Incidental Malpractice

Automobile insurance plan, debated for a number of years, that is financed through a surcharge of a given number of cents per gallon (estimates run from 30 to 40 cents) to be paid by the ...

Model state statute that governs terms for surrender of individual deferred annuities and cash value life insurance. This model, adopted by most states in the late 1970s and early 1980s, ...

Amount added to the basic premium (expectation of loss) to cover an insurance company's expenses. These expenses include agent commissions, premium taxes, costs of putting a policy on the ...

Coverage under which initial premiums are less than normal for the first few years, then gradually increase for the next several years until they become level for the duration of the policy. ...

Coverage for sample merchandise while in the custody of a salesperson. ...

Formula for a given line of insurance used by property and casualty insurance companies to compare losses and loss adjustment expense with premiums. This shows the amount of each premium ...

Management philosophy developed by W. Edwards Deming, the thesis of which is the continuous improvement in quality through research in customer satisfaction and the empowerment of ...

Payment to the seller over the seller's life expectancy for the sale of the seller's assets. This procedure provides for the immediate removal of assets that have appreciated from the ...

Same as term Explosion, Collapse, and Underground Exclusion: inherent danger resulting from certain construction procedures that are excluded from general business liability policies. ...