Expense Loading
Definition of "Expense loading"
Amount added to the basic premium (expectation of loss) to cover an insurance company's expenses. These expenses include agent commissions, premium taxes, costs of putting a policy on the books, marketing support costs, and contingencies, current assumptions products, in order to be competitive, must emphasize low expense loadings. Companies that sell these products make special efforts to control expenses.
Popular Insurance Terms
Representative of an insurance company in soliciting and servicing policyholders. An agent's knowledge concerning an insurance transaction is said to be the knowledge of the insurance ...
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Present value of a series of payments such that the first payment is due one period hence, the second payment two periods hence, and so forth. The continued payment is contingent upon the ...
Remedy imposed by a court of law, usually in the form of a monetary award, as compensation to the insured party for the civil wrong incurred. A civil action is initiated by the injured ...
part of the Model Uniform Life and Health Insurance Policy Provisions Law giving an insurer a time limit on contesting coverage for preexisting conditions or misrepresentation. This law, ...
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One of the major underwriting organizations for insurance company pools insuring commercial aircraft liability exposure. ...
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