Block Policy

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Block Policy

An insurance policy that provides coverage for goods while they are in transit between two locations, while they are being delivered to another party, and while they are present on another's property (such as a warehouse). A block policy is a type of all risks policy; that is, it provides coverage for all losses that may occur while the policy is in effect.
References in periodicals archive ?
8220;Our jewelers block policies won't cover this service, but TransGuardian will.
Once cast out from the mainstream, closed block policies tend to die a slow death on an archaic, inflexible administrative platform, serviced by a small and shrinking handful of representatives who possess the highly specialized institutional knowledge required to answer even the simplest policyholder question.
For the closed block policies, Conseco would retain responsibility for adjudicating initial claims, handling claim appeals, and financial reporting.
She stands at the shoulders of politicians whose speeches overrun or who use delaying tactics to block policies.
We added that the Single European Act then being proposed--and later agreed to--would "soon make it impossible for member states to block policies that go against national interests.
a courier stops to tie a shoe and the bag of gems is gone when he looks up), insurers have won a good deal of cases by persuading courts to take a fairly literal view of the requirement found in most jewelers' block policies that requires a gem courier to be "in or upon the vehicle" at the time of any theft from the vehicle.
The PDO can be used only for closed block policies and will be used to offset any future unfavorable experience in the closed block.