All Risks
Definition of "All risks"
Insurance that covers each and every loss except for those specifically excluded. If the insurance company does not specifically exclude a particular loss, it is automatically covered. This is the broadest type of property policy that can be purchased. For example, if an insurance policy does not specifically exclude losses from wind damage, or from a meteor falling on the insured's house, the insured is covered for such losses.
Popular Insurance Terms
Association of general agents and managers affiliated with the NATIONAL ASSOCIATION FOR LIFE UNDERWRITING (NALU). Their objective is to seek solutions to common managerial problems. GAMC ...
Insurance for accountants covering liability lawsuits arising from their professional activities. For example, an investor bases a buying decision on the balance sheet of a company's annual ...
Difference between the actual mortality experience and the expected mortality experience. In statistical terms, this is known as the deviation of the actual (X) from the expected (X). The ...
Present value of future benefits. This type of reserve would be applicable for single premium life insurance, paid-up insurance, single premium annuity, and a paid-up annuity. ...
Specified amount received by an insured at the end of an endowment period (usually the face amount of the endowment policy), or by the owner of an ordinary life policy (usually the ...
Endorsement attached to an insurance policy that eliminates coverage for certain specified perils. ...
In a pension plan that an employer is required to make against future contributions (other than a cash basis as required by the IRS). Such credits may arise when an employee leaves an ...
Dividends paid historically, currently, and projected. ...
Tax, under federal and state laws, on transfer of property made without payment or other value in exchange. ...
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