Same as term Fronting: procedure under which the CEDING COMPANY (the primary or fronting company) cedes the risk it has underwritten to its reinsurer with the ceding company retaining none or a very small portion of that risk for its own account.
Legal system in the United States, Great Britain, and other countries. Inherited from England, it is based on case decisions acting as the precedent, not on written law. ...
Organization of local life underwriter associations representing life and health insurance agents on practices of selling and servicing life and health insurance products. NALU sponsors ...
Method of investing that staggers the maturities of a group of bonds. As a bond matures, the investor can reinvest the proceeds in either short- or long-term bonds depending on the interest ...
Coverage of two or more persons with the death benefit payable at the first death. Premiums are significantly higher than for policies that insure one person, since the probability of ...
Principle that holds that social insurance programs should be for the benefit of lower socioeconomic segments of society and not for that segment of society that does not require financial ...
Termination of a policy. Contract may be terminated by an insured or insurer as stated in the policy. If the insurance company cancels a policy, any unearned premiums must be returned. If ...
Health insurance contract that is renewable at the option of the insurer. On the anniversary date of the contract, the insurer has the right to decide whether or not to renew. ...
Mechanism for providing coverage when the insured's underinsured motorist coverage limit is more than the tort feasor's limit of liability that has been previously reduced by claim payments ...
Insurance will cover any homemade or custom-built system, but you will need to have proof of ownership of each of the individual parts within the computer to file a claim. ...
Owning a condominium puts you in a unique position. Unique because you have both common and individual insurance needs. Odds are, your condominium association has an insurance policy for ...
1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- Limit Discussion. Talk only with the police or ...
An HMO provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium. A PPO differs from an HMO in that the PPO has no separate physical ...
First, stay calm. Freaking out won’t help anyone. Whenever there’s an accident everyone gets hyper and tense; being calm will be a blessing to everyone. Plus; it’s your ...
Warranties primarily cover manufacture\'s defects parts that go bad from regular use. Insurance covers things like- Theft Fire Power surges Lightning Spilled coffee in the keyboard ...
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