Insurance Words Glossary - First Western Insurance | RW Scobie
Insurance Words Glossary


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Word Definition
Backdating Many life insurers permit a life insurance applicant to backdate their age for up to six months, in ...
Backloading Refers to a pension plan that accrues greater benefits to a plan participant in the later years of s...
Bad Faith An allegation that an insurer has failed to settle a claim within its policy limits when the opportu...
Bad Faith Doctrine Refers to any codification of actions that demonstrate an insurer's unwillingness to fairly hand...
Baggage Coverage Insurance protection for the contents of luggage or the personal effects of and for the personal use...
Bail Bond A bond intended to guarantee the appearance of a person in court to answer a legal summons for perso...
Bailee A person (or entity) who has temporary possession (custody) of property belonging to others, usually...
Bailee Customers Insurance Insurance arranged by a bailee for the account of bailors or customers. An example is the insuring o...
Bailees Liability Coverage Normally, this is an inland marine insurance, despite the title. This type of coverage is designed f...
Bailment Personal property delivered by its owner to another to be held and returned to the owner in good con...

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