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(also known as merit rating) method of setting property insurance rates by modifying or adjusting the manual rate for various classifications of risks. Modifications may be based on past or ...

Curve that results when yields on short-term treasury issues exceed those on long-term government debt. A widely accepted theory holds that when short-term and intermediate term issues are ...

Policy under which the insurer will pay the actual cash value of the property at the time the property was damaged or destroyed provided the loss falls within the limitations of the policy. ...

In some states, principle of tort law providing that in the event of an accident each party's negligence is based on that party's contribution to the accident. For example, if in an auto ...

Requirement that the insured must have stayed in a hospital or other health care facility for at least a specified period of time before being entitled to receive insurance benefits. This ...

Premium payment made by the policy owner under a universal life insurance policy, usually on an automatic monthly preauthorized bank draft basis. The amount of the payment is established ...

Organization that conducts research on distribution systems for the life and health insurance products on behalf of its member companies. Studies range from consumer attitudes towards the ...

Indemnification bond under which a stock certificate holder who loses the original certificate will be issued a duplicate. The indemnity bond guarantees that if the original stock ...

Application of conventional terms and conditions to the reinsurance of a risk. Contrast with non-traditional REINSURANCE. ...