Associate In Marine Insurance Management (amim)
Professional designation earned after the successful completion of six national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as ocean marine insurance, inland marine insurance, principles of risk management and insurance, insurance company operations, legal environment of insurance, and management. Program of study is recommended for individuals involved in the areas of ocean marine and inland marine insurance.
Popular Insurance Terms
General: net premium, plus operating and miscellaneous expenses, and agent's commissions. Life insurance: premium before dividends are subtracted. ...
Describing the process of developing the ultimate losses and then adjusting them to the cost levels projected for the period of time to be forecasted. ...
Requirement of the Internal Revenue Service that any dividend payments received are subject to a 20% withholding if the investor fails to furnish the dividend payer with the investor's ...
Smallest acceptable premium for which an insurance company will write a policy. This minimum charge is necessary to cover fixed expenses in placing the policy on the books. ...
Inland marine policy addition that provides coverage to owners of sheep, and to warehouseowners who store wool as well as wool in transit. ...
Insurance written on the personal and real property of an individual (or individuals) to include such policies as the home owners insurance policy and personal automobile policy. ...
Government reinsurance program that provided coverage for U.S. properties during World War II. Private insurers shared the first layer of coverage, with the government providing ...
Contract providing income payments beginning when the named contingency occurs. For example, upon the death of one spouse (the contingency), a surviving spouse will begin to receive monthly ...
Massachusetts commissioner of insurance responsible for the passage of legislation (1861) that guaranteed policy owners of that state equity in the cash value of their life insurance. The ...
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