The cash surrender value is the sum of money an insurance company pays to a policyholder, or an annuity contract owner in the event that his or her policy is voluntarily terminated before its maturity or an insured event
In the event of an insured event
, the amount of the insurance indemnity for the beneficiary shall not exceed the amount of the loss incurred during the insured event
The cover also includes a new, fourth trigger, which responds on the 'allegation' of an insured event
The cancellation of a banking licence is an insured event
as stipulated by Federal Law 'On the Insurance of Household Deposits with Russian Banks' in respect of the bank's retail deposit obligations, as defined by law.
The upper level of insurance payment for a particular insured event
makes 1.04 million soms.
The agency indicates that with this type of coverage, an institution will receive benefits up to the limit of insurance for a loss that is a direct result of cancellation, abandonment, curtailment, postponement or relocation of the insured event
to which this insurance applies.
We also investigate the value of delayed premium payment, and the importance of the associated problem of reneging if the insured event
does not occur, under a range of conditions.
Based on the policy's definition of an "insured event
," the court found that there was no coverage because: (a) the E.
This USA Cycling sanctioned and insured event
will start at 3:00 PM, and will feature a race for all levels of bike riders.
Business interruption cover will protect loss of gross profit if an insured event
prevents the business from trading normally.
One of the distinct features of an insurance contract is that the insurer assumes the risk of an insured event
solely subject to the policyholder's payment of insurance premiums.
By far the largest insured event
in 2010 was the February earthquake in Chile, causing about $8.5 billion in insured losses--more than the next two highest insured loss events combined.