Facultative
Reinsurance term under which the reinsurer exercises its faculty or prerogative to insure a risk or reject a risk from a ceding company.
Popular Insurance Terms
Factor considered in determining amount of life insurance to purchase in order that funds will be available to pay for a child's education expenses in the event of the premature death of ...
Year in which an annually renewable insurance policy was first issued. ...
Individual who possesses a unique ability essential to the continued success of a business firm. For example, this individual might have the technical knowledge necessary for research and ...
form of BOILER AND MACHINERY INSURANCE that covers power generating plants. form of BUSINESS INCOME COVERAGE FORM that covers a utility customer's losses resulting from interruption of ...
Plan that combines a profit sharing plan with a money purchase plan. It permits the participant to maximize the flexible part of the combination (profit sharing plan) after satisfying the ...
Membership organization of companies, academics, and individuals in the insurance business whose interest is to further education and research in insurance and risk management. The ...
Coverage for a loss incurred by the insured resulting from an infringement of the insured's patent or coverage for a claim made against the insured resulting from infringement by the ...
Assistance program for the financially needy. Medicaid, also referred to as Title XIX of the Social Security Act, was enacted in 1965 at the same time as medicare. It is a joint ...
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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