Insurance Company (insurer)
Definition of "Insurance company (insurer)"
Organization that underwrites insurance policies. There are two principal types of insurance companies: mutual and stock. A mutual company is owned by its policy owners, who elect a board of directors that is responsible for its operation. A stock company is owned by its stockholders. In a mutual company, profits take the form of policy dividends, or refunds of part of premiums paid, which are distributed to policy owners. Profits in a stock company take the form of stockholders dividends, which are distributed to stockholders.
Popular Insurance Terms
Trust named from a private-letter ruling by the IRS that involved a trust established by a Jewish congregation on behalf of its rabbi. The operation of the trust involves the employer's ...
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Modification of split dollar life insurance policy in that the death benefit becomes payable upon the second death. This type of policy is ideal in those circumstances when estate taxes ...
Accrual or addition to life insurance benefits. ...
Total amount of insurance coverage available for an insured. ...
Addition to the homeowners INSURANCE POLICY AND COMMERCIAL PACKAGE POLICY that provides liability and medical coverage for damages resulting from the operation of motor boats too large to ...
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Trust whereby asset management is provided until a child reaches the age of majority. Upon reaching majority, the child has full use and control over the assets. The grantor of the trust ...
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