Unisex Legislation
Definition of "Unisex legislation"
Regulations affecting the right of insurance companies to use sex as one of the factors in the actuarial determination of premium rates. The precedent case for such legislation is Arizona Governing Committee v. Norris in which the decision was that a municipal retirement plan could not provide retirement benefits based on sex.
Popular Insurance Terms
Assistance program for the financially needy. Medicaid, also referred to as Title XIX of the Social Security Act, was enacted in 1965 at the same time as medicare. It is a joint ...
Buy-sell agreements found in partnerships, sole proprietorships, and close corporations. Either the business entity or the surviving members of the business agree to buy out the interest of ...
Coverage of a single life, in contrast to group life insurance, which covers many lives. ...
Individual or organization that is a potential purchaser of an insurance product. ...
Same as term Expected Loss: probability of loss upon which a basic premium rate is calculated. ...
Portion of a premium paid by an insured that has been allocated to the insurance company's loss experience, expenses, and profit year to date. ...
Coverage for all kinds of personal property whether inside or outside an insured's (home) to include jewelry, musical instruments, cameras, fine arts, and precious stones. The insurance ...
Representation of ownership rights such as stocks. ...
Rate applied when two or more separate buildings are insured under one policy, and/or when two or more separate contents are insured under one policy. ...
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