Assessable Insurance
Definition of "Assessable insurance"
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, if losses exceed premium income.
Popular Insurance Terms
Holding of property, or otherwise acting on behalf of another in trust. The fiduciary must exercise due care in safeguarding property left under personal care, custody, and control. ...
Rate used as the basis for calculating benefits under workers compensation insurance. ...
Method of calculating retirement benefits under pen ...
Premise that, out of a large group of people, a given number will die each year (conversely, a given number will remain alive each year) until all the people in that original group are ...
Unit of the life office management association (LOMA), which prepares and administers educational materials for the Fellow Life Management Institute (FLMI) Program. Upon successful ...
Over a long period of time, the average loss an individual, individuals, or an organization can expect to incur from a particular exposure. ...
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Direct relationship between the use to which a building is put and the likelihood that it will catch on fire. Occupancy is one of the most important factors in setting fire insurance rates. ...
Arrangement by an employer in which employees share in profits of the business. To be a qualified plan, a predetermined formula must be used to determine contributions to the plan and ...
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