DESCRIPTION OF COVERAGE Clause Samples
The "Description of Coverage" clause defines the specific scope and details of protection provided under an insurance policy or agreement. It outlines what types of risks, events, or losses are included, and may specify limits, exclusions, or conditions that apply to the coverage. For example, it might state that property damage from fire and theft is covered, but exclude flood damage. This clause is essential for ensuring all parties clearly understand what is and is not protected, thereby reducing disputes and misunderstandings about the extent of coverage.
DESCRIPTION OF COVERAGE. THE PLAN: As a Financial Institution Cardholder, you are automatically eligible for Buyer Protection insurance. ELIGIBILITY: This insurance plan is provided to Financial Institution My RewardsTM Debit Card cardholders, automatically when the entire cost of the Covered Purchase is charged to your Card account while the insurance is effective. It is not necessary for you to notify Financial Institution, the administrator or the Company when items are purchased. THE COST: This insurance plan is provided at no additional cost to eligible Financial Institution My RewardsTM Debit Card cardholders. Financial Institution pays the full cost of the insurance. WHEN COVERAGE APPLIES: Coverage applies for 90 days immediately following a Covered Purchase. COVERAGE: We will reimburse the Insured up to $1,000 for Covered Purchases that are damaged or stolen, except if stolen from vehicles. This coverage only applies if the Insured Person charged or debited the entire cost of the Covered Purchase to the Insured Person’s Account during the Policy period, are part of and not in addition to the Benefit Amount and the Annual Maximum Benefit Amount of $50,000. We will reimburse the Insured Person for the lesser of: 1)the cost of the Covered Purchase indicated on the Insured Person's Account statement; or 2) the Benefit Amount. In no event will We be liable beyond the amounts actually paid by the Insured Person. In no event will We pay more than the Annual Maximum Benefit Amount, $50,000 in any 12 month Policy period, regardless of the number of claims made in that 12 month Policy period. The Benefit Amount is payable on an excess basis over and above any amount due from any other valid or collectible insurance or any other form of reimbursement payable by those responsible for the loss or damage. DEFINITIONS:
DESCRIPTION OF COVERAGE commercial use; medical equipment; used, rebuilt, refurbished or CLAIM FORMS: When the Administrator is told of a claim, the remanufactured goods; shipping, handling, or transportation charges Administrator will give the Insured Person forms for filing Proof of Loss. for the cost of delivery of any Covered Purchase articles in a pair or If these forms are not given to the Insured Person within 15 days the authorize the Administrator to obtain records, reports or any other THE PLAN: As a Financial Institution Program Debit Cardholder, you set, coverage will be limited to no more than the value of any particular Insured Person will meet Proof of Loss requirements by giving the documentation requested necessary to Our investigation or to verify are automatically eligible for Buyer Protection insurance. part or parts unless the articles are unusable individually and cannot Administrator a written description of the covered loss. the claim. ELIGIBILITY: This insurance plan is provided to Financial Institution be replaced individually, regardless of any special value the article CLAIM PROOF OF LOSS: Complete Proof of Loss must be given to Administrator will give the Insured Person forms for filing Proof of Loss. Covered Purchase is charged to your Card account while the parts of a pair or set of jewelry or Fine Art. This insurance does not CLAIM PAYMENT: Reimbursement for covered losses will be paid to If these forms are not given to the Insured Person within 15 days the insurance is effective. It is not necessary for you to notify Financial apply to loss or damage of a) Covered Purchase caused directly or the Insured Person within 60 days after the Administrator receives Insured Person will meet Proof of Loss requirements by giving the Institution, the administrator or the Company when items are indirectly by: 1) Theft of i) personal property from vehicles, ii) personal Proof of Loss. Administrator a written description of the covered loss. purchased. property when the Insured Person fails to exercise Due Diligence and EFFECTIVE DATE: Your insurance becomes effective on the latest CLAIM PROOF OF LOSS: Complete Proof of Loss must be given to THE COST: This insurance plan is provided at no additional cost to iii) personal property stolen from public places when the Insured of: the effective date of this policy, the date on which you first meet the the Administrator within 90 days after a covered loss. eligible Financial Institution Program Debit Cardholders. Fina...
DESCRIPTION OF COVERAGE. This Policy operates upon the Insured Person charging the full carrier fares to his PB Visa/Mastercard Card.
DESCRIPTION OF COVERAGE commercial use; medical equipment; used, rebuilt, refurbished or CLAIM FORMS: When the Administrator is told of a claim, the (d) Emergency Call Relay. AirMed will receive or transmit emergency remanufactured goods; shipping, handling, or transportation charges Administrator will give the Insured Person forms for filing Proof of Loss. messages between the Participant, their family and their employer. for the cost of delivery of any Covered Purchase articles in a pair or If these forms are not given to the Insured Person within 15 days the AirMed is available to the Participant 24/7, every day of the year.
DESCRIPTION OF COVERAGE. In accordance with the provisions of this policy, the Insurer will pay to the beneficiary all eligible benefits up to the maximum amounts insured only if the service(s) were required as a result of Emergency Illness or Injury which occurred while the Insured Person was on a Trip and which required immediate medical services. Coverage is limited to a maximum of sixty (60) days per Trip commencing with the date of departure from the Insured Person’s province of Residence. If the Insured Person is hospitalized on the sixtieth (60th) day, benefits will be extended until the date of discharge.
DESCRIPTION OF COVERAGE. Master Disclosure for All Travel Insurance Provisions Worldwide Automatic Travel Accident & Baggage Delay Insurance
DESCRIPTION OF COVERAGE. In accordance with the provisions of this policy, the Insurer will pay, should the Insured Employee suffer an Injury, losses as listed in Section C5 - Benefits provided the Insured Employee was covered by this benefit at the time of the Accident.
DESCRIPTION OF COVERAGE. In accordance with the provisions of this policy, the Insurer will reimburse the reasonable and necessary charges for services or supplies received by the Insured Person within two years following the date the initial deductible under this plan is satisfied for such Eligible Expenses if an Insured Person requires medical or surgical treatment and incurs Eligible Expenses as described in Section F3 – Benefits and Eligible Expenses as a result of Injury or Illness. The total amount payable for reimbursement of all expenses, which an Insured Person has incurred as the result of all Injuries caused any one Accident, or as the result of any one Illness, will not exceed the all expense maximum per calendar year and the lifetime maximums as stated in the Schedule.
DESCRIPTION OF COVERAGE. This Description of Coverage provides a summary of the important features of the coverage. This is part of the insurance contract. This insurance is provided to Eligible Classes of persons of the Policyholder while those persons are on Covered Trips as defined hereafter. The persons eligible for coverage are: Class I All active employees and staff traveling outside the USA whose name is on file and for whom premium has been paid.
DESCRIPTION OF COVERAGE. Employees will receive benefits consistent with Plans, depending on their choice of health insurance coverage. Details of such benefits are available through MESSA and the Human Resources Department. Eligibility is subject to determination of eligibility by the long-term disability insurance carrier.