Experienced Morbidity

Coverage by at least two insurance policies providing the same coverage for the same risk. ...

The surplus resulting from an additional amount of capital necessary to act as a supplement to the reserves in the event of unforeseen contingencies that would impair the insurance ...

Same as term Binder: temporary insurance contract providing coverage until a permanent policy is issued. In property and casualty insurance, some agents have authority to bind the insurance ...

Limiting provision. Exclusions listed in group health plans include: benefits under Workers Compensation; certain dental procedures; convalescent or rest cures; medical expenses resulting ...

Ratio of the company's investment in noninvestment grade bonds dividend to its adjusted surplus. This ratio shows how vulnerable the company's surplus is to the market fluctuations in ...

Account established to manage the assets of a minor. This account is under the auspices of a custodian (either an individual or an institution). The gift tax exclusion would apply on any ...

Endorsement to the special multiperil insurance (smp) policy that provides all risks damage coverage for personal property. There are special limitations on amounts of coverage for furs, ...

Statistics (such as health data from physical examination of employees or other insureds) used as a benchmark from which deviations and comparisons of expected losses, as well as future ...

Fund that contains the portion of the premium that has been paid in advance for insurance that has not yet been provided. For example, if a business pays an annual premium of $1000 on ...