floater insurance
An agreement to indemnify against a loss sustained to movable property, wherever its location within the territorial limit set by the policy.
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blanket policy
An agreement to indemnify all property, regardless of location. — Also termed compound policy.
no fault auto insurance
An agreement to indemnify for a loss due to personal injury or property damage arising from the use of an automobile, regardless of who caused the accident. [Cases: Insurance 2817–2856. C.J.S. Insurance §§ 928–929, 1587–1589, 1591–1595, 1601–1602, 1609, 1612–1623, 1645–1646.]
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inland marine insurance
An agreement to indemnify against losses arising from the transport of goods on domestic waters (i.e., rivers, canals, and lakes). Cf. ocean marine insurance.
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habere licere
habere licere (h[schwa]-beer-ee li-seer-ee), vb. [Latin “to allow to have”] Roman law. To stipulate to a purchaser’s right to possess and enjoy property undisturbed. • The term denoted a seller’s duty to indemnify the purchaser if the purchaser was evicted. An evicted purchaser could raise an action on the stipulation or, under Justinian, an actio
excess insurance
An agreement to indemnify against any loss that exceeds the amount of coverage under another policy. — Also termed excess policy. Cf. primary insurance. See EXCESS CLAUSE. [Cases: Insurance 2110, 2394.]
credit insurance
An agreement to indemnify against loss that may result from the death, disability, or insolvency of someone to whom credit is extended. • A debtor typically purchases this type of insurance to ensure the repayment of the loan. — Also termed accounts-receivable insurance.
judicial bond
A bond to indemnify an adverse party in a lawsuit against loss occasioned by delay or by deprivation of property resulting from the lawsuit. • Judicial bonds are usu. classified according to the nature of the action in which they are required, as with appeal bonds, injunction bonds, attachment bonds, replevin bonds, forthcoming or redelivery
underinsurance
underinsurance. An agreement to indemnify against property damage up to a certain amount but for less than the property’s full value.