General Operating Expense

Option clause in a disability income policy that the insured can exercise that would permit the insured the right to purchase additional limits of coverage regardless of the insured's ...

Contract between the reinsurer and the ceding company stipulating the manner in which insurance written on various risks is to be shared. ...

Portion of a property or liability loss retained by a policyholder. Most policyholders do not purchase insurance to cover their entire exposure. Rather, they elect to take a deductible, or ...

Standards used to determine claims payments in cases of overlapping property/liability insurance coverage. At one time, each type of insurance had its own rules to govern claims where more ...

Combination life insurance policy composed Of TERM LIFE INSURANCE and an INSTALLMENT REFUND ANNUITY. ...

Endorsement to a property insurance policy providing all risks coverage for insured property. Excluded properties include residences, farms, and manufacturing properties. This endorsement ...

Representative of an insured, not of an insurance company. Acts of a broker are not the responsibility of the company, and notice given by an insured to a broker is not the same as notice ...

Insurance company's reinsurance commissions and expense allowances divided by its adjusted surplus account. The smaller this ratio, the more financially sound the insurance company, since ...

Legal decision in which the Supreme Court of the United States ruled that states cannot require employers to provide disabled employees the same health insurance with which they provide ...