Tort, Unintentional
Individual action or failure to act as a reasonably prudent person would under similar circumstances, resulting in harm to another. Also called negligence. A reasonably prudent person is defined by the standards of the profession that are followed, and the level of expertise expected of a person with like training. An example is a CPA who fails to complete tax returns on behalf of a client according to generally accepted accounting principles.
Popular Insurance Terms
Model state law of the NAIC that stipulates that the contract owner must receive annual reports concerning the annuity unit values, the manner in which the variable benefits are calculated, ...
Proportion of a premium allocated to pay losses, which is equivalent to (1.00 - expense ratio). ...
Individual (s) entitled to receive the income generated by the trust. ...
Plan that provides protection in the event of legal actions resulting from charges of harassment, discrimination, wrongful termination of employment, defamation, and invasion of privacy. ...
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Right of survivors to the interest in property of a deceased joint tenant as the result of property held in joint tenancy. ...
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basic feature of the social security act under which benefits paid are associated with the employee's earnings that have been taxed during the employment period. ...

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