Limited Customization: Blanket health insurance plans often provide a one-size-fits-all approach, meaning that the coverage, deductibles, copayments, and provider network are the same for all members of the group. This can limit flexibility and customization options for individuals who may have spec...
Company Insurance Policieshas the meaning set forth in Section 4.15. Group long-term care insurancemeans a long-term care insurance policy which is delivered or issued for delivery in this State and issued to: Standard Hazard Insurance Policymeans a fire and casualty extended coverage insurance poli...
Blanket bond –An employee dishonesty or fidelity bond covering all persons of a group or class, as opposed to bonds naming specific individuals (name schedule) or positions (position schedule).Blanket coverage –A means of insuring various items of property under one limit of liability....
Life Insurance Policy has the meaning given in Section 6.10. Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11. Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Proper...
Option to add replacement cost, meaning personal belongings will be replaced without factoring in depreciation With blanket jewelry protection, renters have one set amount to cover their jewelry with no need for appraisal or deductible after a covered loss ...
Personal property coverage: Reimburses you for stolen or damaged personal belongings, including furniture, clothing and electronics, if they are affected by a covered problem, like a home break-in or windstorm. Personal property provides actual cash value coverage, meaning it factors depreciation into...
The Blue Cross/Blue Shield plans are called indemnity plans, meaning they reimburse the patient for medical expenses incurred. Indemnity insurers are not responsible directly to physicians for payment, although physicians typically submit claims information to the insurers as a convenience for their ...
To put theViking Pumpdecision in context, insurers usually prefer a pro rata approach, meaning they can only be liable for their share of a loss based on the time period their policies were in force compared to the overall period that the long term injury or property damage occurred. This ...
The general liability insurance coverage will also pay costs in defending or settling a claim, and this is in addition to covering bodily injury or property damage. These cost are payable outside the policy limit, meaning the amount available to be paid for a claim isn't reduced. This is ...
A CIP is a blanket insurance policy that provides coverage to subcontractors, contractors, and owners. A project leader purchases the CIP on behalf of the project participants, pays the insurance premiums, and gets reimbursed by the project members. What Are the Benefits of a Controlled Insurance ...