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
Insurance policy that combines the elements of a deferred annuity with the elements of DECREASING TERM LIFE INSURANCE. This policy was originally designed to act as a funding instrument for ...
Portion of reinsurance premium received by the reinsurer that relates to the unexpired part of the reinsured policy. ...
Coverage for bodily injury and property damage liability resulting from the ownership, use, and/or maintenance of an insured business's premises as well as operations by the business ...
Worst case scenario under which an estimate is made of the maximum dollar amount that can be lost if a catastrophe occurs such as a hurricane or firestorm. ...
Money set aside to pay for losses. Rather than buy insurance coverage for all potential losses, some businesses and individuals choose this form of self insurance to cover all or a portion ...
actual fire losses divided by the total value of the property exposed to the peril of fire; actual losses resulting from fire divided by the total fire amount of in-force business. ...
Deductible eliminated through the payment of an additional premium, resulting in first-dollar coverage under the policy. ...
Provision of a property insurance policy which covers conditions usually present in a particular location. For example, there is an inherent risk of explosion in a flour mill. ...
Arrangement, often funded by life insurance, to continue an employee's salary in the form of payments to a beneficiary for a certain period after the employee's death. The employer itself ...
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