War Damage Insurance Corporation
Definition of "War damage insurance corporation"
Government reinsurance program that provided coverage for U.S. properties during World War II. Private insurers shared the first layer of coverage, with the government providing catastrophic loss coverage. This is one of several government insurance programs for exposures that private insurers cannot cover because techniques of spreading the risk do not apply.
Popular Insurance Terms
In property insurance contracts, provision that states that the violation of one or more contract condition^) at a particular location that is insured will not void coverage at other ...
Insurance that follows an insured property. ...
Value of loss resulting from loss of use of property. For example, a fire damages the structure of business premises and the business loses customer income until it can reopen. The loss in ...
Technique for expressing limits of liability coverage under a particular insurance policy, stating separate limits for different types of claims growing out of a single event or combination ...
transfer of money from or an employer-sponsored pension or other qualified plan into an INDIVIDUAL RETIREMENT ACCOUNT (IRA) with out paying tax on the distribution. transfer of money from ...
Type of excess of loss reinsurance in which the insurance company (cedent) cedes its known loss revenues to its reinsurer. ...
Variable-rate bonds whose coupon and value increases as interest rates decrease. ...
Premium that equals the net level premium plus the modification of the net level premium to reflect the cost associated with paying for the first year initial acquisition expenses. The ...
Option under a participating life insurance policy by which the policy owner can elect to have the dividends purchase paid-up increments of permanent insurance. ...
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