Fire Resistive Construction
Definition of "Fire resistive construction"
Use of engineering-approved masonry or fire resistive materials for exterior walls, floors, and roofs to reduce the severity of a potential fire and lower premium rates.
Popular Insurance Terms
Insurance company's total premium income plus investment income. ...
Long-term investment plan strategy under which all of the investor's investable assets are divided into predetermined proportions among several different types of securities. In theory, ...
One of the major underwriting organizations for insurance company pools insuring commercial aircraft liability exposure. ...
Expenses and taxes incurred by the insurance company resulting from the normal business activities of the company before the due date of the annual statement. ...
Coverage on an all risks basis whether the airplane is on the ground or in the air; also called hull aircraft insurance. Exclusions, although none are standard, include illegal use of an ...
Mathematical premise stating that the greater the number of exposures, (1) the more accurate the prediction; (2) the less the deviation of the actual losses from the expected losses (X - x ...
Requirement that an individual must withdraw a minimum sum annually from retirement savings that have accumulated on a tax-deferred basis. This withdrawal must begin by April 1 of the year ...
In insurance, individual with rightful possession of an insurance policy, usually the policyowner. ...
Projected percentage of the earned premiums that will be required by the insurance company to pay for the incurred losses plus the loss adjustment expense. ...
Have a question or comment?
We're here to help.