Loss Carryback
Definition of "Loss carryback"
Ruling that, under current tax law, if an insurance company is to use a loss carryforward accounting adjustment, the company must first offset a net income loss in a specified time period against a net income gain in the three preceding years.
Popular Insurance Terms
Property insurance premium rate that is applicable to a single, particular piece of property. ...
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Legislation passed in 1988 by the U.S. Congress to facilitate movement of checks through the collection system. As the result of this Act, the Federal Reserve has established rules for the ...
Same as term Agreed Amount Clause: in property insurance, a stipulated agreement between the insurance company and the insured that the amount of insurance coverage under the policy is ...
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. ...
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Frequency of premium payment; for example annually, semiannually, quarterly, or monthly. ...
Same as term Application: written statements on a form by a prospective insured about himself, including assets and other personal information. These statements and additional information, ...
Date at which insurance protection begins. ...
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