A clause attached to a Marine cargo policy, usually on refrigerated goods, where delay is an insured peril, including the risk of breakdown of machinery. The clause makes claims payable only where the breakdown lasts for 24 hours or more.
Insurance Encyclopedia
Twenty-20 Cricket Match Insurance
The Insurance covers the total abandonment of Twenty-20 cricket match due to specified perils like Fire, lighting, explosion, earthquake, rain flood, storm, riot, strike, malicious damage and terrorist activities. The Policy covers the financial loss actually suffered by the insured i.e., the organizers. It is a condition under the Policy that no liability will attach even if a single ball is bowled. Change in venue or postponement of the match 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.
Twenty-four-hour coverage
1. Insurance coverage of medical and disability benefits for the insured regardless of employment or financial status. 2. Insurance coverage for an employee under the correct insurance policy (e.g., workers’ compensation, group health, disability).
Twenty-fourths method
A method of computing the unearned premium reserve. It is assumed that, on average, policies run from the middle of the month of inception. The appropriate number of twenty-fourths of premiums relating to the policies commencing in each month is then carried forward as unearned.