Sources Of Income
In insurance, company revenues from underwriting and investment. Insurance companies make money first, by underwriting good risks so that their premium dollars cover claims losses and expenses (the money left over being called underwriting income), and second, by investing premium dollars until claims have to be paid (called investment income), sometimes many years later. In the late 1970s, for example, casualty insurers lost money on underwriting but made up for the loss with a gain in investment income.
Popular Insurance Terms
Additional coverage available on most property insurance policies through the extended coverage endorsement. Windstorms, including hurricanes, cyclones, and high winds, are not among the ...
Ceiling on expense reimbursement allowance, as stated in New York insurance law, that an insurance company licensed in New York State can give its agents. This is one reason why a company ...
In workers compensation insurance policies and several business property and liability policies, review of the payroll of a business firm in order to determine the premium for coverage. ...
Group coverage for members of a fraternal association, usually on a nonprofit basis. ...
Prior to 1988, right to withdraw retirement assets before age 59 1/2 without having to pay a 10% penalty under the following circumstances: medical expenses are incurred. the plan ...
Acts or omissions that result in suits against an individual and/or residents of the individual's household for actual or imagined bodily injury and/or property damage to a third party. ...
Cash carried forward from the previous year, plus gains from operations for the current year, plus any capital gains. ...
Insurance policy under which premiums are past due but the grace period has not expired. ...
Cost of the assets listed on the accounting records of the company. These assets include the following: real estate (to include any adjustments for depreciation), transportation equipment ...
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