Rain Insurance
Business interruption insurance in which the insured is indemnified for loss of earnings and payment of expenses resulting from adverse weather conditions. For example, the raining out of a fair, horse race, or boxing match can cause a substantial loss of money for a promoter who may have spent huge sums in advance of the event for rental, advertising, and site conditioning. However, the policy does not cover damage to property because of rain.
Popular Insurance Terms
Income averaged over a specified period of years. For example, to calculate benefits in a pension plan, it is common to average the highest three years or five years of earnings. ...
Portion of the federal tax code outlining the procedure by which a corporation cancels or redeems its shares with funds paid out of earnings or profits, thus making the distribution a ...
Document used to sign up employees for plans such as salary savings, life insurance, or other employee benefits. ...
In insurance, independent advisor who specializes in pension and profit sharing plans. Usually a licensed insurance agent. ...
Insurance policies covering various business risks. ...
LIFE INSURANCE: specification by each state regarding the minimum assumptions that must be used in reserve calculations as theypertain to the maximum interest rate that can be assumed; ...
Variation of group life insurance that covers a small group of persons who work for the same employer. With group life insurance, the employer owns the policy; with wholesale insurance, ...
A contract sold by insurance companies that is bought by means of a single lump sum payment usually providing a monthly income payment for the annuitant's life. The amount of the monthly ...
Central (main) office of an insurance company whose facilities usually include actuarial, claims, investment, legal, underwriting, agency, and marketing departments. ...
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