A mixture of term life and whole life insurance that pays out a multiple of the face value during the term policy’s period, and then turns into a whole life policy after the term is over. The period known as the “multiple protection period” is the time during which both policies are in effect.

(1) A factor applied to pure loss costs to produce a rate of premium. (2) In an action for damages for personal injury a factor applied to annual loss of earnings in calculating damages for death or permanent disablement.

Coverage that guarantees bondholders timely payment of interest and principal even if the issuer of the bonds defaults. Offered by insurance companies with high credit ratings, the coverage raises the credit rating of a municipality offering the bond to that of the insurance company. It allows a municipality to raise money at lower interest rates. A form of financial guarantee insurance. See Financial guarantee insurance.

A group of insurance companies that insure payment of principal and interest on certain bonds.

This Insurance covers the total abandonment of music concerts due to specified perils like Fire, lightning, explosion, earthquake, rain, flood, storm, riot, strike, malicious damage and terrorist act. The Policy covers the actual financial loss to the organizers i.e., the insured. It is a condition under the Policy that the music should not have been played even for a fraction of a minute. That is to say, the total abandonment of music concert is covered. Change in venue or postponement of the music concert does not constitute a claim. It is prescribed that the tickets issued shall contain a stipulation that once a ticket is sold no refund will be allowed.

When goods are shipped under excessive moisture contents it is said to be shipped under musty condition.

With the necessary changes.

A group of mutual insurance companies who provide reinsurance of liability policies that cover private nuclear energy reactors. This type of insurance can only be written by a pool.

An association that offers benefits to its members. Under the benefit plan, no regular premiums are paid. Instead, assessments are made with each loss as it occurs.