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
Pension plan funding instrument in which contributions paid by an employer are deposited to accumulate at interest. (These plans are usually noncontributory.) Upon retirement, an immediate ...
Individual who is legally responsible for taking care of another individual (s) who is deemed to be incapable of managing his/her own affairs. For example, children under the age of ...
Coverage on cargo in overseas ships for war-caused liability excluded under standard ocean marine insurance. Not covered is cargo awaiting shipment on a wharf, or on ships after 15 days of ...
Commission that is paid based on how profitable a particular type of business proves to be that is written by an agent. ...
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Theft of another's property by a person entrusted with that property. Coverage can be found under various bonding arrangements. ...
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