Type of property distribution occurring when a person dies intestate. The estate id divided by the children of the deceased and by their children. For example, if a husband dies intestate, having survived his wife, and there were four children resulting from the union, one of whom predeceased his fa...

Same as term Casualty Actuarial Society: accrediting body for the ACAS (Associate of the Casualty Actuarial Society) designation and the FCAS (Fellow of the Casualty Actuarial Society) designation. To earn these designations, members take a series of examinations on actuarial mathematics and related...

Hospital, physician, or other provider of health care that an insurer recommends to insureds. A PPO allows insurance companies to negotiate directly with hospitals and physicians for health services at a lower price than would be normally charged. A PPO tries to combine the best elements of a fee-fo...

Investments restricted to short-term Treasury bills (T-bills) and repurchase agreements secured by Treasury bills. These T-bills are secured by the full faith and credit of the Unites States Treasury and thus are considered to be the most risk free of any financial instrument. T-bills are said to be...