A fee that may be imposed by a fire department for responding to a call. Most fire coverage agreements include indemnification provisions for such eventualities.
Insurance Encyclopedia
Fire department service clause (Property Insurance)
A clause within a fire insurance contract that provides that the insured will be reimbursed for any expenses caused by the fire department attempting to save their property.
Fire division
A section in a building formed by fire walls and fire doors to prevent a fire from spreading beyond its confines into other parts of the building. It may affect rating and the insurer’s view on estimated maximum loss. An insurer may regard a fire division as being achieved when the fire resistant rating is a given level, e.g. four hours.
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Portion of a building or other area which is sufficiently enclosed against spread of Fire so that if a Fire begins within the division, it will not spread beyond its boundaries. Knowing the size and potential values of the largest Fire division within a given structure or other property is helpful in defining the maximum probable Fire loss to that property.
Fire Door
Door, tested and rates for resistance to various degrees of Fire, that prevents the spread of Fire through horizontal and vertical openings. Fire doors must remain closed under normal conditions or be designed to close automatically in the presence of Fire.
Fire Extinguisher
Device which extinguishes flame. Fire extinguishers may contain liquid, dry chemicals, or gases (carbon dioxide or others). They are tested and rated to indicate their ability to handle specific classes and sizes of Fires. as follows: Class A Extinguishers : For ordinary combustibles, such as wood, paper and textiles, where a quenching/cooling effect is required. Class B Extinguishers : For a flammable liquid and gas Fires, such as oil, gasoline, paint and grease, where oxygen exclusion or a flame interruption effect is essential. Class C Extinguishers : For Fires involving energized electrical wiring and equipment, where the non-conductivity of the extinguishing Agent is of prime importance. Class D Extinguishers : For Fires in combustible metals such as magnesium, potassium, powdered aluminum, zinc, sodium, titanium, zirconium and lithium.Fire Insurance : Mid-Term Cover : Generally not permissible for STFI and/or RSMTD perils. If allowed it is subject to insurers must receive specific advice along with required additional premium in cash or by draft. Mid-term cover to apply for entire property at one complex/compound/location. Cover shall commence 15 days after the receipt of the premium at applicable short period scale on full sum insured at one complex/compound/location.
Fire Extinguishing Appliances Discount for Fire Insurance
The discounts may be granted for Fire Extinguishing Appliances if the system is erected and tested as per the relevant Regulations and a Certificate from LPA or TAC(IRDA) accredited professional agency(ies) confirming the efficacy of the systems and its full compliance is submitted.
Fire for Damages in Transit
Fires on board ship usually are caused by spontaneous combustion of cargoes or by the easily susceptibility of flammable soap/cosmetics et. Some fruits interact by odor or can be tainted by odor of oil. Tobacco, cigars, cigarettes, tea, coffee dairy products are all highly sensitive to taint.
Fire Insurance
Coverage for loss of or damage to a building and/or contents due to fire.
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US: Coverage for losses caused by fire and lightning, plus resultant damage caused by smoke and water.
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MEDICAL,USA: Insurance coverage that protects property against loss caused by fire and lightning.
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Mid-Term Revision in sum insured : Increase on pro-rata basis. Decrease in sum insured on short period scale basis.
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Term used to cover not only insurance against fire but the insurance of additional perils such as Riot, Strike, Malicious Damage, Explosion and Act of God Perils
Fire Insurance Business
Section 26 (A) of the Insurance Act, 1938, defines “Fire Insurance Business” as “the business of effecting, otherwise than incidental to some other class of Insurance business, contracts of Insurance against loss by or incidental to Fire or other occurrence customarily included among the risks insured against in Fire Insurance policies.”
Fire insurance rating
System to fix premiums for fire insurance risks. The insured pays in proportion to: (a) the value at risk; (b) the degree of hazard present. The premium is the rate per cent multiplied by the sum insured. The rate reflects: (i) the trade classification, groupings of trades or sections of trades, broadly similar in experience in terms of the incidence and severity of fires; (ii) discrimination, i.e. differentiation of individual risks within a specified class due to particular features present in any individual risk; (iii) experience, meaning the relationship of losses to premiums in a given class over a period of years.