North American Free Trade Agreement (NAFTA) Of 1993
Definition of "North american free trade agreement (NAFTA) of 1993"
Agreement that eliminates tariffs among the United States, Canada, and Mexico over a 15-year period. Approximately 65% of United States agricultural and industrial exports would be eligible for duty-free entry into Mexico and Canada, either on an immediate basis or within five years. This could very well expand insurance operations both south and north of the border.
Popular Insurance Terms
Coverage for a bank in the event of loss due to dishonest acts of its employees or individuals external to the bank. For example, if a teller goes to Mexico with the bank's money, the bank ...
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, ...
Company formed to insure the risks of its parent corporation. Reasons for forming a captive insurance company include: Instances when insurance cannot be purchased from commercial insurance ...
Injuries that afflict the tendons, bones, muscles, and nerves of the back, hands, arm, shoulders, and neck. These are the fastest growing areas of workers compensation claims. The symptoms ...
Form of coverage in which an insurer automatically reinsures individual risks with its reinsurer. The insurer must transfer (cede) the risks to its reinsurer and its reinsurer must accept ...
Coverage for goods in transit and the vehicles of transportation on waterways, land, and air. ...
Exemption in ocean marine policy for losses caused by strikes, riots, and civil commotion. ...
Person who uses personal property such as an automobile with permission of an owner. For example, for insurance purposes, someone who uses an automobile with the owner's permission would be ...
Classification of insured life and health risks based on the sex of the proposed insured. Gender has long been one of many factors in classifying, accepting, and rating risks. For example, ...
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