Initial Reserve
Definition of "Initial reserve"
Reserve at the beginning of the policy year that is equal to the terminal reserve for the preceding year plus the net level premium for the current year.
Popular Insurance Terms
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Amount of combustible matter present that can act as a fuel to feed a hostile fire. ...
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Same as term Canadian Institute of Actuaries: ...
Circumstance in which no agent is servicing a debit. ...
Period of time during which notice of claim and proof of loss must be submitted by the insured or his or her legal representatives. ...
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