Provision that covers a business to be protected under a reinsurance treaty. The class either can appear at the beginning of the agreement or may be included in the retention and limits clause at a later stage of the contract.
Same as term Underwriting Gain Loss): profit ( deficit) that remains after paying claims and expenses. Insurers generate profits from underwriting and from investment income. Their chief ...
Historical mortality table that replaced the annuity table, 1949, used for the calculation of annuity rates with more-current mortality experience at that time. This table was subsequently ...
Form of stock ownership that permits the stockholder to select a beneficiary to receive the stock upon the death of the stockholder. The stockholder retains all rights of stock ownership ...
Amount expressed as a liability on the insurance company's balance sheet for benefits owed to policy owners. These reserves must be maintained according to strict actuarial formulas as they ...
Transaction by a tax-exempt organization with a person from inside the organization (disqualified person) that provides an economic benefit to that person that is in excess of the value of ...
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 ...
First of all, you need to understand the different types of life insurance and what each type of life insurance covers. Life insurance is very important and purchasing one is in both yours ...
An HMO provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium. A PPO differs from an HMO in that the PPO has no separate physical ...
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 resulting ...
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: ...
Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the proper insurance protection. Consider the ...
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