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API 28 - Chapter 10
Personal Insurance: Underwriting and Marketing Practices
14
Other
Professional
09/11/2010

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Cards

Term
Floater
Definition
Inland Marine Policies
Term
Nationwide Marine Definition
Definition
Describes the kinds of risks and coverages that can be classified under state insurance laws as marine and inland marine insurance.
Term
Agreed value
Definition
In the event of loss or damage, the insurance co. agrees to pay the amount of insurance scheduled. The amount is agreed upon at the time the policy is written.
Term
Proof set
Definition
A group on coins that are not circulated and that have the same mint year. They are in mint condition and part of a set
Term
Pairs, sets or parts
Definition
Increase in value because they are part of a group. The loss of part greatly reduces the value of the items that remain.
Term
Blanket basis
Definition
An amount of insurance is provided for the toal class of property being insured
Term
Numismatic
Definition
Paper money and coin collectibles
Term
Philatelic items
Definition
Postage stamp collectibles
Term
Personal Effects floater
Definition
Covers on an "all risks" basis, individually owned property carried by tourists and travelllers
Term
Deadbolt
Definition
Locks that have a latch that cannot be manually pushed back into place without a key.
Term
Underwriters Laboratories
Definition
Tests and certifies electronic devices, alarm systems and many other items for safety and accuracy of operation
Term
Local alarms
Definition
Creates a loud clamor that can be heard only at the premises in the event of a break-in
Term
Central station alarm
Definition
Contacts a security co. that responds to the residence and contacts the police in the event of a break-in.
Term
Proprietary alarm
Definition
Notifies a security guard on the premises, who responds in the event of a break-in.
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