Stock Transfer
Re-registration of existing shares when there is any change in the name of the owner (s). Such a circumstance may occur when the owner (s) of the shares gives these shares to another person, establishes a trust, marries and changes the name, or adds or removes a name as owner. The transfer is executed through a letter of instruction with the signature of all owners guaranteed by a bank or a broker and sent to the transfer agent.
Popular Insurance Terms
Provision in property insurance that waives, under specified circumstances, the requirement for an inventory of undamaged property when a damage claim is filed. A coinsurance clause in a ...
Same as term Captive Insurance Companies Association (CICA): trade association located in New York City, consisting of approximately 200 captive insurance companies. The objective of the ...
Latin expression meaning "let the buyer beware." The purchaser buys a product or service at his or her own risk. This principle has been modified significantly as it relates to an insurance ...
Insured sum paid regularly to a married partner (usually a wife but sometimes a husband) of a retired worker. There are several forms: The Federal Retirement Equity Act mandates a spouse's ...
Liability policy that covers all liability exposures for a large group that has something in common. For example, wrap-up insurance can be written for all the various businesses working ...
Right of an insured to make additional purchases of life insurance without having to take a physical examination or show other evidence of insurability. Additions can be bought at stated ...
Method used to determine the policyholder's return on premiums paid into a life insurance policy. This method is illustrated in two ways:.Surrender of Policy Approach calculation of the ...
Termination of a policy. Contract may be terminated by an insured or insurer as stated in the policy. If the insurance company cancels a policy, any unearned premiums must be returned. If ...
Stipulation that no claim will be paid until a loss exceeds a flat dollar amount or a given percentage of the amount of insurance in force. After the loss exceeds this dollar amount or ...
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