Dictionary of Business Terms: floor plan insurance
floor plan insurance
coverage for a lender who has accepted property on the floor of a merchant as security for a loan. If the merchandise is damaged or destroyed the lender is indemnified. The policy is on an all risk basis.
Dictionary of Insurance Terms: floor plan insurance
floor plan insurance
coverage for a lender who has accepted property on the floor of a merchant as security for a loan. If the merchandise is damaged or destroyed, the lender is indemnified. The policy is on an all risks basis.
