Glossary

Dealers driveaway collision is a garage policy endorsement that broadens the collision coverage for autos being driven or transported from point of purchase or distribution to destination. The garage form limits collision coverage for these autos to apply only within a 50-mile radius of the dealership. The exclusion applies if the distance is greater than 50 miles even if a collision occurs within the 50-mile radius. Driveaway collision coverage deletes this distance exclusion and affords coverage for the pickup or delivery of vehicles to or from a point greater than 50 miles from the dealership.

A specialty underwriting program typically provides this coverage, which may offer other program enhancements such as false pretense coverage. There are four basic levels of protection for open lot coverage: unprotected lots, nonstandard protection, standard protection, and building protection. Unprotected lots have no fencing or barriers against theft protection; nonstandard has some protection level, but the entire inventory is not protected; standard protection means the entire inventory is covered and protected; and building protection means the inventory is always inside a building.

The death benefit is the amount payable by a life insurance policy in the event of the death of the named insured.

The death benefit limitation refers to a limit every life insurance company has on the amount of life insurance a person can buy.

The Death on the High Seas Act (DOHSA) is a federal remedy for the death of seamen or other individuals arising from negligence, strict liability, or the unseaworthiness of a vessel and occurring on the high seas that is beyond three nautical miles from shore on a worldwide basis. Note that individuals killed in an aircraft accident on the high seas are entitled to recover under DOHSA also. Legal proceedings must be initiated within 3 years of the accident by a representative of all survivors of the deceased individual. Damages awarded are based on actual monetary loss and do not extend to encompass such usual compensable expenses as medical and funeral costs. Additionally, the contributory negligence of the deceased may reduce but not eliminate the award.

The death rate is the number of deaths occurring per 1,000 people.

A debit agent is an agent who works on the debit or industrial life insurance system. Debit agents visit the houses of their insureds to collect premiums.

Debit life insurance is a type of industrial life insurance—that is, life insurance purchased primarily by people with low income levels under which the premium is collected weekly, biweekly, or monthly.

The debit system is the system of collecting life insurance premiums on a weekly or monthly basis involving an actual visit by the agent.

Debris removal in the insurance context refers to coverage for the cost of removal of debris of covered property damaged by an insured peril. This coverage is included in most commercial property insurance policies.