Guaranteed Investment Contract (gic)

in health insurance, reimbursement for an insured's medically related expenses, including room and board, surgery, medicines,anesthetics, ambulance service to and from a hospital, ...

Insurance company that transfers a risk to a reinsurance company. ...

Situation where the United States dollar rises in value in comparison with other foreign currencies resulting in the decrease in the value of the foreign securities. This is due to the fact ...

Total amount of insurance that an insurer will write on any specific city block. Such a limit will reduce the insurer's exposure to a potential catastrophic occurrence, such as a hurricane, ...

Standard State Valuation and Non forfeiture Law approved by the national association of insurance commissioners (naic) in 1942. This law is named for Alfred N. Guertin, the actuary who ...

Provision found in property and liability insurance policies that mandates that the insured notify the insurance company as soon as possible following the occurrence of a covered loss under ...

Synopsis of the key financial figures concerning the pension plan that is contained in the form 5500 that must be filed annually with the Internal Revenue Service. This report must be given ...

Accounting method of establishing data on an annual basis. ...

Method of accessing capital by the insurance industry in order to hedge against a future catastrophic occurrence. The mechanism works as follows: Primary insurance company AJAX pays a ...