Cotton Insurance
Coverage for property damage by a covered peril to insured cotton during the time period from its weighing in at the gin until its delivery to the buyer. Written either on a specified peril basis or on an all risks basis. The purpose of cotton insurance is much the same as the purchase of insurance by a merchant to protect business inventory prior to its sale, since in many instances the primary asset is the inventory.
Popular Insurance Terms
In which at least two insurance policies provide identical coverage for the same risk. ...
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Present value computation of the accrued or projected benefits of a retirement plan. This computation is known as the actuarial valuation because it is based on probability (retirement ...
Record of losses, whether or not insured. This record is used in predicting future losses and in developing premium rates based on expectation of insured losses. ...
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Actuarial equivalent method of calculating the premium rate through the development of the following equation: probability that the event insured against occurs x face amount of policy x ...
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Act that provides new funding for the Bank Insurance Fund and enhances the safety and soundness of the financial system. The FDICIA includes the Foreign Bank Supervision Enhancement Act ...
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