(Business Property Insurance Policy Exclusions)
A beneficiary of an insured's life insurance policy who kills the insured may not be entitled to recover the policy proceeds. The denial of benefits may be based either on language included in the life insurance contract or on the basis of public policy.
No-fault insurance provides coverage for an insured's injuries or damages up to the policy limit regardless of whether the insured or another driver was at fault.
A binder in the insurance industry is a temporary agreement of the insurance company to provide coverage while it seeks to issue a policy based upon the representations made in the application for insurance. The binder may be issued by an insurance agent or an insurance company.
When an insured files a claim with his insurer to recover for a loss, the insurer may pay the amount requested without question, or it may begin the "adjustment" process. This is the process by which the claim is resolved. Various types of "adjusters" may assist in the adjustment process.
