National Association Of Securities Dealers (NASD)
Definition of "National association of securities dealers (NASD)"
Organization of brokers and securities dealers in the over-the-counter market operating under the auspices of the Securities and Exchange Commission (SEC). Its purpose is to enforce, on a self-regulating basis, the rules of the SEC, which are designed to protect investors against fraud and market manipulation of stocks. The NASD also publishes quotations of both national and regional stocks. Insurance agents selling variable life insurance, variable annuities and mutual funds are required to be licensed by the NASD.
Popular Insurance Terms
Undiscounted loss reserves that must be maintained by property and casualty insurance companies in an adequate amount to provide for the payment of the settlement value of the outstanding ...
Same as term Captive Agent: representative of a single insurer or fleet of insurers who is obliged to submit business only to that company, or at the very minimum, give that company first ...
System whereby benefits in an employee benefit insurance plan vary according to the employee's earnings. ...
Person insured under a blue CROSS hospitalization or blue shield medical health insurance plan. ...
Mandatory age of retirement. ...
Endorsement to a property insurance policy providing all risks coverage for insured property. Excluded properties include residences, farms, and manufacturing properties. This endorsement ...
Statement by an auditor or certified public accountant indicating if a company's financial statements fairly present its true financial condition. A statement of opinion may be unqualified, ...
Three types of damages can be awarded to a plaintiff: Special Damages reimbursement for out-of-pocket expenses, including medical bills, legal charges, cost of repairing damaged or ...
Insurance company that puts together a consortium of insurance and reinsurance companies to provide an adequate financial base with sufficient underwriting capacity to insure large risks. ...
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