Sentences with phrase «defined by the insurance industry»
On the other hand, flood is defined by the insurance industry and the federal government as «water or water - borne material moving along the ground.»
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In the insurance industry a loss ratio is defined as the ratio of the total losses paid out by an insurance company...
In 1941, the insurance industry began to shift to the current system where covered risks are initially defined broadly in an «all risk» [16] or «all sums» [17] insuring agreement on a general policy form (e.g., «We will pay all sums that the insured becomes legally obligated to pay as damages...»), then narrowed down by subsequent exclusion clauses (e.g., «This insurance does not apply to...»).