Book Value
Definition of "Book value"
Cost of the assets listed on the accounting records of the company. These assets include the following: real estate (to include any adjustments for depreciation), transportation equipment (to include any adjustments for depreciation), policy loans (limited to the unpaid principal balance plus any unamortized premiums minus any accrued discounts), mortgage loans (limited to the unpaid principal balance plus any unamortized premiums minus any accrued discounts), cash, and joint ventures. Not listed at book value are securities.
Popular Insurance Terms
Provision of a property insurance policy which covers conditions usually present in a particular location. For example, there is an inherent risk of explosion in a flour mill. ...
Program of health care designed for the prevention and/or reduction of illnesses by providing such services as regular physical examinations. This care is in opposition to curative care, ...
Break in commercial activities due to the occurrence of a peril. Coverage against business interruption by various named perils can be obtained through insurance. ...
Written notice, to be submitted by the claimant, required by the insurance company in the event of an insured peril. This notice is part of the standard property and casualty insurance ...
Year in which an annually renewable insurance policy was first issued. ...
Relationship of gains from investments (including realized capital gains) resulting from insurance operations to earned premiums. ...
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Central (main) office of an insurance company whose facilities usually include actuarial, claims, investment, legal, underwriting, agency, and marketing departments. ...
Legislation to eliminate most tax shelters and write-offs in exchange for lower rates for both corporation and individuals. It was intended to be revenue neutral; that is, to bring in the ...
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