Storm Insurance (windstorm Insurance)
Definition of "Storm insurance (windstorm insurance)"
Additional coverage to a property policy. Windstorms are not one of the standard covered perils. If an insured desires coverage for windstorms and hail, an endorsement is required.
Popular Insurance Terms
In which at least two insurance policies provide identical coverage for the same risk. ...
Arrangement of discretionary income, expenses, and investments in a way that enhances after-tax wealth. Insurance policies can be used to increase after-tax income through the tax-deferral ...
Present value computation of the accrued or projected benefits of a retirement plan. This computation is known as the actuarial valuation because it is based on probability (retirement ...
Record of losses, whether or not insured. This record is used in predicting future losses and in developing premium rates based on expectation of insured losses. ...
Life is unpredictable so to compensate this, people have invented insurance. Insurance deals with unforeseen events. Sometimes insurance companies cover only a part of your losses and a few ...
Amendment that modifies the federal flood insurance program by providing relocation and acquisition coverage for structures in imminent danger from an encroaching shoreline. This amendment ...
Actuarial equivalent method of calculating the premium rate through the development of the following equation: probability that the event insured against occurs x face amount of policy x ...
Aggregate amount of insurance policies that are paid-up (or are being paid) that a life or health insurance company has on its books. The size of a life or health insurance company is often ...
Act that provides new funding for the Bank Insurance Fund and enhances the safety and soundness of the financial system. The FDICIA includes the Foreign Bank Supervision Enhancement Act ...
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