Damaged Arrived Value  :: It refers to the market value of the goods in damaged condition. 

 

Debris Removal Clause  :: The clause extends insurance coverage to include the cost of debris removal resulting from damage caused by covered loss up to a specified limit of loss. 

 

Deductible  :: The portion of an insured loss borne by the policyholder. The amount or percentage is specified in the policy. 

 

Depreciation  :: A decrease in the value of property over a period of time due to wear and tear or adolescence. Depreciation is used to determine the actual cash value of property at time of loss. 

 

Direct Premiums :: Property/casualty premiums collected by the insurer from policyholders, before reinsurance premiums are deducted. Insurers share some direct premiums and the risk involved with their re-insurers.

 

Directors’ and Officers’ (D & O) Liability insurance  :: Type of insurance that provides a company’s directors and officers with cover against losses incurred through misleading statements or negligence. 

 

Disability Income Insurance :: Health insurance that provides periodic payments if the insured becomes disabled as a result of illness or accident.

 

Double Insurance :: If the insurance policy is taken from more than one underwriter where period of insurance, subject matter of insurance and sum insured are same, then this is called double insurance.

 

Duty of Disclosure  :: Positive duty to disclose material facts in an insurance proposal. 

 

Dynamic Risk  :: Any insurance risk resulting from a human decision.