Bailment

Professional designation earned after the successful completion of 10 national examinations given by the American Institute for Property and Liability Underwriters. Covers such areas of ...

Reinsurance of & re insurer such that the re insurer protects itself from a catastrophe occurrence. Just as an insurer must decide to cede to the re insurer a portion of a risk it has ...

Marine cargo coverage for a single shipment of goods. Also known as special risk insurance and trip cargo insurance. Contrasts with open policy cargo insurance that covers all of a ...

Amendment that modifies the federal flood insurance program by providing relocation and acquisition coverage for structures in imminent danger from an encroaching shoreline. This amendment ...

Percentage of confidence in a finding. For example, if an insurance company's total loss reserves should be $10,000,000 in order to attain an 80% confidence level that enough money will be ...

Limitation under a contributory pension plan of an employee's right to receive vested benefits. The employee can withdraw contributions to the pension plan only according to stated ...

Insurance that acts as a supplement to medicare in that it will pay the deductibles and coinsurance sums that the Medicare recipient is responsible for paying. In addition, some policies ...

Total amount of insurance coverage available for an insured. ...

Surcharge, in retrospective rating of property and liability insurance, added to the basic premium rate charged to reflect fixed cost of adjusting or settling losses. ...