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Quality of being useful. Risk diminishes maximum utility in society because resources gravitate to activities, businesses, and investments that are least risky. By absorbing or protecting ...

In property insurance policies, a clause that requires mat a particular insured property be a specified distance from like insured or noninsured property. For example, stored dynamite ...

Legal right of a passenger in an automobile involved in an accident to bring a liability suit against the driver. It is deemed that a special standard of care is owed by an automobile ...

Maintenance of Social Security benefits at current dollar or percentage levels. Social Security benefits are indexed to the Consumer Price Index and rise in tandem with the Index. A benefit ...

Circumstances that encourage the organization of pension plans by employers. For example, employer contributions are tax deductible as business expenses and not currently taxable income to ...

Series of premium payments made to purchase an annuity. This is the same method of purchase used for level premium insurance ...

Coverage on an all risks basis for glass breakage, subject to exclusions of war and fire. Thus, if a vandal throws a brick through a window of an insured's establishment, the coverage would ...

Premium charge for a policy that is going to be in force for less than the normal period of time. ...

Sum of money to be received by an insured in the event a given loss occurs. ...