Nonparticipating Insurance
Definition of "Nonparticipating insurance"
Policy not designed to pay the policyowner a dividend.
Popular Insurance Terms
Coverage in the event of threats to injure an insured or damage or destroy his property. ...
Clause in an insurance policy stipulating that the benefits under the policy will accrue to the right of the insured. For example, if the insured leaves a violin at a repair shop and that ...
From favor payment by an insurance company to an insured even though the company has no legal liability. The company makes such a payment for goodwill purposes. ...
Shortened report showing pertinent insurance policy information, copies of which are distributed in the insurance company's home office and branch offices, as well as to agents and brokers. ...
Tax assessed by the states as a payroll tax on employers to pay for unemployment compensation ...
Same as term Tabular Plans: retrospective rating system with basic, minimum, and maximum premium rates listed in manual tables. Calculation of an individual premium involves adjusting the ...
Policy not designed to pay the policyowner a dividend. ...
Automatic reinsurance that requires an insurer to transfer (cede) and the reinsurer to accept the part of every risk that exceeds the insurer's predetermined retention limit. The reinsurer ...
Essential parts of insurance policies that explain the meanings of important words and phrases found in those policies. ...
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