Valued Basis
Indemnification benefit found in a disability income insurance policy that endeavors to replace the insured wage earner's income with a monetary sum equal to the actual lost income terminated because of illness, sickness, or accident.
Popular Insurance Terms
Method of underwriting by which one or a group of Lloyd's underwriters write business on behalf of a number of Lloyd's syndicates and other insurance companies. Among the benefits of ...
Membership organization representing professional actuaries in all insurance fields in Canada including life and health, casualty, consulting and fraternal actuaries. A member must reside ...
Deliberate act or omission, including trespass, assault and battery, invasion of privacy, libel, and slander. An intentional tort is a branch of civil liability. Liability insurance can be ...
Sums payable to the winning plaintiff by the losing defendant in a court of law; can take any or all of these forms: general, punitive, and special. ...
Latin phrase meaning "beyond power or authority" describing an act by a corporation that exceeds its legal powers. For example, corporations do not have the authority to engage in the ...
Federal law requiring that all pension plan trustees and anyone else who handles pension funds must obtain a fidelity bond. This bond covers the plan in the event of embezzlement and theft. ...
Amount borrowed against the cash value of a life insurance policy to pay the premium due. ...
System established for checking claims to determine whether they should be paid immediately or checked further for validity. ...
Investment risk associated with the relationship between the yield (interest, dividends, and capital) of financial instruments and the rate of inflation in the economy. For fixed income ...
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