Insurance and Financial Terms

Bonds

• A type of equity security that represents ownership in a company.

• A form of debt security whereby the debt holder has a creditor stake in the company.

• A financial instrument that derives its value from an underlying asset.

• A short-term investment option with no fixed payment schedule.

Builders' Risk Policies

• Coverage for completed buildings only

• Insurance for machinery and equipment used in construction

• Protection against loss to buildings during construction

• Coverage for materials unrelated to construction

Boiler & Machinery or Equipment Breakdown & Machinery

• Coverage for the failure of boilers, machinery and other electrical equipment.

• Coverage for natural disasters affecting buildings.

• Coverage for employee injuries on the job.

• Coverage for theft of personal property.

Business owners Policy

• Business insurance typically for property, liability and business interruption coverage.

• A type of insurance exclusively for large corporations.

• A policy that only covers employee health benefits.

• Insurance that protects against natural disasters only.

BCEGS

• Building Code Effectiveness Grading Schedule - classification system for assessment of building codes per geographic region with special emphasis on mitigation of losses from natural disasters.

• Building Code Evaluation and Grading System - a method for rating the aesthetic appeal of buildings.

• Building Compliance and Enforcement Guidelines - a framework for ensuring building regulations are followed.

• Building Code Efficiency and Growth Standards - a set of metrics for measuring building sustainability.

Broker

• An individual who receives commissions from the sale and service of insurance policies.

• A person who only sells policies for a specific insurance company.

• An individual who provides legal advice on insurance matters.

• A representative of the insurance company who sells policies directly to customers.

Balance Sheet

• An accounting statement showing the financial condition of a company at a particular date.

• A report detailing the cash flow of a company over a specific period.

• A document summarizing the company's revenue and expenses for the fiscal year.

• A list of all the company's assets and liabilities without any financial context.

Boatowners/Personal Watercraft

• Covers damage to pleasure boats, motors, trailers, boating equipment and personal watercraft as well as bodily injury and property damage liability to others.

• Covers only the physical damage to the boat itself.

• Provides coverage for personal injuries sustained while boating only.

• Excludes liability for property damage to others.

Business Auto

• Coverage for personal vehicles used for commuting.

• Coverage for motor vehicles engaged in commerce.

• Coverage for vehicles used exclusively for pleasure.

• Coverage for vehicles in the garage business.

Burglary and Theft

• Coverage for property taken or destroyed by natural disasters.

• Coverage for property taken or destroyed by breaking and entering the insured's premises.

• Coverage for property taken or destroyed by fire and smoke damage.

• Coverage for property taken or destroyed by water damage.