• A
• B
• C
• D
• E
• F
• L
• M
• N
• O
• P
• R
• S
• T
• W

PERSONAL INJURY LIABILITY

PERSONAL PROPERTY

PERSONAL PROPERTY FLOATER (P.P.F.) (USA)

PLAINTIFF

A package policy is a combination of the coverage of two or more separate policies in one contract with one premium.  A move toward economy and efficiency by giving the policyholder one document instead of several.

Loss involving less than all of the values insured or calling on the policy to pay less than its maximum amounts.

Sometimes synonymous with bodily injury liability.  More specifically, an additional coverage in a liability policy relating to other than bodily injury to the person and would include such actionable wrongs as false arrest or imprisonment, malicious prosecution, libel, slander, and invasion of privacy.

Property other than “real” property.  The latter is buildings and land, whereas personal property is all else. Chattels.

A broad form of inland marine policy issued to the owners of furniture and other household effects that protects against “all risk” with certain exclusions.  Covers the insured property wherever it may be.  With the advent of homeowner's insurance, separate PPF's are seldom written, since the coverage is included in homeowner's “5” policies.

One who brings a lawsuit against another.  The “asker” in a lawsuit.  The other party is the “defendant".

A risk of a class considered to be particularly desirable.

The amount of money an insurance company charges to provide the cover that the policy describes.

Something designed to contain gas or vapour (such as steam) under pressure. A steam boiler is an excellent example.

In surety ship, the principal is the one whose honesty, fidelity, or ability to perform is guaranteed.

An automobile primarily operated by the owner for his personal use, as distinguished from commercial use, such as would be the case with a truck or taxicab.

The liability a merchant or a manufacturer may incur as the result of some defect in the product he has sold or manufactured.

Covers the insured's legal liability for negligent damage to property of others.  A form of “third party” insurance.

The insurance of real and personal property against physical loss or damage.  A form of indemnity insurance not to be confused with property damage liability insurance (see that definition).

Damages awarded separately and in addition to the compensatory damages, usually on account of malicious or wanton misconduct, to serve as a punishment for the wrongdoer and, possibly, as a deterrent to others.  Sometimes referred to as “exemplary damages”.