Commissioners Values
Specific values of securities computed annually by the national association of insurance commissioners (NAIC) as guidelines and procedures for insurance companies in listing of their securities in their annual statements. Values are the same for all insurers. This gives insurance commissioners a basis for valuing securities and ensuring that a company has sufficient assets to back up the reserve requirements.
Popular Insurance Terms
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 ...
Legislation designed to provide the structural reform necessary to strengthen the thrift industry after the bailout of the insolvent Federal Savings and Loan Insurance Corporation (FSLIC) ...
Coverage that provides for replacement of damaged or destroyed property on a new replacement cost basis without any deduction for depreciation. This is equivalent to replacement cost ...
Contract between the reinsurer and the ceding company stipulating the manner in which insurance written on various risks is to be shared. ...
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Retention of all files of policies sold by the agent of record who, according to written agreement with the insurance company, has the exclusive rights to solicit renewals. ...
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Trust in which rights to make any changes therein are retained by the grantor. At the grantor's death all rights become irrevocable. This type of trust has several advantages: it can avoid ...
Classification of occupations according to the degree of risk inherent in that occupation. ...
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