Short Rate Table
Display of percentage of earned premiums as a function of the time in days for term property insurance policies originally written for one year or longer. These tables are used to compute the refund or the excess of the paid premium above the customary short rate for the expired term in the event the insured cancels the policy (makes a short rate cancellation).
Popular Insurance Terms
Quantitative measurement of the total costs (losses, risk control costs, risk financing costs, and administration costs) associated with the risk management function, as compared to a ...
Net cost of insurance with no markup to cover an intermediary's profit or expenses. An intermediary, such as a broker, sells an insurance product net; that is, there is no loading for his ...
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Salaries plus commissions plus overhead expenses plus office rent plus fees charged for memberships in industry associations and bureaus plus guaranty association assessments plus taxes ...
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Model state law of the NAIC that requires the insurance agent who is replacing the policy to: give the policyholder a replacement notice; forward a signed copy of the replacement notice to ...
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