Marine Insurance
Definition of "Marine insurance"
Coverage for goods in transit and the vehicles of transportation on waterways, land, and air.
Popular Insurance Terms
Coverage in which an applicant lot required to take a medical examination, instead answers written questions to ascertain his current physical condition. ...
Provision in automobile insurance, such as the personal automobile policy (pap), stating that a particular policy furnishes adequate coverage, the minimum of which is at least equal to that ...
Size of the losses used as a factor in calculating premium rates. For example, the U.S. Bureau of Labor Statistics studies the number of days lost by injured employees per million ...
Principle that no liability exposure can result from the performance of proprietary functions. ...
Based on historical loss experience, from which future loss experience is predicted. ...
Insurance coverage placed by a broker with an insurance company. ...
Table used by the Internal Revenue Service (IRS) in evaluating split dollar life insurance plans as to the extent of the economic benefit that is considered taxable ordinary income to the ...
Assembly of people formed only for obtaining group insurance. Such a group is uninsurable and violates underwriting principles concerning group insurance. ...
Reduction of private pension benefits to avoid "duplication" of Social Security benefits, according to a formula. Many pension plans "offset," or reduce, monthly pension benefits by a ...
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