Securities Act Of 1933
Definition of "Securities act of 1933"
Landmark legislation passed by Congress providing the first regulation of the securities markets. The law, enforced by the securities and exchange commission (sec), requires registration of securities issues and disclosure of material information about the financial condition of the issuers. Variable annuity and variable life insurance policies have been determined to be securities under the terms of this law and thus are subject to regulation both by the SEC and by state insurance departments.
Popular Insurance Terms
Fund in a segregated account to provide for the return of unearned premiums on policies that are canceled. ...
Evidence of a temporary contract obliging a life or health insurance company to provide coverage as long as a premium accompanies an acceptable application. This gives the company time to ...
Means of setting life insurance reserves based on expected mortality rates as reflected in a mortality table. ...
Systems composed of personal computers linked by a file server. These computers share software as well as databases that enable the risk manager access to information in a quick and ...
Case where an insurance company is placed by the state court under the control of the state insurance department. Claims are paid in the order filed until the insurance company's ability to ...
Transportation firm that must carry any customer's goods if the customer is willing to pay. Common carriers include trucking companies, bus lines, and airlines. ...
Same as term Corridor Deductible: type of major medical deductible amount that acts as a corridor between benefits under a basic health insurance plan and benefits under a major medical ...
Financial holdings that can be converted into cash in a timely manner without the loss of principal, such as U.S. Treasury Bills. Liquidity of assets is one of the most important principles ...
Money paid through state and federal programs to workers who are temporarily unemployed. The program, which was created by the social security act of 1935, is managed by the individual ...
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