Exculpatory Provision

Definition of "Exculpatory provision"

Clause in legal contracts that excuses a given party to the contract from liability for unintentional negligent acts and/or omissions.

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Approval Conditional Premium Receipt

Insurance policy in force only after the insurance company approves the application. Today, most com ...

Interinsurance Company Claims

Those claims that arise when two or more property and casualty insurance companies have coverage on ...

Paid Business

Life and health insurance business for which the prospective insured or insureds have signed the app ...

Minimum Group

Smallest number of individuals for which an insurance company will issue a policy. A minimum number ...

Age-weighted Profit-sharing Plan

Plan that combines the simplicity and flexibility of the traditional profit-sharing plan with the be ...

Unauthorized Insurance

Insurance policy sold by nonadmitted insurer. ...

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What is Long Term Care Insurance? What are the benefits of Commercial Auto Insurance? What is a fixed-rate mortgage? If I want to buy a house and I know the property and the seller already have an agent, can I act as my own agent and negotiate a lower fee? What are basis points?