Expense Reimbursement Allowance
Definition of "Expense reimbursement allowance"
Same as term Expense Allowance: payment to an insurance agent in addition to commissions. Expense allowances, that differ from company to company, vary with the amount of business agents place with that company and the need of the company to attract future business.
Popular Insurance Terms
Act passed by Congress in 1991, the purpose of which is to make it easier for consumers to compare deposit accounts among savings institutions (SI). Some of the act's more important ...
Property owned by two or more parties in such a way that at the death of one, the survivors retain complete ownership of the property. ...
Unexpected claims occurring above the expected claims for which a contingency reserve is maintained. ...
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Element of a life insurance policy permitting the policy owner to change a beneficiary as frequently as desired unless the beneficiary has been designated as irrevocable. Here the written ...
In reinsurance contracts, clause that requires the re-insurer to provide coverage if an underlying carrier is unable to fulfill its obligations under the policy ceded to the re-insurer. ...
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Agreement among insurance companies through which a multinational employer is permitted to purchase employee benefits coverage's for two or more of its overseas subsidiaries under a single ...
Earned premium minus incurred losses plus loss adjustment expense plus other incurred underwriting expenses plus policy owner dividends. This income is generated from the insurance business ...
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