Federal Savings And Loan Insurance Corporation (fslic)
Definition of "Federal savings and loan insurance corporation (fslic)"
Agency of the federal government formed as the result of bankruptcies of savings and loan associations during the 1930s. Insures deposits of customers up to $100,000 for each account. In 1986, 1987, 1988, 1989, and 1990, when numerous savings and loan associations failed or nearly failed, FSLIC backed up their deposits and prevented runs.
Popular Insurance Terms
Same as term CEDE: to transfer a risk from an insurance company to a reinsurance company. ...
Single contract coverage on a group basis issued to an employer. Group members receive certificates as evidence of membership summarizing benefits provided. ...
Actuarial evaluation of the assets of a pension plan according to the fair market value of the assets. ...
Amount of insurance remaining on a ceding company's books, net of the amount reinsured. ...
Same as term: Total Loss: condition of real or personal property when it is damaged or destroyed to such an extent that it cannot be rebuilt or repaired to equal its condition prior to the ...
Transfer of high severity risks through the insurance contract to protect against catastrophic occurrences. While insurance is generally not the most cost-effective means of recovery of ...
Excess coverage over the first layer of medical insurance to provide for catastrophic medical payments. The first layer may be either group or individual medical insurance, or an individual ...
Trust that qualifies assets under the marital deduction provision in the Federal Tax Code for favorable treatment of an estate. The surviving spouse has the full power to use the assets of ...
Total premiums received by a property and liability insurance company without any adjustments for the ceding of any portion of these premiums to the reinsurer. ...
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