In insurance, volume of premiums written. Also describes commercial activities with the profit motive as the goal of the organization. Commercial insurance companies are organized with the profit motive as the normal business objective.
Popular Insurance Terms
Financial statement, issued by the insurance company on a monthly basis to its agents, showing for each agent his or her commissions earned, premiums written, policy cancellations, and any ...
Value of benefit or contribution allocated to an employee under a pension plan; method of determining benefits due a retired employee. Each private pension plan establishes rules for ...
Payments due to an insurance company but not yet paid. ...
Provision in an insurance policy that indicates what is denied coverage. For example, common exclusions are: hazards deemed so catastrophic in nature that they are uninsurable, such as war; ...
Mandatory age of retirement. ...
State laws that prohibit for an unreasonable period of time the accumulation of income under the option modes of settlement of a life insurance policy unless the beneficiary of the policy ...
Individual in charge of an insurance company agency. The manager is an employee of the company and is usually compensated on a salary-and-bonus basis, the latter relating to premium volume ...
Bonds issued by the United States Treasury that pay a semiannual interest rate tied to the Treasury auction plus an additional interest rate tied to the rate of inflation during this ...
Assumption that an employer is liable for negligent acts or omissions of employees that result in bodily injury and/or property damage to third parties if those acts are in the course of ...
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