Mutualization Of Risk
Process of distributing the costs associated with losses and risks over a number of insureds.
Popular Insurance Terms
Account established to manage the assets of a minor. This account is under the auspices of a custodian (either an individual or an institution). The gift tax exclusion would apply on any ...
Circumstance under which the insured maintains that, if an insurance policy covers at least two scheduled items of real or personal property, in the event of a loss applicable coverage ...
In insurance, individual with rightful possession of an insurance policy, usually the policyowner. ...
Association of independent agents whose objective is to further the interests of these agents through education, lobbying, and professional ethics. ...
Technique designed to permit the exchange of a life insurance policy that has an outstanding loan charged against it for another life insurance policy on a tax-free basis. The procedure is ...
Standard set under the occupational safety and health act that sets allowable levels of worker exposure to such toxic substances as asbestos, certain chemicals, and radiation. In many cases ...
Single policy on the insured's property for: two or more different kinds of property in the same location; same kind of property in two or more locations; two or more different kinds of ...
Coverage to indemnify an owner for whom work was done if the completed work is not free of worker's liens for labor and material. ...
Legal decision wherein proceeds of a life insurance policy on which the decedent's corporation paid the premiums within three years of his or her death are not includable in the decedent's ...
Have a question or comment?
We're here to help.