A provision of the New York Standard Fire Policy in which the insurer agreed to cover the cost of removing covered property from the path of a fire. Presently, property policies express the agreement in terms of preservation of property from imminent danger of damage from any covered peril. Not to be confused with debris removal.
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Removing property to protect it from loss. Most personal and commercial property forms cover damage to property at another location when it has been removed from the premises to protect it from loss by a peril insured against.
Tag: RAW
Removal (Property Insurance)
The act of moving property out of a location to prevent it from being lost. Many property insurance forms will cover damage done to items moved to another location to prevent it from loss stemming from a covered peril.
Removal of Debris (in excess of 1% of the claim amount), Standard Fire and Special Perils Policy (Material Damage)
On payment of additional premium it is permissible to cover cost necessarily incurred by insured in the removal of debris from the premises of the insured, dismantling, demolishing, shoring up or propping of the insured property following destruction or damage by insured peril subject to a maximum limit of Rs. As specified.
Removal of debris clause
Property insurance clause extending cover to include costs of clearing away debris, dismantling, shoring and propping up following insured damage. Sums insured are normally increased by 5-7.5 per cent to allow for these expenses.
Removal of Wreck
A ship-owner has an insurable interest in the likely expenses for removal of wreck.
Removal or weakening of support accorded to land or buildings
A construction industry and civil engineering risk which will generally constitute a nuisance (Bower v. Peate (1876)) making the creator or person who authorised the nuisance liable for the damage without proof of negligence. See JCT 21.2.1 NONNEGLIGENT COVER; COLLAPSE INSURANCE.
Remuneration
Act of paying or compensating for medical services given to a patient.
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UK: Total payments from the employer for the year assessable as income under Schedule E but excluding anything arising from the acquisition/disposal of shares or interest in shares. In regard to Class A members any pay in excess of the earnings cap will be disregarded in assessing allowable contributions to approved pension schemes.
Renal transplant center
Hospital unit that is approved to furnish transplantation and other medical and surgical specialty services directly for the care of end-stage renal disease (ESRD) transplant patients including inpatient dialysis furnished directly or under arrangement.
Renew
To continue, to replace, as with a new policy.
Renewable and convertible term insurance
Type of life insurance that offers the insured the option to renew the coverage at the end of the term period and the option to convert to a permanent basis.