Relationship between individuals or entities whereby rights given to one are returned in kind to the other. An example is where one person has the right to use facilities of another with the understanding that the reverse privileges are granted....

Policy under which a portion of the death benefit (generally 25%) becomes payable to the insured for a specified medical condition prior to death. The purpose of the accelerated death benefit is to provide funds necessary to finance medical costs to extend the life of the insured. Upon proof of a sp...

Ruling that, under current tax law, an insurance company that has incurred a net income loss in a given year may charge that loss against its taxable income in a subsequent year. This accounting adjustment may be made provided that the insurance company first offsets its net income loss in a given p...

Agreement by the insured that, simply because the insurer investigates and determines a value for the claim, the insurer does not admit liability for the claim....