Statutory Surplus
Excess funds above the amount required to establish legal reserves for the policies in force. These excess funds are generated as the result of mortality savings, excess interest earned on investments (an amount above that expected), and expense savings.
Popular Insurance Terms
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Risk distribution included by type of coverage, by kind of risk, and by geographical location. ...
Maximum limit of liability of an insurance company for a particular claim or kind of loss that is applicable in general to all such claims or losses. This maximum limit of liability is ...
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Coverage for exposures that exhibit a possibility of financial loss. ...
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