Protection of the insured against liability for damage to or destruction of the bodies or property of others.
The right of an insurance company to step into the shoes of the party whom they compensate and sue any party whom the compensated party could have sued.
Usually, a policy benefit or claim payment. It connotes an agreement between both parties to the policy contract as to the amount and method of payment.
The felonious taking, either by force or by fear of force, of the personal property of another, commonly known as “hold-up”.
1. A chance of loss.
Usually known as an endorsement, a rider is an amendment to the policy used to add or delete coverage.