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
Market in which buyers dominate trading and force financial asset prices up. ...
Annuity that continues income payments as long as one annuitant, out of two or more annuitants, remains alive. For example, a married couple would receive an income for as long as both ...
Insurance that covers each and every loss except for those specifically excluded. If the insurance company does not specifically exclude a particular loss, it is automatically covered. ...
Optional provision in a disability income policy that allows the policyowner to increase the monthly income sum at an approximate rate of 6%. ...
Several different types of perils covered under one policy. ...
Agency formed as the result of bank failures in the 1930s to insure the deposits of customers of member banks. The FDIC, an agency of the federal government, is self-supporting in that it ...
Policy underwritten on either a monoline primary insurance or monoline excess insurance basis that will allow the purchaser to increase the limits of liability coverage above that of ...
Circumstance under which several insurance policies cover an insured's property against damage or destruction, but since the limits of coverage, kinds of property, and perils covered are ...
Section of an insurance company that evaluates claims for their subsequent payment. ...
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