Definition of "Arp"
Same as term Associate in Research and Planning: professional designation earned after the successful completion of six national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as business research methods, strategic planning for insurers, principles of risk management and insurance, insurance company operations, economics, and ethics. Program of study is recommended for individuals involved in the areas of corporate planning, research, product development, and forecasting for an insurance company.
Popular Insurance Terms
Partial loss of such significance that the cost of restoring damaged property would exceed its value after restoration. For example, an automobile is so badly damaged by fire that fixing it ...
Time during which an assessment life insurance company has the right to assess policyholders if losses are worse than anticipated in the premium charged. ...
Endorsement to the standard fire policy increasing the insurance protection to an all risks basis. ...
Type of individual retirement account (IRA) allowed by the employee retirement income security act of 1974 (erisa) whereby contributions in the form of premium payments are made on a fixed ...
Independent agent membership group, originally mutual agents but today open to both mutual and stock agents. Association views are presented both nationally and locally on insurance ...
Documentation of physical fitness by an applicant for insurance. Usually this takes the form of a medical examination. Group plans (life, health, disability) require such evidence if the ...
Plan in which funds are withdrawn or income begins before the plan participant reaches age 59/2. An extra 10% early distribution tax on the taxable amount may have to be paid unless any one ...
Specified limit on the dollar amount of coverage for a given loss. ...
Provision in an insurance policy that permits an insured to cancel the policy and recoup the excess of the paid premiums above the customary short rate for the expired time. The clause also ...
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