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
Policy that pays a fixed dollar amount for each day the insured is confined to the hospital. This method of payment is in contrast with most other medical expense insurance that reimburses ...
Insurance company's net gain from operations divided by its adjusted surplus. This is the accounting rate of return on stockholder's equity since the ratio shows the rate of return the ...
clause found in health insurance contracts that requires the insured to pay a specified percentage of the covered health care expenses. ...
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Losses representing claims not paid. ...
Retrospective rating system with basic, minimum, and maximum premium rates listed in manual tables. Calculation of an individual premium involves adjusting the basic premium for appropriate ...
Federal agency that regulates the securities markets. The independent, five-member commission was created under the Securities Exchange Act of 1934 to enforce the securities act of 1933. ...
Mutual insurance association that issues insurance to its members on a nonprofit basis. Examples of such associations include fraternal societies, unions, and employee membership groups. ...
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