Adverse Selection

Commercial life insurers that operate on the legal reserve system as opposed to fraternal life insurance companies, many of which now operate on a legal reserve basis. ...

Coverage against only two perils, fire and lightning. The amount of coverage is per acre of standing timber for either merchantable trees (living trees with no decay, and minimum diameter), ...

Trust in which rights to make any changes therein are surrendered permanently by the grantor. The grantor uses this type of trust to transfer assets and any potential depreciation out of ...

Addition to a basic insurance policy to further explain coverages, add or exclude perils and locations covered, and add or delete positions covered. For example, an endorsement to the ...

Combination of the funds of many policyholders held in a single account and invested as a single entity. ...

State law that stipulates that the worth of separate accounts must be valued at current market with the exception of those separate accounts established and maintained for guaranteed ...

Coverage in which an initial premium is charged, with the stipulation that an additional premium can be charged later if the loss experience of the insurance company warrants it; that is, ...

Vehicle for the deferring of unneeded current income for a later date, such as retirement, providing the following benefits: There is no tax on earnings of the plan until distributed; ...

One of the major underwriting organizations for insurance company pools insuring commercial aircraft liability exposure. ...