Morale Hazard

Same as term Cargo Insurance: shipper's policies covering one cargo exposure or all cargo exposures by sea on all risks basis. Exclusions include war, nuclear disaster, wear and tear, ...

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. ...

Agreement under which an annuitant receives a predetermined monthly income benefit for life upon the death of the insured. Should the annuitant predecease the insured, the contract is ...

Voluntary market conduct compliance organization whose purpose is to protect the public interest and to enhance the insurance buyer's perception of the life insurance instrument. The member ...

Rating method for commercial fire insurance according to a predetermined schedule. Published by A. F. Dean in 1902, this method was the first comprehensive qualitative analysis procedure to ...

Federal tax imposed on the estate of a decedent according to the value of that estate. The first step in the computation of the federal estate tax owed is to determine the value of the ...

Formal process of setting aside funds on a mathematical basis to provide deferred income benefits. ...

Time, in health insurance, from the first day of a disability, illness, or accident during which no benefits are payable. The longer the probationary period, the lower the premium. ...

Voluntary state insurance programs that aid small businesses in acquiring insurance coverages when there are impediments to obtaining the coverage. ...