Premium Deficiency Reserve

Device that allows plan participants in employee stock ownership plan (ESOP) trust to reinvest the dividends into their section 401 (k) plan. Under the switchback approach, plan ...

Exposure created by an individual acting as a host serving alcoholic beverages at no charge to persons already intoxicated, resulting in these intoxicated individuals causing property ...

Professional designation earned after the successful completion of six national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as business ...

Special type of charitable remainder trust (CRT) under which a designated beneficiary (cannot be a charitable beneficiary) receives an annual fixed income. The grantor of the trust is ...

Individual responsible for insurance agency operation in a particular area, including sale of life and health insurance, servicing policies already sold, recruiting and training agents, and ...

Phrase used to describe a method of annuity payout that guarantees a specified number of years, regardless of whether an annuitant remains alive. ...

Evidence of a temporary contract obliging a life or health insurance company to provide coverage as long as a premium accompanies an acceptable application. This gives the company time to ...

Same as term Contractors Equipment Floater: form of marine insurance that covers mobile equipment of a contractor, including road building machinery, steam shovels, hoists, and derricks ...

Standard set under the occupational safety and health act that sets allowable levels of worker exposure to such toxic substances as asbestos, certain chemicals, and radiation. In many cases ...