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Insurance Advisors
Resources
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Insurance Advisors
Terms
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> Foreign-product liability
This coverage applies to losses that occur because of difficulties involved in distributing or acquiring items that are manufactured by foreign suppliers.
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> Indemnity
Indemnity plans are also referred to as “fee-for-service.” Unlike managed-care plans, indemnity plans allow absolute freedom in selecting physicians or medical facilities and permit self-referral to a specialist.
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> Dependent Property
This refers to a kind of business-interruption endorsement on a commercial policy that protects you from financial losses caused by problems somewhere other than your business. “Dependent property” is defined as property not owned, operated or controlled by you but on which you are dependent for normal business operations.
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Did You Know?