NOTE:  All definition are from the Insurance Bureau of Canada


BAILEE - In contract and property law one to whom goods or property are entrusted for a stated purpose. Can be either gratuitous (for no consideration) or for hire (for consideration).

BAILOR - A person entrusting goods to another.

BETTERMENTS - Physical improvements beyond mere maintenance or repairs that augment the value of a property.

BINDER - A temporary or preliminary agreement that provides  coverage until a policy can be written or delivered. 

BODILY INJURY - A term, mostly used in automobile insurance, meaning  physical injury as a result of a car collision.

BOILER AND MACHINERY INSURANCE -  This coverage protects an organization against any losses  that result from a breakdown of heating, refrigeration, air conditioning  equipment, pressure vessels, boilers, production machinery, electrical  apparatus and/or electronic equipment.

BROAD COVERAGE - This provides comprehensive insurance coverage for buildings  and named perils coverage for contents.

BREACH - Failure to live up to the conditions or warranties contained in a policy.

BROKER - An insurance broker sells insurance for more than one  company.

BUILDERS RISK INSURANCE - Insurance coverage on property under construction, including loss to temporary buildings, materials and supplies necessary to complete the construction project.

BURGLAR ALARMS - Devices of various types which give warning of entry into premises by unauthorized persons.

BURGLARY - Unlawful removal of property from premises involving visible forcible entry.

BUSINESS INTERRUPTION - Various types of insurance against business expenses and  loss of income resulting from a fire or other insured peril.

BY-LAW ENDORSEMENT - An endorsement explaining how a particular insurance company deals with a claim which is affected by a local by law.

  • We came back from London last Thursday night. Our daughter Anna had settled in London now and very anxious about her new school life. I want to thank you for introducing Fred to us for Anna's insurance. He was super helpful (day and night) that made me feel so easy to get things going as we travel.