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Insurance

First Unpaid Premium(FUP)

In the realm of insurance, the term 'first unpaid premium' signifies the initial instance of a policy holder failing to make their premium payment. When a premium is paid on time, a receipt is provided which denotes the next due date. However, if this due premium is not fulfilled, that date transforms into the 'date of FUP'.

Commercial general liability (CGL)

Commercial General Liability (CGL) is a comprehensive policy that provides coverage for all potential liabilities faced by a business, unless specifically excluded. This pol...

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Claim Amount

The term "payable amount" refers to the sum of money that is due upon the completion of a policy or when a claim is made. This amount is typically determined at the beginnin...

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Insurance Policy

An essential document in the world of insurance is the policy, a written agreement between the policyholder and the company outlining the terms and conditions of coverage. T...

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Standard Risk

An individual who meets a company's underwriting standards and is eligible for insurance coverage without any additional charges or limitations is known as a preferred risk....

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