Pure Premium Rating Method

Effective January 4, 1994, the backup withholding rate on dividends, interest, and gross proceeds distributions increased from 20% to 31%. Backup withholding applies in the following ...

Fringe benefit provided by the employer to its employees as sanctioned under the 1981 Economic Recovery Tax Act. Under Internal Revenue Code Section 129, this benefit is nontaxable to the ...

Pricing of the insurance product below the necessary premium rate to reflect the costs of expected losses. The thesis of this pricing strategy is to obtain large sums of money to invest and ...

Law by which many states attempt to regulate insurers who are unlicensed in those states. With a few notable exceptions, such as re insurers, insurance companies must be licensed in the ...

Cancellation of a contract. Under the federal Truth in Lending Act, a person who signs a contract can nullify it within three business days of having signed it without penalty; funds paid ...

Expense of soliciting and placing new insurance business on a company's books. It includes agent's commissions, underwriting expenses, medical and credit report fees, and marketing support ...

Coverage on an all risks basis for physical damage loss. Coverage applies to property damage to the insured boat or damage caused by the insured boat to a third party boat. Excluded perils ...

Crime against the state for which an officer of the state can bring legal action. Society is harmed by an individual breaking the laws of the state. Usually there is no statue of ...

Whole life insurance insurance provides the coverage amount to your beneficiary in the of your death, as well as cash value savings you can use during your lifetime. ...

Line of insurance, which included coverages that are designed to protect the insured against a loss of income resulting from or sickness. ...

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 ...

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 ...

There comes a time when every zealous homeowner asks himself – usually at a very inconvenient hour, like 3 am: Do I need Flood Insurance? The answer is: probably. Here’s why: ...

Depending upon the coverage being applied. Review the policy provision with your agent for additional information. ...

You might think, \"Why do I need insurance, I\'m renting?\" Well, even though your landlord probably has an insurance policy on your building, you\'ll need to protect your personal ...

A life insurance policy can help enable your family to remain financially if you or your spouse should die. Insurance company understands that life is constantly changing, so we have ...