Assessment Company
Insurance company that has the authority to assess or charge its policyholders for losses that the company is incurring. This company is sometimes called stipulated premium company or assessment association. These companies were relatively common in the 1800s and early 1900s but have since become rare. Most insurance companies cannot assess policyholders for losses.
Popular Insurance Terms
Type Of GUARANTEED INVESTMENTS CONTRACT in which funds for the contract are put in the insurance company's general account ...
Type of pension plan in which the employer (if noncontributory plan) or the employer and employee (if contributory plan) make level annual premium payments to fund the future retirement ...
Ratio commonly used by the property and casualty insurance industry as a measure of financial strength or to indicate to what degree a particular insurance company is leveraged. A low ratio ...
One that combines the two forms of ownership, stock and mutual. A stock insurance company is owned by stockholders, whereas a mutual insurance company is owned by its policyholders. A mixed ...
Instrument that uses noncombustible substances such as carbon dioxide to deprive a fire of oxygen, thereby extinguishing it. ...
Sickness incurred by the insured that does not require restriction of activity to the indoors. ...
Vehicle that is available to anyone in the United States as a means for savings in a tax-exempt fashion for college, graduate, or professional schools or other eligible accredited business, ...
Deductible amount between a basic health insurance plan and major medical insurance. ...
Trade association located in New York City, consisting of approximately 200 captive insurance companies. The objective of the association is to further the common interests of its members. ...
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