Physician Hospital Organization (pho)

Insurance company whose corporate charter and bylaws prevent assessment of its policyowners, regardless of how adverse its loss and expense experience may become. ...

Deductible that applies for the year. For example, a business pays for the first $40,000 of losses incurred during the year and the insurance company pays for all losses above that amount ...

Relationship of the frequency of deaths of individual members of a group to the entire group membership over a particular time period. ...

Technique of estate planning under which an estate is divided into two parts and taxed at a lower rate rather than remaining as a whole and taxed at a higher rate. This division may be ...

Rate not subsequently adjusted. The rate stays in effect regardless of an insured's subsequent loss record. ...

Expenses added to the beginning of a premium payment period. For example, an annuity with a 10% front load would include $10 of expenses for each $100 premium paid. ...

Relationship of incurred losses plus loss adjustment expense to earned premiums. ...

Method of classifying risks to establish equitable rates. In many property and liability insurance lines, the location of an insured has a significant impact on the loss experience. For ...

The term mutually exclusive defines an instance when the occurrence of a specific event makes the emergence of another event impossible. Then, two or more things can be described as ...