Preliminary Term

Title of a published set of rules, adhered to by member companies of major property and liability associations, that stipulate how losses should be adjusted when the same loss is covered by ...

Transaction in which the property owner (for example, a pension fund) agrees to pay the insurance company a rate of return tied to the fluctuations in real estate prices. In return, the ...

Insurance programs that combine finite risk insurance, reinsurance, and traditional insurance as an alternative to self insurance. These programs are long-term in duration. The objective is ...

Coverage for a mortgagee where real or personal property, used as security for a loan, is damaged or destroyed. For example, a bank (mortgagee) lends money to an individual (mortgagor) who ...

Maximum amount of insurance coverage that an underwriter will write on a particular class of property or risk exposure. ...

Trade group of independent claims adjusters who settle claims for insurance companies on a fee basis. Some insurers use their own staff adjusters to settle a claim. Others use an ...

Type of guaranteed investment contract in which funds for the contract are placed in the insurance company's separate account. ...

Minimum amount of coverage for which a company will write a liability insurance policy. ...

Universal life insurance provides death benefits and income taxe-deferred savings to help you meet your financial goals while you are living. It has many flexible features and benefits that ...

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of the vehicle and actual cash value of it ...

Commercial insurance is designed to help protect many of the risks your business can face, including: damage or destruction to your business vehicles, office equipment, and inventory. Loss ...

A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better no worse. ...

First, stay calm. Freaking out won’t help anyone. Whenever there’s an accident everyone gets hyper and tense; being calm will be a blessing to everyone. Plus; it’s your ...

Long-term care refers to a broad range of medical and personal care services designed to assist individuals who have lost their ability to perform activities of daily living without ...

Commercial insurance is designed to help protect many of the risks your business can face, including: damage or destruction to your business vehicles certain liability exposures ...

You\'ve identified some financial goals and begun to look at potential investments. You\'re on the path to investment success! Putting some plans into motion is an essential step, but ...