Safety Of Assets
Quality of investments of insurance companies. State insurance regulators establish rules for company investments. Authorized investments vary, depending on whether a company is a life insurer or property casualty company and, in some instances, on whether it is a mutual or stock company. Investments must meet standards for asset type, credit quality, and diversification. Generally, insurance company assets are limited to government securities, bonds, stocks, mortgages, and certain real estate holdings.
Popular Insurance Terms
Business interruption insurance in which the insured is indemnified for loss of earnings and payment of expenses resulting from adverse weather conditions. For example, the raining out of a ...
Accounting procedures that defer the full funding of a life insurance net level premium reserve to accommodate the policy acquisition cost in the early years of a policy. First-year policy ...
Endorsement to the special multiperil insurance (smp) policy that provides all risks damage coverage for personal property. There are special limitations on amounts of coverage for furs, ...
Same as term Actuary: mathematician in the insurance field. Actuaries conduct various statistical studies; construct morbidity and mortality tables; calculate premiums, reserves, and ...
Legislation that makes insurance fraud a federal crime. This act is part of the Omnibus Crime Bill. Under the act, it is a federal crime to embezzle or misappropriate funds, money, or ...
Coverage when a director or officer of a company commits a negligent act or omission, or misstatement or misleading statement, and a successful libel suit is brought against the company as ...
Person covered under an employee benefit insurance plan. ...
Individuals other than the crew of a ship who forcefully steal the ship and/or its cargo. This event is an insured peril under ocean marine insurance. ...
Excess coverage for employers who use self insurance for routine workers compensation risks. Many employers consider workers compensation exposure to be routine and predictable and set up a ...
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