Use and occupancy insurance

Bibliographic data

Monograph

Identifikator:: 1833269721

URN:: urn:nbn:de:zbw-retromon-221767

Document type:: Monograph

Title:: Use and occupancy insurance

Place of publication:: New York

Publisher:: The America Fore Group of Insurance Companies

Year of publication:: 1930

Scope:: 20 S

Digitisation:: 2022

Collection:: Economics Books

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USE AND OCCUPANCY INSURANCE Blanket Coinsurance Use and Occupancy Form too do the earnings of other classes of business fluctuate according to weather conditions or other indefinite seasonal influences. It is necessary therefore, to select the form which is most adaptable to the particular characteristics of the earnings under consideration. Usually, a standard form will cover all phases of a busi- ness. However, where necessary, special forms may be obtained to meet the special conditions which surround certain types of business. The earnings of many present-day enterprises fluc- tuate in such a manner that it would be quite impossible to estimate at the beginning of any policy year the periods of busy or slack operations. To meet the need for a comprehensive coverage on this type of earnings, the Coinsurance Use and Occupancy form was devised. For sake of comparison we shall liken it to a blanket fire insurance policy form. The Coinsurance Use and Occupancy form provides blanket cover without speci- fying a daily or weekly limit of liability. All that is necessary to secure proper protection is the mainte- nance of sufficient insurance to comply with the coin- surance provision of the policy. The earnings of a department store offer a good example of retail distribution which could be advanta. geously insured under the Blanket Coinsurance form. [t should not be difficult for the average department store operator to approximate closely the full annual ousiness expected during a next ensuing twelve-month period, but it might be difficult for him to foresee the fluctuations of these earnings and the periods during which they will occur. The Blanket Coinsurance form covers this situation with a minimum of guess. work. However this is not meant to imply that the Blanket Coinsurance form is not readily adaptable to cover the earnings of the producer (manufacturer), wholesale dis. tributor, or “Service” organization. Always the type of earnings will have a bearing on the selection of the most desirable form. The Blanket Coinsurance form is divided into two nsuring items, as follows: tem I. g........On (a) the net profit which is thereby prevented from being earned and 4) such charges and other expenses, including salaries of officers—executives—department managers—employees (Turn to Page r3)

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