Tax-appraised Value
Definition of "Tax-appraised value"
Estimate of an asset that is used to determine tax obligations. It is usually in the interest of the owner to have a low value put on a piece of property for tax purposes. However, the owner sometimes wants the same property to carry a higher appraisal value for insurance purposes so that losses can be easily recovered if the property is lost or damaged.
Popular Insurance Terms
Same as term CEDE: to transfer a risk from an insurance company to a reinsurance company. ...
Single contract coverage on a group basis issued to an employer. Group members receive certificates as evidence of membership summarizing benefits provided. ...
Actuarial evaluation of the assets of a pension plan according to the fair market value of the assets. ...
Amount of insurance remaining on a ceding company's books, net of the amount reinsured. ...
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Total premiums received by a property and liability insurance company without any adjustments for the ceding of any portion of these premiums to the reinsurer. ...
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