Financial loss due to pollution. Costs may include: cleaning up land, water courses, buildings, machinery, etc., and generally removing the effects of pollution. The insured may cover his liability for third party cleanup costs incurred by a third party and for the cost of cleaning up his own property under a first party policy. It is possible to extend existing liability policies but one approach is to arrange a separate environmental impairment policy that also covers cleaning up one’s own site.
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Generally, those costs associated with the clean-up of pollution.
Tag: RAW
Clean-up fund
Lump-sum type of life insurance death benefit to assist in paying the insured’s outstanding debts, funeral expenses, and related expenses—in other words, “cash” to clean up expenses.
Cleanliness
Accumulated trade waste and rubbish is a fire hazard indicative of lax management and poor moral hazard. Greasy waste is liable to spontaneous heating. In some cases a warranty may require the insured to keep waste/scraps in metals bins and remove them from the building at the end of each day.
Cleanup fund (Life Insurance)
A fund or policy used to pay the remaining costs stemming from the policyholder’s death.
Clear Space Clause
A clause required that insured property, such as stack of lumber, be stored at some particular distance from each other or from other property.
Clear space clause (Property Insurance)
A clause stating that the insured’s belongings must be stored at a specified distance from each other or other belongings. The property in question typically increases the chance of a loss, for example, dynamite or stacks of firewood near a firepit.
Clearinghouse
Independent organization that receives electronically transmitted insurance claims from the physician’s office, performs software edits, routes, and transmits the claims to various insurance carriers. Also see health care clearinghouse.
Clerical error
Minor omission or error in form or content on Medicare Part A or Part B claims, such as missing data items (provider number or date of service). Omissions do not include failure to bill for certain items or services or third-party payer errors.
Clerical error provision
Insurance policy condition that if a person is eligible and submits a written request for coverage, he or she will not be denied coverage if the policyholder fails to give proper notice to the insurance company because of a clerical error.
Clerk
See: insurance billing specialist .