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Miner's Coal Distributors does not mine coal itself, nor does it even store or handle the coal. Instead, Miner's solicits orders for low sulfur coal from other firms, then purchases the required amount from suppliers and directs them to ship the coal to its customers. What is Miner's?
Co-insurance Clause
A provision in an insurance policy that requires the policyholder to bear a portion of the loss, promoting insured responsibility.
Fireproof
Made of materials that are resistant to catching fire or are capable of withstanding high temperatures without being damaged.
Insured
A person or entity covered by an insurance policy, receiving protection against specified risks or losses in exchange for premium payments.
Insurable Interest
A requirement that a person seeking to purchase an insurance policy must have a stake in the well-being of the person or property insured.
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