Licensed Carrier
Definition of "Licensed carrier"
Insurance company that is organized under the state laws by which the company is licensed and that is called a domestic insurer. Also, this insurance company may be chartered and licensed in another state or country and has obtained a license to conduct business in that particular state.
Popular Insurance Terms
Coverage on an all risks basis for fur garments belonging to customers of a furrier. ...
Policy whose premiums, cash value, and face amount are guaranteed (all values are fixed and do not fluctuate according to the loss experience, expenses, and investment returns of the ...
Total amount of insurance that an insurer will write on any specific city block. Such a limit will reduce the insurer's exposure to a potential catastrophic occurrence, such as a hurricane, ...
Division of a loss among insurance policies in the proportion that each policy bears to the total coverage applicable to the loss. For example, assume Policies A, B, C, and D have $50,000, ...
A procedure in which the employer has absolute liability for the injuries incurred by the employee and the employee does not have the right to sue the employer for those injuries suffered. ...
Sum provided by a disability income insurance that pays a multiple of the monthly indemnity to cover the costs associated with a retraining course attended by the insured wage earner when ...
Agreement among insurance companies through which a multinational employer is permitted to purchase employee benefits coverage's for two or more of its overseas subsidiaries under a single ...
Non qualified deferred compensation plan for highly compensated employees or select group of personnel. The reporting and disclosure requirements of the employee retirement INCOME SECURITY ...
Exceptions and limitations of coverage; that is, the maximum amount of insurance coverage available under a policy. ...
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