State Savings Guarantee Corporation
State-sponsored insurance fund that was intended to guarantee deposits at state-chartered savings institutions. A handful of these funds existed in the early 1980s, but after a string of savings and loan failures in Maryland and Ohio in 1985, these funds were phased out and the member savings institutions converted to Federal Deposit Insurance.
Popular Insurance Terms
Independent agency supported by the insurance industry that tests a variety of materials, products, and devices, such as appliances and electrical equipment, to assure that they meet safety ...
In property insurance policy, clause that stipulates that if legislative acts or acts of the insurance commissioner's office expand the coverage of an insurance policy or endorsement forms ...
Type of mutual insurance company that requires a substantial initial premium payment. After the initial premium payment is made, future premium payments required will be paid from the ...
Combination of property insurance on the hull of an airplane and liability insurance in the following manner: property coverage provided on an ALL RISKS basis or on a specified perils ...
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 ...
Trust that qualifies assets under the marital deduction provision in the Federal Tax Code for favorable treatment of an estate. The surviving spouse has the full power to use the assets of ...
Reinsurance broker for a primary company (the re-insured). This broker is paid commissions by the reinsurance company, just as an agent is paid commissions by an insurance company for ...
Coverage for an employer in the event of dishonesty of any employee. ...
Provision for every citizen of the United States to be guaranteed by law the right to purchase health insurance and is required by law to make such a purchase. ...

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