State Fund
Account established and administered by a state agency to finance a mandatory insurance program, for example, workers compensation insurance.
Popular Insurance Terms
Modest life insurance coverage to pay burial expenses upon the death of an insured. ...
Government group that provides reinsurance for private insurers that write riot and civil commotion insurance. Riot losses in major cities in the 1960s caused insurers to stop writing this ...
Value of a share of common stock, derived by dividing the total common stockholders' equity at the end of a period of time by the total number of shares outstanding at the end of the same ...
Premium rate charged by the insurance company (insurer), which is below the standard rate. ...
Removal of money from an individual life insurance policy or an employee benefit plan. A cash withdrawal from a life insurance policy reduces the death benefit by the amount of the ...
Exemption in ocean marine policy for losses caused by strikes, riots, and civil commotion. ...
Assignment of a unit value to each of various medical procedures for the purpose of cost comparisons. ...
Pure cost of protection, or the premium covering the present value of future claims (not including loadings for the various expenses). ...
Federal act composed of amendments to the Product Liability Risk Retention Act of 1981 and enacted to make the procedures more efficient for creating risk retention groups (capitalized, ...
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