Gross Earnings Form
Definition of "Gross earnings form"
Coverage for loss in the gross earnings of the business (minus expenses that cease while the business is inoperative) as the result of the interruption of normal business activities caused by damage to the premises by an insured peril. Non continuing expenses include light, gas, and advertising for which there is no contractual obligation. Coverage can be obtained on either a 50,60,70, or 80% coinsurance basis. Selection of the coinsurance percentage is dependent upon the length of time business is expected not to operate in die worst of circumstances.
Popular Insurance Terms
Observance of an event occurring on a repeated basis that leads one to believe that a certain probability is attached to the occurrence of that event. For example, if there are a red ball ...
Life insurance on the life of a child that provides a death benefit to a beneficiary should the child die during a stipulated time period and the maturity value of the policy at the end of ...
Future benefits to be paid to the policyholders and beneficiaries, assigned surpluses, and miscellaneous debts. These primary liabilities take the form of reserves, which must be listed on ...
Rules passed as part of the tax reform act of 1986 that limit the amount of income investors can shelter from current tax. Losses can be deducted from passive activities only in the amount ...
Monetary sum paid or payable to a recipient for which the insurance company has received the premiums. ...
To accept by a reinsurer, part or all of a risk transferred to it by a primary insurer or another reinsurer. ...
Policy that has many similar characteristics to that of the survivor-ship annuity in that the annuitant receives a predetermined monthly income benefit for life upon the death of the ...
Method of funding a pension plan through: an individual level cost basis, where future benefits for the employee are estimated and contributions are made periodically while the employee is ...
Policy designed to act as a supplement to Medicare. The supplementation is in the form of additional benefits to that provided by Medicare. The additional benefits are in the form of ...
Have a question or comment?
We're here to help.