Funded Cover
Definition of "Funded cover"
Transaction in which the ceding company pays a premium and is guaranteed certain future payments to fund future losses. If losses are less than was expected, the ceding company receives a profit commission. Conversely, if catastrophic losses are occurring at a faster rate than the investment return earned on the premium, the ceding company will not receive its full recovery on its reinsurance.
Popular Insurance Terms
Organization of insurance broker and agent associations that includes the Independent Insurance Agents of America, National Association of Professional Insurance Agents, National ...
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Value in life insurance policies that entitle the insured to these choices: to relinquish the policy for its CASH SURRENDER VALUE. (Note that in the beginning years the cash value may be ...
Federal legislation passed in 1988 (repealed November 23, 1989) that significantly increased the benefit amounts provided under medicare, both Part A and Part B, in the following manner: ...
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Amount for which financial loss for bodily injury incurred by the plaintiff must exceed before a tort liability action may be brought. ...
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Portion of a life insurance policy cash value after the deduction of all the policyowner's indebtedness. ...
Numerous automotive vehicles covered under a common insurance policy. ...
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