Retaliation Laws
Legislation by a state that taxes out-of-state insurance companies operating in its jurisdiction in the same way that the state's own insurance companies are taxed in the second state. For example, state #1 charges a tax of 4% on its domiciled insurers. But if these insured are charged a higher tax when operating in state #2, then state #1 will charge the higher tax to insurers of state #2 who wish to do business in state #1.
Popular Insurance Terms
Management tool through which a plan for evaluation, measurement, and improvement is implemented. The insurance entity can use this tool to analyze market trends, measure sales performance, ...
Insurance or annuity contract used in pension plans to purchase increments of retirement benefits through contributions for each employee paid into a fund. Benefits are guaranteed to ...
In automobile insurance, coverage providing protection in the event of physical damage to the insured's own automobile (other than that covered under comprehensive insurance) resulting from ...
Policy in which an insurer agrees to pay property or liability losses in excess of a specific amount per occurrence. For example, this type of coverage typically is used by an employer that ...
Life insurance policy death benefit or cash value paid out in a series of installments, rather than in a lump sum. ...
Method of accessing capital by the insurance industry in order to hedge against a future catastrophic occurrence. The mechanism works as follows: Primary insurance company AJAX pays a ...
Percentage of confidence in a finding. For example, if an insurance company's total loss reserves should be $10,000,000 in order to attain an 80% confidence level that enough money will be ...
Rating method for commercial fire insurance according to a predetermined schedule. Published by A. F. Dean in 1902, this method was the first comprehensive qualitative analysis procedure to ...
Coverage usually provided as part of the storekeepers burglary and robbery insurance in the event merchandise, fixtures, equipment, and furniture are lost due to theft and burglary. ...
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