Insurance company that actually underwrites and issues the insurance policy. The term is used because the insurance company assumes or carries the risk for policyowners. The agent usually has a primary carrier (the insurance company to which most of the business is submitted) and secondary carriers (to which lesser amounts are submitted). The primary carrier provides the agent with commission schedules, expense allowance, and the availability of markets for the agent's business.
Popular Insurance Terms
Provision in health insurance under which an insured disabled person is required to undertake (and is reimbursed for) expenses associated with vocational rehabilitation for retraining to ...
Coverage for business risks including goods in transit, fire, burglary, and theft. A common example is the COMMERCIAL PACKAGE POLICY (CPP). ...
Physical damage to one's person. The purpose of liability (casualty) insurance is to cover bodily injury to a third party resulting from the negligent or intentional acts and omissions of ...
State laws based on a model law of the National Association of Insurance Commissioners (NAIC) that allow insurers to set rates independently; or adopt those rates developed by a rating ...
Termination of coverage in insurance. ...
Amount that each member of a pool contributes to that pool. ...
Agreement in which spouse X (the spouse who is mandated by the court to make alimony and/or child support payments to spouse Y) must put assets (the principal) in a trust, from which the ...
Authority that administers state laws regulating insurance and licenses insurance companies and their agents. ...
Hospital, physician, or other provider of health care that an insurer recommends to insureds. A PPO allows insurance companies to negotiate directly with hospitals and physicians for health ...
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