Marketing
Creation of a demand for a company's products, its distribution, and services for customers who purchase that product. Actuarial research and development, underwriting efficiency, and claim payment promptness is of little value if no one is willing to purchase insurance products. Agency and marketing departments are the focus of all sales activity within an insurance company, and touch every aspect of a company by generating premium income for securities, real estate, and mortgage investments; sales for review by the underwriting department and their issuance by policyholder services; need for data storage and retrieval by the company's data processing center; legal analysis and decisions by the law department; and need for corporate planning.
Popular Insurance Terms
Insurance that follows an insured property. ...
In property insurance, a stipulated agreement between the insurance company and the insured that the amount of insurance coverage under the policy is sufficient to be in compliance with the ...
laws enacted by all of the 50 states whose purpose it is to reduce or eliminate the volunteer's civil liability exposure. An ideal law would exclude the volunteer from civil liability ...
Assets, such as furniture and fixtures, that are not permitted by state law to be included in an insurance company's ANNUAL STATEMENT. ...
Negligent acts and/or omissions by the individual (s) and the organization (s) resulting in damage to the environment. For example, pollution of the environment suits against manufacturers ...
Now-defunct bureau founded by fire insurance underwriters in 1866 to work for fire prevention and loss control. The board helped standardize the fire insurance policy. In the mid-1960s, the ...
Same as term Associate in Automation Management: professional designation earned after the successful completion of three national examinations given by the insurance institute of America ...
Property coverage for a builder of ships until possession passes to the owners. Protects against pre-launch and post-launch perils. Coverage can be purchased on an all risks basis subject ...
Dividend paid in addition to the regular dividend on a participating insurance policy. ...
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