Standard Fire Policy Analysis
Definition of "Standard fire policy analysis"
Method of rating that compares property to be insured to a standard and adjusts the rate for deviations from the standard. A standard building is situated in a standard city of specific construction with specified fire protection. Other risks are compared to the standard and given credits or debits if they are a better or worse risk.
Popular Insurance Terms
Organization that develops and publishes educational material and administers national examinations in supervisory management, general insurance, claims, management, risk management, ...
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Range of administrative and risk management services that can be purchased by an insured. Increasingly, insurance can be purchased unbundled so that policy-holders may pay for straight ...
Individual permitted to enter property with the permission of the owner or the person who controls the property. There is no mutual profit motive; the licensee comes onto the property for ...
Element usually found in industrial life insurance policies under which the insurance company upon the death of the insured under certain conditions is allowed to choose the beneficiary if ...
(also known as merit rating) method of setting property insurance rates by modifying or adjusting the manual rate for various classifications of risks. Modifications may be based on past or ...
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Fee paid to an insurance salesperson as a percentage of the premium generated by a sold insurance policy. ...
Average earned monthly income of the insured wage earner after regular earned income has been interrupted or terminated because of illness, sickness, or accident. This income amount is ...
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