What does SCLP mean? Read on to discover the definition & meaning of the term SCLP - to help you better understand the language used in insurance policies.
A Simplified Commercial Lines Portfolio (SCLP) policy is a type of insurance that covers business and personal property. It pays for damage to buildings and personal property owned by the business, as well as improvements on the building financed by people other than the insured.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of SCLP. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: