Baseline Data
Definition of "Baseline data"
Statistics (such as health data from physical examination of employees or other insureds) used as a benchmark from which deviations and comparisons of expected losses, as well as future actual losses, are measured.
Popular Insurance Terms
Circumstances in life insurance in which, although a minimum rate is guaranteed, a policyowner may earn additional (excess) interest, depending on the company's investment return. ...
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, ...
Management philosophy developed by W. Edwards Deming, the thesis of which is the continuous improvement in quality through research in customer satisfaction and the empowerment of ...
Group of underwriters with Lloyd's of London who specialize in underwriting a particular risk such as hull insurance. ...
Employee benefit insurance plan whose objective is to provide the retired employee with life insurance. This group life insurance product is composed of two basic parts: annually renewable ...
Same as term Annual Policy: contract remaining in force for up to 12 months unless canceled earlier. After 12 months the policy can either be renewed or not renewed by the insurance company ...
Required minimum amounts of coverage that an insurance company will underwrite. For example, for auto liability coverage the minimum that many companies will write is $25,000. Most ...
Procedure for accumulating, conserving, and distributing personal wealth. In essence, estate planning focuses on enhancement of the value of an estate and its conservation. At the death of ...
Insurance company that becomes subrogated to the rights of another party. ...
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