Memorandum Clause
Provision in ocean marine cargo policies to limit an insurance company's liability for partial losses; the company has liability only for losses that exceed a stipulated percentage of the value of the cargo.
Popular Insurance Terms
Same as term Unallocated Funding Instrument: pension funding agreement under which funds paid into a retirement plan are not currently allocated to purchase retirement benefits. The funds ...
12-month period from the date of issue of a policy as stated in its declarations section. ...
Title of a published set of rules, adhered to by member companies of major property and liability associations, that stipulate how losses should be adjusted when the same loss is covered by ...
Ruling issued in 1988 by the Internal Revenue Service that stipulates that, when computing the pension benefits of an employee still working after 1987, the years of service on the job ...
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Trust that is established by people still alive. ...
Life insurance in which the debit system is used to collect premiums on a monthly basis. ...
Transaction in which the ceding company pays a premium and is guaranteed certain future payments to fund future losses. If losses are less than was expected, the ceding company receives a ...
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