What are Loss Payee, Additional Insured and Insured?
From an insurance perspective, "Additional Insured" and "Loss Payee" are both terms used to describe how parties other than the named insured are covered under an insurance policy. However, they…
What is cut-though clause in insurance or reinsurance?
In the context of insurance or reinsurance, a "cut-through clause" is a contractual provision that allows a policyholder to bypass the normal claims process and make a direct claim against…
What is Claim Control Clause and Claim Cooperative Clause?
In the context of general insurance, the terms "claim control clause" and "claim cooperate clause" are not widely used or recognized industry-specific terms. However, I can provide you with an…
Cross Liability Clause – Explain with Simple Terms and Example
"Cross Liability Clause: It is hereby agreed and understood that if any claim or suit is brought against any insured party named in this policy, the coverage provided shall apply…
BI Cover: Time Deductible VS Deductible in Number?
In Delay in start up or business interruption insurance, what are the difference between time deductible and deductible in number? What is the Difference between Time Deductible and Deductible in…
Sanctions Clause – An Insurance Prospective
What is Sanctions Clause? In the insurance industry, a sanctions clause is typically included in insurance policies to address the impact of economic sanctions on the insured's ability to make…