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Insured losses that have occurred but have not been reported to a primary insurance company. These types of claims have a tremendous effect on a reinsurance treaty, which may be showing a ...

Combination of several insurance companies to provide the capacity to underwrite a particular type or size of exposure. For example, liability coverage for a drug company's vaccine has been ...

Person who commits a tort, a type of wrongful act, that causes injury or damage. ...

Determination of (1) a future property or liability insurance or reinsurance rate or (2) a premium for a specified future period of time. It is based on the loss experience of a specified ...

Part of the business risk exclusion in general liability insurance that denies coverage for subsequent claims if a defective product is not recalled by an insured. For example, if a ...

Net cost of insurance with no markup to cover an intermediary's profit or expenses. An intermediary, such as a broker, sells an insurance product net; that is, there is no loading for his ...

Same as term Friendly Fire: kindling intentionally set in a fireplace, stove, furnace, or other containment that has not spread beyond it. Property insurance does not protect against damage ...

Portion of the federal tax code outlining the procedure by which a corporation cancels or redeems its shares with funds paid out of earnings or profits, thus making the distribution a ...

A life insurance policy can help enable your family to remain financially if you or your spouse should die. Insurance company understands that life is constantly changing, so we have ...

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily injury to a passenger on your motorcycle ...

Liability Coverage: In case you're sued as a result of an auto accident. Collision Coverage: Helps cover physical damage to your vehicle due to collision or upset. Comprehensive ...

Owning a condominium puts you in a unique position. Unique because you have both common and individual insurance needs. Odds are, your condominium association has an insurance policy for ...

Commercial insurance is designed to help protect many of the risks your business can face, including: damage or destruction to your business vehicles certain liability exposures ...

Commercial insurance is designed to help protect many of the risks your business can face, including: - Damage or destruction to your business vehicles. - Certain liability ...

Universal life insurance provides death benefits and income taxe-deferred savings to help you meet your financial goals while you are living. It has many flexible features and benefits that ...

There comes a time when every zealous homeowner asks himself – usually at a very inconvenient hour, like 3 am: Do I need Flood Insurance? The answer is: probably. Here’s why: ...