Scheduled Policy
Definition of "Scheduled policy"
Policy permitting an insured to choose desired coverages. These policies are important for items with relatively low limits of coverage under standard property insurance forms. For example, an insured would have to specifically schedule expensive jewelry, furs, and paintings in order to receive full value for a loss.
Popular Insurance Terms
Measurement of the amount of capital (assets minus liabilities) an insurance company has as a basis of support for the degree of risk associated with its company operations and investments. ...
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Model act written and published by the national association of insurance commissioners (naic) whose purpose it is to regulate brokers who control insurance companies. The act permits the ...
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Important quantitative measure for an insurance company indicating the percentage of each premium dollar that is going to pay for losses. Based on losses incurred, appropriate reserves are ...
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Retirement plan in which money is currently allocated to fund an employees' pension. ...
Benefits payable under any insurance policy or annuity contract. ...
Percentage of a life insurance company's policies in force at the beginning of the year that are no longer in force at the end of the year. This ratio is critical because it indicates the ...
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