sharpinsurance.ca

Website:http://www.sharpinsurance.ca
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Definitions (151)

1.

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STATUTORY CONDITIONS


Special prescribed and standardized conditions that the Provincial Insurance Acts require to be included in fire, automobile, accident and sickness policies.
Source: sharpinsurance.ca

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ACCIDENT


1. An unusual fortuitous, unexpected, or unforeseen event or occurrence. 2. An unforeseen, undesigned occurrence at a given time and place causing physical injury to persons or damage to property.
Source: sharpinsurance.ca

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COMPULSORY INSURANCE


Any form of insurance, which is required by law.
Source: sharpinsurance.ca

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VALUATION


Estimation of the value of an item, usually by appraisal
Source: sharpinsurance.ca

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AUTOMOBILE INSURANCE


Insurance coverage that provides indemnity and/or compensation for injury or physical damage which ensues from the ownership, use or operation of an automobile.
Source: sharpinsurance.ca

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AUTOMOBILE FLEET


A group of automobiles under the same ownership and management which may, because of the number, justify a discount in the insurance premium. Usually five or more vehicles.
Source: sharpinsurance.ca

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AUTHORIZATION


The power or right to act on behalf of another.
Source: sharpinsurance.ca

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ASSURER


See "insurer".
Source: sharpinsurance.ca

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ASSURED


See "insured".
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ASSUMED LIABILITY


Liability, which would not rest upon a person except that he has accepted responsibility by contract expressed or implied. This is also known as contractual liability.
Source: sharpinsurance.ca


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