Judicial Bond
Type of surety bond that is either a fiduciary or a court bond.
- Fiduciary Bond guarantees that individuals in a position of trust will safeguard assets belonging to others placed under their control.For example, guardians appointed by a court who are authorized to pay expenses of the minor and administrators of estates who take care of a deceased's assets may require fiduciary bond.
- Court Bond guarantees concerning ligation such as: (a) APPEAL BOND, which guarantees that a judgment will be paid if an appeal is lost in a higher court; (b) Plaintiff's Replevin Bond, which guarantees that damages will be paid if the replevin action is wrongfully brought; (c) Removal Bond, which guarantees that damages will be paid if improper removal actions are taken.
Popular Insurance Terms
Procedure under which the ceding company (the primary or fronting company) cedes the risk it has underwritten to its reinsurer with the ceding company retaining none or a very small portion ...
Type of organization of property and casualty insurance companies whose objective is to share information on fraudulent claims, handle claims in an expeditious manner, and disseminate ...
Case where an insurance company is placed by the state court under the control of the state insurance department. Claims are paid in the order filed until the insurance company's ability to ...
Sum of insurance provided by a policy at death or maturity. ...
Company that provides access to the internet through electronic communications. ...
Coverage for defense costs incurred in defending a company from an unfriendly takeover attempt. Hostile takeovers have been one of the hottest business topics in recent years. Vulnerable ...
Person covered by insurance under a blue cross or blue shield plan. ...
Association of life insurance agents who meet minimum life insurance sales standards predetermined each year by the organization. Membership is a primary goal of professional life insurance ...
Risk management practice designed to control losses by physically separating assets or operations (on separating a single exposure unit into various parts) to reduce maximum potential loss. ...
Have a question or comment?
We're here to help.