Sponsor sells interest to real estate investors in one property only. The total amount received from the equity investors is used by the sponsor to buy the property for the partnership....

Clause in some disability income insurance policies under which there is a maximum an insured can receive from all sources of disability income benefits. For example, the clause may stipulate that all sources of disability income cannot exceed 50% of the insured's gross earnings prior to the disabil...

Provision in many business and personal policies that loss or damage to one of a pair or set of individual items does not represent the loss of the pair or set. For example, the loss of one diamond earring would not entitle an insured to be reimbursed for a pair of earrings, but for only the resulti...

Group of insurers or re insurers involved in joint underwriting. Members typically take predetermined shares of premiums, losses, expenses, and profits. Syndicates, more common in reinsurance than in primary insurance, are formed to cover major risks that are beyond the capacity of a single underwri...