Past Due Accounts
Funds receivable or payable that have not been paid in a timely manner, commercial credit insurance protects an insured against declines in the value of receivables due to insolvency of a debtor. The insured may turn over to the insurer accounts that are up to 12 months past due or, by special endorsement, those that are 6 months overdue. For insurance purposes, these past due accounts will be treated as if they were accounts due from an insolvent company.
Popular Insurance Terms
Calculations involving the mortality rate of a company's insureds and the rate of return on the company's investments. It is used in calculating the prospective reserve. ...
Combination of coverages from property and liability policies. ...
Accident policy that covers a traveler for a single trip on an airplane or other common carrier. The name comes from its origin as part of the ticket or ticket stub, but these policies are ...
Break in commercial activities due to the occurrence of a peril. Coverage against business interruption by various named perils can be obtained through insurance. ...
Limitation under a contributory pension plan of an employee's right to receive vested benefits. The employee can withdraw contributions to the pension plan only according to stated ...
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Accrediting body for the ACAS (Associate of the Casualty Actuarial Society) designation and the FCAS (Fellow of the Casualty Actuarial Society) designation. To earn these designations, ...
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