Define the Term "Organization

question 37

Essay

Define the term "organization." Explain the common denominators of all organizations.

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Definitions:

Reservation Of Rights

A declaration by an insurer that provision of defense or coverage for a claim is not a waiver of their right to deny coverage later on grounds not yet known.

Coverage Of Insurance Policy

The specific risks, events, or damages that an insurance policy agrees to cover, including the limits and conditions.

Premium

The amount paid for an insurance policy, or the cost to acquire an option or financial instrument.

Declaratory Judgment

A court decision that resolves legal uncertainty for the parties involved, without requiring enforcement.