Contingencies | Insurance Glossary

Definition of "Contingencies"

Unexpected claims occurring above the expected claims for which a contingency reserve is maintained.

Derivative representing a legal obligation to carry out a transaction that has been prearranged acco ...

Mortgage for an extended time period (e.g., 25 years) Type of real estate investment trust (REI ...

Costs that the borrower must pay at the time of closing, in addition to the down payment. ...

Single mortgage or other encumbrance that covers more than one piece of real estate. ...

Federal law passed in 1920 that allows any seaman incurring bodily injury as the result of the perfo ...

Compensation for loss. In a property and casualty contract, the objective is to restore an insured t ...

General Liability Coverage includes: Bodily Injury Liability Coverage: Help protect you in case ...

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest ...

Loss of luggage Loss of travel documents Cancellation and lost deposit expenses Medical expens ...

A convertible ARM is an adjustable- rate mortgage (ARM) that can be converted into a fixed rate mort ...

A gated community is a community of homes where you must pass through a security gate in order to en ...

When you are prequalified, the lender gives you an estimate but does not formally commit to giving y ...

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