Portfolio Runoff
Definition of "Portfolio runoff"
Process of the continual reinsurance of a ceding company's portfolio of insurance policies. All premiums that have been ceded become earned premiums.
Popular Insurance Terms
Clause in a disability income insurance policy that will adjust the amount of the monthly income payment upwards according to a stipulated annual percentage for a given number of ...
Monetary sum paid or payable to a recipient for which the insurance company has received the premiums. ...
Individual who works in the home office of an insurance company and performs the function of underwriting to determine if an applicant is insurable at standard rates, substandard rates, ...
Consideration should be given to a company's capacity to underwrite a particular risk, as indicated by its financial standing, claims philosophy, price structure, agent representation, loss ...
Business involved in buying and selling securities and mutual funds. ...
Circumstance where an insurance company takes the place of an insured in bringing a liability suit against a third party who caused injury to the insured. For example, if a third party, ...
Sum total of the assets owned by an individual. ...
Recommendation of medications that should be prescribed for certain ailments. They can be classified as follows: open or voluntary recommends a list of drugs to physicians that is supposed ...
Accounting procedures that defer the full funding of a life insurance net level premium reserve to accommodate the policy acquisition cost in the early years of a policy. First-year policy ...
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