Alien Insurer
Definition of "Alien insurer"
Insurance company formed according to the legal requirements of a foreign country. In order for an alien insurer to be able to carry on general operations and sell its products in a particular state in the United States, it must conform to that state's rules and regulations governing insurance companies.
Popular Insurance Terms
Form of deductible usually found in disability income insurance; for example, no benefits may be payable for a length of time beginning with the first day of illness. Subsequently, benefits ...
Tax advantages of investing in life insurance fall into two main areas: tax deferral on untaxed buildup of earnings in such cash value policies as whole life insurance and annuities, and ...
Right of one party to use land owned by another party. For example, an electric utility can obtain an easement through court action to place its power lines across someone's property, even ...
Government agency whose function is to administer the Federal Flood Insurance Program, the Federal Crime Insurance Program, and the fair access to insurance requirement (fair) plan. ...
Coverage for an insured firm if its business debtors fail to pay their obligations. The insured firm can be a manufacturer or a service organization but it cannot sell its products or ...
Provision in property insurance that waives, under specified circumstances, the requirement for an inventory of undamaged property when a damage claim is filed. A coinsurance clause in a ...
Insurance company whose premium rates are usually below that of other insurance companies and the rating bureau. ...
Set of yield curves in which an interest rate is specified for various maturities such as monthly, quarterly, or annually. The basis of the interest rate can be corporate bond rates, United ...
Coverage for goods during shipment on a common carrier. ...
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