Nonadmitted Insurer

Value of benefit or contribution allocated to an employee under a pension plan; method of determining benefits due a retired employee. Each private pension plan establishes rules for ...

Smallest face amount of life insurance that an insurance company will write on any one person. ...

Health insurance contract sold to an individual to provide coverage for medical expenses. Contrast with group health insurance. ...

Evidence of a temporary contract obliging a life or health insurance company to provide coverage as long as a premium accompanies an acceptable application. This gives the company time to ...

Contractual obligation that requires one party to the contract to fulfill its obligation before another party to the contract is required to fulfill its contractual obligation. For example, ...

Group of mutual insurers that provides insurance for nuclear reactors that standard property and liability policies exclude. The federal government provides supplementary coverage. ...

Government health care program in several European countries that has been proposed in various forms for the U.S., to be administered by the federal government. Plan A would cover all U.S. ...

Wrongful conduct causing false arrest, invasion of privacy, libel, slander, defamation of character, and bodily injury. The injury is against the person in contrast to property damage or ...

Action in which an insurance company develops an insurance product and sells that product to a third party (usually financial advisers such as accountants, lawyers, and/or bankers) who add ...