Combined Single Limit
Definition of "Combined single limit"
Bodily injury liability and property damage liability expressed as a single sum of coverage.
Popular Insurance Terms
Insurance in which most of the premium (generally 80 to 90%) is invested in traditional fixed income securities. The remainder of the premium is invested in call option contracts tied to a ...
Insurance coverages for businesses, commercial institutions, and professional organizations, as contrasted with personal insurance. ...
Record a debit (or other) agent makes for premiums collected, time period for which the policy is paid, and the week of collection or date the premium was paid. In essence, the debit agent, ...
Life and health insurance business for which the prospective insured or insureds have signed the application, completed the medical examination, and paid the required premium. ...
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Contract sold by insurance companies that pays a monthly (quarterly, semiannual, or annual) income benefit for the life of a person (the annuitant). The annuitant can never outlive the ...
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Rate not subsequently adjusted. The rate stays in effect regardless of an insured's subsequent loss record. ...
Number of times losses occur, and their severity. These statistics measure expectation of loss, and are critical in establishing a basic premium or the pure cost of protection that is based ...
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