Inspection Report
Statement prepared by an inspection bureau for a life or health insurance company that summarizes information about an applicant for a policy, including financial standing, morals, physical condition, habits, and other information. This report is used by a company underwriter in evaluating an application for insurance; that is, whether the company should classify an individual as a standard risk at standard insurance rates, as a substandard risk (charged an extra rate), or as uninsurable.
Popular Insurance Terms
Statistics (such as health data from physical examination of employees or other insureds) used as a benchmark from which deviations and comparisons of expected losses, as well as future ...
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Same as term Coinsurance: ...
Life insurance company or property and casualty insurance company licensed by a particular state to conduct business there. The company is subject to the state insurance code governing such ...
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