GLOSSARY
This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
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Bailee

Person or organization that has possession of the property of others, usually for storage, repair, or servicing. A dry cleaning operation is a common example of a bailee.

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Approved for 1 Hour of State Reported CE Credit in AR, AZ, CA, DE, CO, FL, GA, IA, IL, IN, KS, KY, LA MA, MD, MI, MO, MN, NC, NE, NJ, NY, OH, OK, OR, PA, PR, SC, TN, TX, UT, WA and WI