Yearly Renewable Term Plan Of Reinsurance
Type of proportional reinsurance under which the ceding company (primary insurer) cedes to a re-insurer its net amount at risk for the amount above its retention limit on a life insurance policy. In the event the insured dies, the re-insurer is obligated to pay that part of the death benefit which is equivalent to the net amount at risk.
Popular Insurance Terms
Background information used in life and health insurance underwriting to ascertain the probability of hereditary disease. The purpose is to determine if the disease is of such a nature that ...
1890 law prohibiting monopolies and restraint of trade in interstate commerce. The Sherman Act was strengthened in 1914 with amendments known as the Clayton Act that added further ...
Coverage for direct or indirect property loss that can be analyzed under the following headings: Peril a particular peril may be included or excluded. For example, the Standard Fire Policy ...
Plan under which an employee authorizes his or her employer to deduct from each paycheck premiums due on an insurance plan. ...
Insurance company's total premium income plus investment income. ...
Protection for the assets of a business (including merchandise for sale, real property, money and securities) in the event of robbery, burglary, larceny, forgery, and embezzlement. Coverage ...
Provision of liability insurance that excludes coverage for dishonest acts of an insured. ...
Arrangement under which the insured pays a fixed premium to the insurance company in exchange for the total transfer of the risk to that company. ...
Extension of coverage available under the Standard Fire Policy. The standard policy only covers the perils of fire and lightning. The endorsement covers riot, riot attending a strike, civil ...
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