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
Price an investor is willing to pay for a financial asset. ...
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Exposures usually excluded from life and health insurance, or subject to a maximum limit if covered. ...
Coverage on an all risks basis for goods in transit, bailment, and while on the premises of others. ...
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Costs incurred by an insurance company other than agent commissions and taxes; that is, mainly the administrative expense of running a company. ...
Agents' records showing when clients' policies expire. ...
Arrangement between two or more insurance companies under which the parties to the agreement waive their subrogation rights against the other. Most such agreements are no longer in use. ...
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