Free On Board (fob)
Term meaning that an exporter of goods that are damaged or destroyed during international shipment relinquishes responsibility for the damage or destruction once the goods reach the point of destination.
Popular Insurance Terms
Government agency, under the McCarran-Ferguson act (public law 15), that has no authority over insurance matters to the extent the states regulate insurance to the satisfaction of Congress. ...
Accidental death benefit option that can be added to a disability income (DI) policy under which a lump sum is payable at the loss of life, dismemberment, or loss of sight. ...
Health insurance that provides coverage for physicians' fees for all services, with the exception of surgeons' fees. ...
Pension or other employee benefit to cover employees at two or more financially unrelated companies. The companies may employ workers from the same labor union or those in the same ...
Attachment to an insurance policy to complete its coverage. For example, the Standard Fire Policy must have certain forms attached for it to provide the coverage desired. ...
Sum returned to a policyowner by an insurance company under a participating policy. Dividends are not deemed as taxable distributions, as the Internal Revenue Service interprets them as a ...
Provision in an insurance policy that states the monetary value of each piece of property to be insured. ...
Reinsurance marketplace modeled after Lloyd's of London. Like Lloyd's, the New York Insurance Exchange is a market for hard-to-place risks and for the placement of excess or surplus lines. ...
Special type of charitable remainder trust (CRT) under which a designated beneficiary (cannot be a charitable beneficiary) receives an annual fixed income. The grantor of the trust is ...
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