Adverse Selection

Attachment to a commercial package policy to cover counterfeit currency, depositor's forgery, employee dishonesty, and the loss of money, money orders, and securities by the insured ...

Critical point in the total amount of claims paid above which the excess insurance policy pays a percentage (generally 80-100%) of the claims for any policy year experience. ...

One where an injury or other harm takes time to become known and a claim may be separated from the circumstances that caused it by as many as 25 years or more. Some examples: exposure to ...

Procedure for accumulating, conserving, and distributing personal wealth. In essence, estate planning focuses on enhancement of the value of an estate and its conservation. At the death of ...

Series of premium payments made to purchase an annuity. This is the same method of purchase used for level premium insurance ...

Individual in charge of an insurance company agency. The manager is an employee of the company and is usually compensated on a salary-and-bonus basis, the latter relating to premium volume ...

Personal and family loss by death, disability, sickness, old age, accident, and unemployment. All of these exposures are insurable, and coverage's can be purchased under a variety of ...

Liability insurance that extends beyond the end of the policy period of a liability insurance policy written on a claims-made basis. Liability claims are often made long after the accident ...

Income paid to a worker who is temporarily disabled by an injury or sickness that is not work related. Compare with workers compensation benefits, which are available only to workers ...