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Today's Terms
Quote
Definition:
An estimate of the cost of insurance based on information supplied to the insurance company.
Binder
Definition:
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Misdemeanor
Definition:
Criminal offenses less than felonies; generally those punishable by fine or imprisonment of less than 90 days in a local facility. A gross misdemeanor is a criminal offense for which an adult could be sent to jail for up to one year, pay a fine up to $5,000 or both.
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