Account Current
Definition of "Account current"
Financial statement, issued by the insurance company on a monthly basis to its agents, showing for each agent his or her commissions earned, premiums written, policy cancellations, and any policy endorsements.
Popular Insurance Terms
Model act written and published by the national association of insurance commissioners (naic) whose purpose it is to regulate brokers who control insurance companies. The act permits the ...
Method of pricing property and liability insurance. It uses charges and credits to modify a class rate based on the special characteristics of the risk. Insurers have been able to develop a ...
Cancellation of an insurance policy on the date that policy becomes effective. This type of cancellation does not require any fees to be paid to the insurance company. ...
Endorsement to a homeowners insurance policy or a personal automobile policy (pap) that covers physical damage to a snowmobile wherever it happens to be. Coverage can be on named peril or ...
Extension of a Workers Compensation and Employers Liability Insurance policy to cover workers who go aboard ship to perform their jobs. ...
Same as term Dividend Addition: option in a participating policy under which dividends are used to purchase fully paid-up units of whole life insurance. This option deserves careful ...
Coverage on an all risks basis for loss or damage to fur and jewelry at any location. Furs and jewelry must be scheduled in order to be covered. ...
Statistic indicating the degree of dispersion in a set of outcomes, computed as the arithmetic mean of the differences between each outcome and the average of all outcomes in the set. ...
Form of insurance whereby the buyer (reinsurer) assumes the entire obligation of the cedent company, effected through the transfer of the policies from the cedent to the books of the ...
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