A borrower who does not meet the underwriting requirements of mainstream lenders. Sub-prime borrowers pay more than prime borrowers and are sometimes taken advantage of....

in a life insurance policy, benefit in addition to the death benefit paid to the beneficiary, should death occur due to an accident. In double indemnity, twice the face value of the policy will be paid to the beneficiary; in triple indemnity, three times the face value is payable. Accidental death c...

Actual or attempted malicious and deliberate burning of a physical asset owned by another party. Coverage against arson is provided under property insurance, but only if the insured has not committed the arson. The property insurance business has long worked to discourage arson and to prosecute arso...

Authorization to borrow from the U.S. Treasury by the issuance of notes to the Treasury. The Secretary of the Treasury must approve the notes and their interest rates. The PBGC must be self supporting through the premium it charges for various plans and thus its notes carry the same obligations of a...