Risk Management

Ruling that is the most significant source for the valuation of closely held corporation capital stock critical to the close corporation plan. This ruling defines the fair market value as ...

Same as term Assignment Clause: feature in a life insurance policy allowing a policyowner to freely assign (give, sell) a policy to another or institution. For example, in order to secure a ...

Agreement between two or more individuals to commit fraud. For example, an insured hires someone to burn down this house in order to collect the insurance proceeds. ...

Same as term Captive Agent: representative of a single insurer or fleet of insurers who is obliged to submit business only to that company, or at the very minimum, give that company first ...

Part of a business liability policy that covers an insured for bodily injury or property damage liability to members of the public while they are on his premises. This coverage is available ...

Endorsement to a property liability policy whereby an insurer gives up the right to take action against a third party for a loss suffered by an insured. Typically, under terms of the ...

Provision in almost all excess of loss reinsurance contracts under which payment is made by a re insurer of each and every loss incurred by the cedent in excess of a specified sum, up to a ...

Insurance company that puts together a consortium of insurance and reinsurance companies to provide an adequate financial base with sufficient underwriting capacity to insure large risks. ...

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: ...

A CD, or Certificate of Deposit, is an investment usually made for a given period of time at a fixed rate of interest. CDs are offered by financial institutions such as banks, and are often ...

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

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 ...

Every person has a different idea of what financial security means. If so, should happen to you, how much money would you family need? You should consider: - Your current debt. ...

A group plan in one that is sponsored by an employer, association or other organization, as opposed to an individual or family. With the employee given the option to include other family ...

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 ...

Provides financial protection for a limited, specified period of time, at a lower cost than permanent life insurance. ...