Lloyd's Of London

Provision that holds a re-insurer liable for its share of losses even if the ceding company becomes insolvent before paying these losses. For example, XYZ Insurance Co. writes a fire policy ...

General arrangement of a contract between an insurer and an insured. The policy defines the insured and the type of coverage, lays out what the insurer must do, lists exceptions and ...

Flat dollar amount that is added to the pure premium for an insured risk that is smaller than that of the lowest experience rating band. This dollar amount serves the purpose of generating ...

Unexpected, unforeseen event not under the control of the insured and resulting in a loss. The insured cannot purposefully cause the loss to happen; the loss must be due to pure chance ...

Relationship of gains from investments (including realized capital gains) resulting from insurance operations to earned premiums. ...

Smallest number of individuals for which an insurance company will issue a policy. A minimum number is required because the fixed expenses of placing a policy on the books exist regardless ...

Same as term Direct Response Marketing: method of selling insurance directly to insureds through a companies own employees, through the mail, or at airport booths. The company uses this ...

Government group that provides reinsurance for private insurers that write riot and civil commotion insurance. Riot losses in major cities in the 1960s caused insurers to stop writing this ...

Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the proper insurance protection. Consider the ...

An HMO provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium. A PPO differs from an HMO in that the PPO has no separate physical ...

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your agent\'s help, may speed things along. ...

Insurance will cover any homemade or custom-built system, but you will need to have proof of ownership of each of the individual parts within the computer to file a claim. ...

Liability Coverage: In case you're sued as a result of an auto accident. Collision Coverage: Helps cover physical damage to your vehicle due to collision or upset. Comprehensive Coverage: ...

A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better no worse. ...

Whole life insurance insurance provides the coverage amount to your beneficiary in the of your death, as well as cash value savings you can use during your lifetime. ...

Health insurance also known as .disability insurance. is insurance of human beings against bodily injury, disablement, or death by accident or accidental means. ...