Acquisition Cost Term
Expense of soliciting and placing new insurance business on a company's books. It includes agent's commissions, underwriting expenses, medical and credit report fees, and marketing support services. Because of competition, significant efforts are made by insurance companies to lower acquisition costs. Traditional captive agent companies have often turned to brokerage as additional distribution or sole distribution channels for this reason.
Popular Insurance Terms
Deferred annuity under which one premium payment is made and the annuity is paid up (no further premium payments are required). ...
Coverage for bodily injury, property damage or destruction, for which the insured garage and/or its representatives become legally liable resulting from the operation of the garage. For ...
Same as term Disability Benefit: income paid under a disability policy that is not covered under workers compensation benefits. It is usually expressed as a percentage of the insured's ...
Formal process of setting aside funds on a mathematical basis to provide deferred income benefits. ...
Specific values of securities computed annually by the national association of insurance commissioners (NAIC) as guidelines and procedures for insurance companies in listing of their ...
List of cash allowances for various types of surgeries. ...
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tort against another person's property, designed to detain or dispose of it in a wrongful manner. For example, wrongful selling of another person's automobile without permission would ...
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