What Do I Need To Know About Indemnity Insurance?
A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better no worse.
Popular Insurance Questions
Popular Insurance Glossary Terms
Company that has a capital fund established by contributions from its stockholders in addition to its surplus accounts and reserve accounts. ...
State law that stipulates that goodwill as an admitted asset cannot be greater than 10% of adjusted surplus. ...
In insurance, individual with rightful possession of an insurance policy, usually the policyowner. ...
Actual mortality experience of an insured group as compared to the expected mortality for that group. ...
Charge against a business firm in a product liability insurance lawsuit. Manufacturers have been held responsible for their products. When consumers become injured while operating a ...
Landmark legislation passed by Congress providing the first regulation of the securities markets. The law, enforced by the securities and exchange commission (sec), requires registration of ...
Company owned by its policy owners; no stock is available for purchase on the stock exchanges. ...
Method of terminating a split dollar life insurance policy in which the company transfers its interest in the life insurance policy to the insured employee. Through such a transfer, the ...
Cancellation of a policy by an insurance company. ...
Have a question or comment?
We're here to help.