Q Schedule
Definition of "Q schedule"
SCHEDULE provision of the new York insurance code and regulations under which the life insurance company must file with the Insurance Commissioner all expenses associated with selling new life insurance policies; and a limit is set on expenses to acquire new business. The expense limitation serves to restrict agent commissions in New York State. This is one important reason why many national insurance companies do not sell life insurance in New York, or why some organize subsidiary companies for the sole purpose of conducting life insurance business only in New York. Many life insurance companies feel the expense limitation too restrictive to attract brokerage business.
Popular Insurance Terms
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Action by insurance companies and agents to voluntarily refrain from business conduct that is misleading, fraudulent, and in general would have adverse consequences for the purchaser of the ...
Insurance company that specializes in underwriting casualty insurance. ...
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In a liability insurance policy, limit above the minimum amount of coverage for which the policy can be written according to company or legal restrictions. ...
Type of organization of property and casualty insurance companies whose objective is to share information on fraudulent claims, handle claims in an expeditious manner, and disseminate ...
in life insurance, receipt by a company of an insurance application accompanied by the first premium. in property and casualty insurance, a company's receipt of an application. ...
Measure of the sensitivity of the insurance company's liability for resultant higher mortality rates than charged for in the premium. ...
Coverage for the insured's personal and real property and the insured's own person. Contrast with third party. ...
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