Surrender Charge

Specifications dealing with exclusions, policy requirements, cancellations and related matters. Perils Most policies exclude enemy attack, invasions, insurrection, rebellion, revolution, ...

Part of a marine cargo policy that exempts the policyholder from vouching for the seaworthiness of the vessel. For example, while a purchaser of hull marine insurance warrants that a ship ...

In a pension plan that an employer is required to make against future contributions (other than a cash basis as required by the IRS). Such credits may arise when an employee leaves an ...

Amendment to a will that adds or modifies clauses in that will, such as adding an additional beneficiary or piece of property. ...

Agreement by an insurance company to underwrite business submitted by an agent or broker even though that business is substandard. The object is to continue to attract profitable business ...

One of four SEC divisions that administers the procedure through which public companies must disclose all relevant material in order that a potential investor might make an informed ...

Employee stock ownership plan (ESOP); trust (ESOP) under which an employer received tax credit instead of a tax deduction for contributions. Until passage of the tax reform act of 1986, the ...

Term or whole life policy with a face value that increases over time. ...

Describing a risk whose probability of loss is less than the norm or the standard expectation of loss for that underwriting classification. ...