General Operating Expense
Definition of "General operating expense"
Costs incurred by an insurance company other than agent commissions and taxes; that is, mainly the administrative expense of running a company.
Popular Insurance Terms
Technique of loss control and reduction of losses in insurance. Supporters of this method believe that the safety attitudes of individuals determine the safety precautions they take. The ...
Agents, managers, and office personnel serving in the branches of an insurance company. ...
Organization that develops and administers educational materials and examinations for life insurance agents. A significant objective of the courses is sales technique. ...
Model state law of the NAIC that stipulates that the total sum of medium grade bonds (bonds carrying a rating of 3, assigned by the Securities Valuation Office of the NAIC) and lower grade ...
Clause in an insurance policy stipulating that the benefits under the policy will accrue to the right of the insured. For example, if the insured leaves a violin at a repair shop and that ...
Coverage during the transfer of securities and monies, precious metals, and other specified types of valuables by armored guard services. Policies are specifically designed to fit an ...
Strategy of regularly investing a fixed amount of dollars into a variable dollar annuity over a substantial period of time regardless of the accumulation unit value. The investment will be ...
Break in commercial activities due to the occurrence of a peril. Coverage against business interruption by various named perils can be obtained through insurance. ...
Clause in a reinsurance policy that excludes the reinsurer's liability for losses occurring after a stipulated date. ...
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