Insurance company that actually underwrites and issues the insurance policy. The term is used because the insurance company assumes or carries the risk for policyowners. The agent usually has a primary carrier (the insurance company to which most of the business is submitted) and secondary carriers (to which lesser amounts are submitted). The primary carrier provides the agent with commission schedules, expense allowance, and the availability of markets for the agent's business.
Popular Insurance Terms
Individual (s) entitled to receive the income generated by the trust. ...
Coverage for persons whose medical history includes serious illness such as heart disease or whose physical condition is such that they are rated below standard. A policy may specifically ...
Independent federal government organization authorized by the employee retirement income security act of 1974 (erisa) to administer the pension plan termination insurance program. Its ...
Resident patient of a medical installation. Previously, health insurance benefits were limited to in-patient care. Today health insurance policies provide an extensive list of out-patient ...
Property insurance coverage for only one of the parties having an insurable interest in that property. ...
To accumulate. For example, under one of the dividend options of a participating life insurance policy, dividends can accumulate at interest by leaving them with the insurance company; cash ...
Sum total of the annual effective rate of return earned by an owner of a bond if that bond is held until its maturity date. This effective return includes the current income generated by ...
Costs associated with renewal commissions as a percentage of the renewal premiums, and the servicing charges for previously issued insurance policies. ...
Gain when the underlying asset that moves in one direction is significantly different from the loss when the underlying asset moves in the opposite direction; for example, when gains and ...
Have a question or comment?
We're here to help.