Surplus Lines
Reinsurance: surplus reinsurance contracts under which the agreement between an insurer and a re insurer is based on the ceding company's line guide, such that the amount re insured is expressed in terms of the multiples of the retention and is referred to as a number of lines. Regular market: insurance coverage not available from an ADMITTED COMPANY in the regular market; thus a surplus lines broker agent representing an applicant seeks coverage in the surplus lines market from a NON ADMITTED INSURER according to the insurance regulations of a particular state.
Popular Insurance Terms
Section describing coverages under a policy. Elsewhere in the policy other sections may restrict or exclude coverages. ...
Company formed and operated without the profit motive as its normal business objective; normally sells and services health insurance policies. ...
Law that established rules and regulations to govern private pension plans, including vesting requirements, funding mechanisms, and general plan design and descriptions. For example, three ...
Same as term Conditional Sales Floater: coverage for the seller of property on an installment or conditional sales contract if it is damaged or destroyed. For example, a television set is ...
Same as term Comprehensive Insurance: complete coverage for hospital and physician charges subject to deductibles and coinsurance. This coverage combines basic medical expense policy and ...
Information generated by the medical information bureau (MIB) and made available to member companies concerning medical information of applicants for life and health insurance. Member ...
Licensed agent's signature on an insurance policy. ...
Trust in which the trustee distributes capital and income to the beneficiaries of the trust according to their economic needs. ...
Rate not subsequently adjusted. The rate stays in effect regardless of an insured's subsequent loss record. ...
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