The _____ Provision of the Business Income Coverage Is One

question 13

Short Answer

The _____ provision of the business income coverage is one of the more confusing parts of any insurance policy.Its purpose is to maintain equity in pricing.

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Definitions:

Transfer

The act of moving assets, rights, or obligations from one party to another through sale, gift, or other means.

Possession

The control or ownership of something, whether personal property or real estate.

Demand Instrument

A financial document requiring payment to the holder on demand.

Uniform Commercial Code

A standardized set of laws that regulate financial contracts and transactions in the United States to facilitate commerce.