National Board Of Fire Underwriters

Definition of "National board of fire underwriters"

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 National Board of Fire Underwriters merged into the American Insurance Association. In 1971, 30 national and regional rating bureaus merged to form the insurance services office (ISO)

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Popular Insurance Terms

Insurance coverages for businesses, commercial institutions, and professional organizations, as contrasted with personal insurance. ...

Money expended with the object of profit. The goal of an insurance company is to invest in assets with a rate of return greater than that to be paid out as benefits under its policies. ...

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