Canadian Institute Of Actuaries

Contracts of reinsurance in which expected income from investments is a major component of the UNDERWRITING process. Also, the ultimate liability of the reinsurer is limited. The reinsurer ...

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 ...

Agreement "of utmost good faith." Under law, it is assumed that insurance contracts are entered into by all parties in good faith, meaning that they have disclosed all relevant facts and ...

Individuals who inherit assets as the result of being named in a will. ...

Coverage up to specific limits for payments demanded by kidnappers for the release of an insured held against his or her will. Most ransom insurance policies have a deductible and exclude ...

Actual price paid for property when it was acquired. The original cost might apply to a piece of jewelry, to a piece of equipment, or to a building. For insurance purposes, original cost is ...

Membership organization representing professional actuaries in all insurance fields in Canada including life and health, casualty, consulting and fraternal actuaries. A member must reside ...

Insurance coverage that protects a contractor or other type of business providing a service for expenses incurred in the event a contract is not ratified by a foreign government. For ...

Coverage against only two perils, fire and lightning. The amount of coverage is per acre of standing timber for either merchantable trees (living trees with no decay, and minimum diameter), ...