Type of Insurance coverage against loss due to interruption of power supply from a public utility caused by accidental breakdown of the utility’s plant and/or machinery.
Insurance Encyclopedia
Power interruption insurance (Property Insurance)
Insurance that covers the insured against losses caused by a power failure caused by the hazards named in the policy.
power mobility device (PMD)
Power wheelchair and power-operated vehicle such as a scooter. Medicare beneficiaries with a personal mobility deficit who meet criteria as noted in the Medicare National Coverage Determinations Manual are eligible to be provided with a PMD under the durable medical equipment (DME) benefit. The device must be ordered by a physician or treating provider.
Power of agency
Document that lets an agent act for an insurer. It is a contract drawn up between an insurance company and its agents.
Power of appointment (Estate)
The donee’s right to choose the end beneficiary of a property. This right is given to the donee by the donor.
Power of attorney
MEDICAL,USA: 1. Medical document that lets an individual appoint someone he or she trusts to make decisions about the individual’s medical care. This type of advance directive also may be called a health care proxy, appointment of health care agent, or a durable power of attorney for health care. 2. Voluntary transfer of decision-making authority from one individual to another individual, both of whom are competent.
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Authority given one person or corporation to act for and obligate another, to the extent laid down in the instrument creating the power.
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The power to make legal decisions for another person or entity. This power is given to an individual or corporation in a written agreement. This term can also refer to the legal authority given to the head of an insurance exchange by each insured. The head administrator is then called an attorney in fact.
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The written instrument by which the authority of one person to act in the place and stead of another as his attorney in fact is set forth.
Power Plant Insurance
Contract of Insurance insuring electric generating plants and stations Insurance against loss caused by accidental injury to objects used for generation, control, storage, or distribution of energy.
Power plant insurance (Property Insurance)
Insurance that covers a power plant against hazards named in the contract.
Power Presses
Part IV of PUWER 98 contains specific regulations for power presses. Each power press should have an associated guard or protection device and be thoroughly examined at least every 12 months if it has a fixed guard, otherwise six monthly, and inspected daily to ensure that it is safe. This work should only be performed by a competent person and records should be kept.
Power-of-attorney
Commonly used in bonding, this document conveys authority for the individual(s) named on it to execute bonds and other legal documents.