Inland Marine Insurance Insurance which covers items of personal property such as jewelry and other items that do not have a fixed location. It may be referred to as personal articles or property floater insurance. Insured, Additional A person other than the original named insured, who is protected under an insurance contract. ISO Insurance Service Organization, the organization which prepares recommended insurance policy forms for use in the United States. Liability Insurance Insurance against declared liability hazards that may occur during the policy terms.
Liability insurance is perhaps the most important insurance to maintain.
Loss Any destruction or disappearance of value. Multiple Line Insurance Policies that combine many perils previously covered by individual fire and liability policies. Perils A policy issued specifically listing the perils insured against. Negligence Failure to exercise the degree of care that would be expected from a reasonable and prudent person. A condition that exists when two or more policies cover the same property subject to different provisions.