Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Asset-coverage test
accounting. A bond-indenture restriction that permits additional borrowing only if the ratio of assets (typically net tangible assets) to debt (typically long-term debt) does not fall below a specified minimum.
Coverage
n. 1. Inclusion of a risk under an insurance policy; the risks within the scope of an insurance policy. - cover, ub.
additional extended coverage.
Insurance. A policy endorsement providing supplemental residential coverage for a variety of perils, including vandalism, damage from falling trees, and water damage from the plumbing system.
coverage opinion
A lawyer's opinion on whether a particular event is covered by a given insurance policy.
coverage ratio
A measurement of a firm's ability to cover its financing charges.
dependent coverage
See COVERAGE.
doctrine of illusory coverage
A rule requiring an insurance policy to be interpreted so that it is not merely a delusion to the insured.
extended-coverage clause
Insurance. A policy provision that insures against hazards beyond those covered (or excluded) in the basic policy.
full coverage
Insurance protection that pays for the full amount of a loss with no deduction. 2. The ratio between corporate pretax income and corporate liability for bond interest payments.
interest-coverage ratio
The ratio between a company's pretax earnings and the annual interest payable on bonds and loans.
quarters of coverage
The number of quarterly payments made by a person into the socialsecurity fund as a basis for determining the person's entitlement to benefits.
underinsured-motorist coverage
Insurance that pays for losses caused by a driver who negligently damages the insured but does not have enough liability insurance to cover the damages. Cf. UNINSURED-MOTORIST COVERAGE.
uninsured-motorist coverage
Insurance that pays for the insured's injuries and losses negligently caused by a driver who has no liability insurance. Cf. UNDERINSURED-MOTORIST COVER, AGE.