Insurance that covers the proprietors of a business that serves alcohol. The insurance protects them from being liable for accidents caused by customers who became intoxicated inside the establishment.

A form of insurance contract that protects the owners of an establishment in which alcoholic beverages are sold against liability arising out of accidents caused by intoxicated customers who have been served or sold the alcoholic beverages.

Dramshop liability laws are state laws that impose liability upon businesses that serve alcohol to people who are intoxicated and who then leave the establishment and cause injury or property damage to someone else. For example, if a bartender serves alcohol to an obviously drunk customer who then gets in his or her car and causes an accident, the other party to the accident can not only sue the drunk driver for damages but the bar that served the driver as well. The extent to which the bar is responsible varies from state to state. (See Liquor Liability).

A U.S. Customs Law that permits an American exporter to recover duties paid on imported foreign raw materials or components included in products that are subsequently exported out of the United States.

The individual or firm on whom a draft is drawn and who owes the stated amount to the drawer.

Dread disease coverage (also known as “critical illness” insurance) may be a rider on a life insurance policy or a standalone life or health policy. As a rider to a life insurance policy, the coverage pays alump sum prior to death if the insured contracts a dread disease listed in the policy such as cancer, heart disease, or AIDS.As a standalone life insurance policy, dread disease coverage pays a benefit only if the insured dies of one of the listed dread diseases. Premiums are normally lower than traditional life insurance.

Standalone dread disease health insurance normally pays a supplemental benefit should the insured contract a specified critical illness. For example, an insured with a cancer policy might receive a lump sum when diagnosed with cancer and so much per day of chemotherapy.

Insurance providing an unallocated benefit, subject to a maximum amount, for expenses incurred in connection with the treatment of specified diseases such as cancer, poliomyelitis, encephalitis and spinal meningitis.

Insurance that covers all medical costs associated with treating the medical conditions listed in the policy.