Insurance Company (insurer)
Definition of "Insurance company (insurer)"
Organization that underwrites insurance policies. There are two principal types of insurance companies: mutual and stock. A mutual company is owned by its policy owners, who elect a board of directors that is responsible for its operation. A stock company is owned by its stockholders. In a mutual company, profits take the form of policy dividends, or refunds of part of premiums paid, which are distributed to policy owners. Profits in a stock company take the form of stockholders dividends, which are distributed to stockholders.
Popular Insurance Terms
Set of yield curves in which an interest rate is specified for various maturities such as monthly, quarterly, or annually. The basis of the interest rate can be corporate bond rates, United ...
Coverage for accidental injury, accidental death, or sickness; also called Accident and Sickness Insurance. Benefits include paid hospital expenses, medical expenses, surgical expenses, and ...
Annuity payments that continue for the life of the annuitant. ...
Grouping of applicants for life insurance according to expected mortality, so as to produce an underwriting classification in which the spread between health of the worst and best applicant ...
Phrase used to describe a method of annuity payout that guarantees a specified number of years, regardless of whether an annuitant remains alive. ...
Reinsurance ceded to an insurance company that is a non admitted insurer. ...
Investment income. Insurance companies invest part of their premiums that are not immediately needed for claims and administrative expenses. These earnings are critical to an insurance ...
Professional association that sets standards of performance for those engaged in actuarial functions. Members are entitled to use the professional designation MAAA (Member, American Academy ...
coverage on the bank's premises for burglary of monies, securities, and other properties from within the bank's safe (s); robbery of monies and securities; loss of monies and securities as ...
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