Casualty Insurance
Coverage primarily for the liability of an individual or organization that results from negligent acts and omissions, thereby causing bodily injury and/or property damage to a third party. However, the term is an elastic one that traditionally has included such property insurance as aviation insurance, boiler and machinery insurance and glass and crime insurance.
Popular Insurance Terms
Legislation that provides support for legal actions against individuals or organizations involved in systematic illegal activities. This act has been applied against insurance organizations ...
Time frame during which an annuitant receives income payments from the insurance company, usually on a monthly basis. The obligations of the company to the annuitant during the liquidation ...
Life insurance distribution system under which the state underwrites and sells life insurance to any resident of Wisconsin who makes application. ...
Assets permitted by state law to be included in an insurance company's annual statement. These assets are an important factor when regulators measure insurance company solvency. They ...
Same as term Original Age: insured's age at the date a term life insurance policy is issued. An original age or retroactive conversion option permits the insured to convert the term policy ...
Employer's obligation to fund a pension plan for the time period when employees were qualified to participate but the plan was not yet established. For example, a pension plan is ...
Record of losses and premiums received for accident coverage within a 12-month period. These statistics show the percentage of each premium received that is being paid out in claims and ...
Insurance policy under which premiums are past due but the grace period has not expired. ...
Protection under the auspices of the federal government where such insurance cannot be purchased by a homeowner, business owner, or tenant at affordable community rates. A homeowner's or ...
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