Insurer

Definition of "Insurer"

An insurance company or underwriter. An insurance policy is a legal instrument assuming the risk of loss for stated perils to real property in exchange for insurance premiums paid.

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Open Competition Law

Form of state rating legislation that allows each property/liability insurer to choose between using rates set by a bureau or its own rates. Individua ...

Coinsurer

Party that shares in the loss under an insurance policy or policies. ...

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 it ...

Time Limit

part of the Model Uniform Life and Health Insurance Policy Provisions Law giving an insurer a time limit on contesting coverage for preexisting condi ...

National Flood Insurers Association

Pool of private insurers that provide initial flood insurance in cooperation with the U.S. Department of Housing and Urban Development (HUD). In 1978, ...

Unearned Premium Reserve

Fund that contains the portion of the premium that has been paid in advance for insurance that has not yet been provided. For example, if a business p ...

Popular Real Estate FAQ

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