Definition of "Float"
Funds set aside by an insurance company to pay incurred losses which have not yet been paid.
Popular Insurance Terms
Formerly an employer's defense under which an injured employee had to bring a cause for action against the fellow employee causing the injury, not the employer. Workers Compensation laws ...
Excess of loss reinsurance written on a facultative reinsurance basis to provide cover for a particular PRIMARY INSURANCE policy. ...
Organization that develops and administers educational materials and examinations for the life insurance industry. It awards the fellow, life management institute (FLMI) designation to ...
Insurance company that has the authority to assess or charge its policyholders for losses that the company is incurring. This company is sometimes called stipulated premium company or ...
Coverage usually provided as part of the storekeepers burglary and robbery insurance in the event merchandise, fixtures, equipment, and furniture are lost due to theft and burglary. ...
Figure used in calculating a worker's primary insurance amount (PIA) to determine Social Security benefits in the following manner: calculate the number of years between the worker's ...
Insurance company whose premium rates are usually below that of other insurance companies and the rating bureau. ...
Individual or organization that is a potential purchaser of an insurance product. ...
Premium that can vary up or down, Some life insurance policies permit the company to change the premiums after the policy is in force, depending on mortality experience, expenses, and ...
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