Broad property damage (BFPD) is the liability exposure represented by the risk of loss of property in the care, custody or control of the contractor (CCC) or on which operations are performed under the contract. Due to the scope of the exclusions applicable to these two risks of loss in the 1973 Comprehensive General Liability (CGL) form, confirmation was necessary to provide BFPPD peril coverage. Coverage for the same risk is provided automatically in the 1986 revision and subsequent forms of general commercial liability (CGL) through CCC exclusions and property damage exclusions (PD).
Broadcasters’ liability is the legal liability to which radio and television broadcasters are subject. Defamation, invasion of privacy, and errors and omissions (E&O) are some of the types of claims brought against broadcasters. Coverage for this exposure is available under the Media Responsibility Policy.
A broker is an insurance intermediary that represents the policyholder, not the insurer. Because they are not the legal representatives of insurers, brokers, unlike independent agents, are often not authorized to act on behalf of insurers, such as binding coverage. Although some brokers have agency contracts with some insurers, they are usually still required to represent policyholders and not insurers. For example, some state insurance codes impose a fiduciary responsibility to act on behalf of their clients or provide full disclosure of all their compensation from all sources.
The brokerage market is reinsurers who do business through reinsurance intermediaries. Reinsurers who do not normally take on such business are referred to as the direct market.
Sibling relationship is a term that first appeared during the Humana tax case (Humana Inc. v. Commissioner, 881 F.2d 247 (6th Circuit 1989)), referring to separate subsidiaries owned by the same parent company (for example, an insurance company and a subsidiary).
Brownfield is an abandoned, unused or underutilized industrial or commercial facility whose expansion or redevelopment is hampered by real or perceived environmental pollution. These sites are less polluted than the Superfund sites. However, there is enough potential for contamination to cause serious concern to developers, investors, or others who might otherwise use the property.
Brownian motion - this expression refers to the tendency of high-yield (junk) bonds to experience a large diffusion component, i.e. information regarding the investment quality of the bond and pricing in relation to the financial condition of the issuer tends to gradually reach investors. . This feature of high-yield bonds gives investors time to sell before default occurs.
The Browse-Wrap Agreement is a non-negotiable contract, often placed discreetly on a website, that contains the terms and conditions governing the visitor’s use of the website, but does not require any explicit action on the part of the visitor to agree to the terms. terms. Judicial interpretation of the view and transfer agreements has been less favorable than the judicial interpretation of click-to-click agreements.
A buffer level is any level of insurance (or risk retention) that lies between the main (burning) level and additional levels. For example, if the main layer costs $100,000 and the secondary layer’s attachment point is $500,000, a buffer layer of $400,000 is required.