Livestock Mortality (life) Insurance
Definition of "Livestock mortality (life) insurance"
Coverage that provides a death benefit to the owner of a policy in the event of the death of insured livestock.
Popular Insurance Terms
Provision for coverage for buildings and personal property within the simplified commercial lines portfolio policy (sclp). The buildings and personal property coverage may be classified in ...
Automatic reinsuring of individual risks by an insurer with a reinsurer. The insurer must transfer the risks to its reinsurer and its reinsurer must accept this transfer. ...
Procedure in which a home office interviewer (who may or may not have underwriting experience) interviews applicants on the telephone. The questions asked the applicant are automated and ...
Model state regulation that governs method of selling life insurance to prevent fraud or misrepresentation by agents or insurers. A life insurance disclosure model regulation to help buyers ...
Hazard covered under catastrophe reinsurance. This form of excess of loss reinsurance protects the ceding company for loss above the retention limit caused by multiple catastrophic events. ...
Three terms that are synonymous. Same as term Ordinary Life Insurance: policy that remains in full force and effect for the life of the insured, with premium payments being made for the ...
Report furnished by the adjuster to the, insurance company (insurer) that documents the amount of payment the insurer is legally obligated to pay to or on behalf of the insured under the ...
Period allowed an insured to notify an insurer of loss. Many policies require immediate written notice, or notice as soon as practicable. Different types of policies have their own time ...
Technique of breaking down the various losses as a whole into useful components called subsets (strata) so that no subset is overrepresented. The result is the classification of losses ...
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