What is Trust ?? In Commercial Insurance lingo?
WHAT IS A TRUST OR WHAT DO THEY MEAN WHEN THEY ASK HAS BUSINESS BEEN IN A TRUST AND IF YES NAME IT WHAT IS TRUST IN INSURANCE TERMS
Answers:
A trust is a form of ownership.
Example: Teresa Hines-Kerry has a farm surrounded by Fox Chapel, PA. It's not actually owned by HER, it's owned by the Hines Family Trust.
If your business was surrounded by a trust, you'd know it. If you don't know, it's safe to answer "no" to that questions. Source(s): agent, 21+ years
Related Questions:
Answers:
A trust is a form of ownership.
Example: Teresa Hines-Kerry has a farm surrounded by Fox Chapel, PA. It's not actually owned by HER, it's owned by the Hines Family Trust.
If your business was surrounded by a trust, you'd know it. If you don't know, it's safe to answer "no" to that questions. Source(s): agent, 21+ years
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