Glossary beginning with T | IFFCO Tokio General Insurance Company in India


Glossary beginning with T

t
Tail coveragesearch for term

An extended reporting period extension under claims-made liability policies that provides coverage for losses that are reported after termination of the policy

Technical provisionsearch for term

Amount set aside on the balance sheet to meet liabilities arising out of insurance contracts, including claims provision (whether reported or not), provision for unearned premiums, provision for unexpired risks

Tenants Liabilitysearch for term

Cover for damage to rented buildings

Theftsearch for term

The unlawful taking of property of another: the term includes such crimes as burglary, larceny and robbery.

Third partysearch for term

Someone other than the insured and insurance company

Third party claimsearch for term

A demand made by a person against a policyholder and any payment that will be made by that company

Third Party Liabilitysearch for term

Liability incurred by the insured to another party but excluding contractual liability

Tornadosearch for term

A whirling wind over land, accompanied by a funnel-shaped cloud. It is usually very violent and destructive in a narrow path, often for many miles

Tortsearch for term

A civil wrong, other than a breach of contract, for which a court of law will afford legal relied

Total Disabilitysearch for term

An illness or injury which prevents an insured person from continuously performing every duty pertaining to his/her occupation or engaging in any other type of work

Total Losssearch for term

The complete loss or destruction of all the property insured under a particular policy

Treatysearch for term

A reinsurance contract under which the reinsured company agrees to cede and the reinsurer agrees to assume risks of a particular class or classes of business

Turnoversearch for term

The money earned for goods supplied or services rendered in the course of the business at the premises specified in the policy


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