Valued Policy

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Valued Policy

An insurance policy that pays a specified amount in the event of a loss, regardless of the value of the loss. For example, a life insurance policy may pay $100,000 upon the death of the insured, regardless of when or how the death occurs.
References in periodicals archive ?
These types of businesses in particular may benefit from a valued form because the typical calculation in the ISO business income form-net profit or loss plus continuing expenses--could result in a negative figure as was illustrated in the previously discussed court case from 1927, Goetz v.
A valued form may be crafted to accurately address this type of situation.
Because of this, the only safe way to provide adequate coverage under a valued form is to issue coverage equal to the total number of working days times the maximum possible loss for any one day.
Here's an illustration of how the valued form works: A plant that manufactures widgets sends their quarterly statement to the insurer on January 1 with a stated daily business interruption value of $100,000.
The valued form provides simplification and ease of adjustment when a loss occurs, but some additional bookkeeping may be involved in submitting values more than once a year.
Tenders are invited for Printing and supply of money valued forms for the period from 01.
Dr Savvas Savouri, chief economist at Toscafund Asset Management and author of the report, said "CRE takes on varied and economically valued forms across all of the UK and it would be no exaggeration to say that the fortunes of the UK economy turn on a well functioning CRE market.
The great extent to which our employees are valued forms the foundation of our company and is at the heart of our being able to provide exceptional service.
Salespeople count on positive word-of-mouth as one of their most valued forms of marketing, realizing that the sale is nearly made if a trusted source shared a good perception.
YouTube has turned video blogging and sharing into more valued forms of advertising, and Facebook is raising the value of word-of-mouth advertising with its Facebook Beacon feature--essentially blasting your likes and dislikes out to your network of contacts.
Listening to music, whether individually or in a group setting, is one of the most personal and valued forms of entertainment," said Sangchul Lee, senior vice president, Samsung Electronics.