[I073]

institutional policy

A package policy forming a part of the special multiperil policy program applicable to institutional buildings (such as buildings occupied by educational, religious, sanitary, charitable, governmental, or nonprofit organizations). Basically, the policy covers fire, allied lines and liability, and can be extended for most additional required coverages such as boiler and machinery, burglary and robbery, fidelity, business interruption, etc.

Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100

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