Learn about sinkhole collapse in property insurance, a peril caused by sudden earth movement into underground cavities. Understand coverage options available under commercial property forms.
Discover the meaning of 'Slip' in general insurance terms, especially within Lloyd's of London. Learn how brokers use slips to identify the syndicate that has accepted a risk and the submission process to Lloyd's underwriters.
Learn about Social Insurance, a legally mandated insurance scheme that ensures basic economic security for a population by providing coverage for loss of income due to illness, old age, and unemployment.
Discover the Society of Insurance Research (SIR) and its role in promoting insurance research and fostering the exchange of ideas among researchers in the insurance industry.
Discover the essentials of the Special Coverage Form in property insurance, detailing its comprehensive all-risk coverage and key exclusions.
Learn about the Special Personal Property Form, a former insurance policy that covered commercial risks contents against all perils, now mostly replaced by the Building and Personal Property Coverage Form.
Learn about sprinkler leakage insurance in property insurance, which covers water damage from sprinkler system leaks, but not from fire discharge.
Discover the role of a state agent in the insurance industry, a term historically referring to an agent who operates exclusively within specific states.
Learn about the role of state associations of insurance agents in promoting agencies and addressing common problems within the insurance industry.
Learn about State Funds in general insurance, including their role in financing legally mandated insurance such as workers compensation.
Learn about Storekeeper’s Burglary and Robbery Insurance, a package policy that provides storekeepers with coverage against seven key criminal hazards, ensuring protection for their business.
Learn about the Storekeeper’s Liability Policy, a comprehensive insurance package covering property damage and bodily injury liability for storekeepers. Essential for everyday business operations.
Understand the meaning of a Subscriber in Health Insurance. Learn who is eligible for enrollment and who pays the premiums.
A comprehensive guide that explains the necessity and importance of the Summary Annual Report, a mandatory document sent to each pension plan participant annually.
Learn about the supplemental extended reporting period in claims made liability policies, which extends the time frame for filing claims.
Learn about surplus lines in insurance, referring to risks that cannot be insured by agents within their jurisdiction. Explore regulations and the role of surplus lines insurers.
Learn about Surplus Reinsurance, an automatic reinsurance type where the ceding company transfers risks exceeding their retention limit. Explore its functions and benefits in risk management.
Learn what it means to surrender a life insurance policy, the financial implications of cash value, and what policyholders need to consider.
Understanding the term 'Tabular' in insurance: refers to data or costs derived from tables like mortality tables in risk assessment.
Learn about tax sheltered annuities, where contributions are tax-deductible and benefits are not taxable until payout. Ideal for employees seeking tax-deferred growth.
Understand the term rule in general insurance, including the clause detailing coverage duration and applicable discounts for policies of one year or more.
Understand therapeutic alternatives in health insurance. These are different drugs with varying chemical makeups that provide the same results for patients. Learn more about how they impact healthcare choices and insurance coverage.
Discover what third party insurance, or liability insurance, entails. Learn how it involves the insured, the insurer, and the third party who's been affected.
Comprehensive guide to Tobacco Sales Warehouses Coverage Form in Property Insurance, focusing on operational coverage and specific time frame protection for tobacco products.
Learn about Transit Policy in Property Insurance, which provides coverage for property during transportation between locations. Ensure your goods are protected with the right transit policy.
Learn about the trust and commission clause in property insurance policies. Discover how this clause allows individuals to insure their share of another's property, and understand its significance.
Learn how Tuition Fees Insurance safeguards schools from financial losses due to unforeseen closures, ensuring tuition fees are protected similar to business interruption insurance.
Discover what an unallocated benefit in health insurance means, how it works, and its implications on health care expenses without a corresponding schedule of benefits.
Learn about the term 'Accident' in general insurance - an unplanned, sudden occurrence beyond the control of the insured.
Learn about 'Property Other than Money and Securities (Criminal)' in commercial crime policies, which refers to tangible property with intrinsic value, such as office furniture or supplies.
An Act of God in general insurance terms refers to a natural event outside of human control, such as an earthquake. Learn more about its definition and implications.
Learn about the additional death benefit in life insurance, an extra benefit payable to beneficiaries upon the insured's death.
Discover what an Annual Aggregate Limit is in general insurance. Learn about the yearly maximum coverage, the policy limits, and the implications on multiple claims within the year.
Learn about the average weekly wage, how it is calculated, and its significance in determining workers compensation benefits.
Explore the concept of blanket insurance in both health and property insurance, where entire groups or multiple types of properties are covered under a single contract.
Learn about bodily injury in health insurance, which covers physical damage to a person's body. Discover what this term means and its implications for your healthcare coverage.
Learn what Bordereau is in reinsurance, how it helps ceding companies provide essential information to reinsurers, and its impact on loss history and premium history.
Explore the concept of Bottomry in Property Insurance, an insurance contract using a ship or its cargo as collateral for maritime voyage loans. Learn how it impacts loan repayments in maritime losses.
Learn about catastrophe hazard in general insurance, the risks of large-scale losses due to events like earthquakes, and its impact on insured populations.
Learn about Charitable Gift Life Insurance, where a policy is donated to a charity allowing the donor to receive a tax deduction. Discover its benefits and usage.
A comprehensive overview of the concept of 'Class' in general insurance, which refers to a group of policyholders with similar characteristics grouped together for rating purposes.
Learn about coinsurance in both property and health insurance: how it determines claim payments in property insurance and the policyholder's cost responsibilities in health insurance.
Learn about the coinsurance requirement in general insurance terms, which defines the necessary amount of insurance coverage to avoid coinsurance penalties on a loss.
Learn about Commercial Package Policy (CPP) which includes coverage options for Commercial Property, Business Crime, Business Automobile, and more for commercial organizations.
Learn about Commissioner's Values, a crucial list of securities' values published annually by the National Association of Insurance Commissioners, used for insurance company balance sheets.
Compulsory insurance refers to types of insurance coverage that are mandated by law such as automobile insurance. Learn what it means, why it's required, and common examples.
Learn about contents in personal and commercial property insurance, including what is covered and what isn't, such as electronics, clothing, office furniture, and machinery.
Learn about contributory plans where employees contribute to their premium in health and life insurance policies.
Explore what conversion privilege means in health and life insurance, including how it allows insured individuals to switch from group to individual policies upon leaving a group.
Learn about Convertible Collision Insurance - a unique vehicle insurance policy that covers all losses after claims exceeding the deductible are paid. Find out why this type of policy is rare and how it can benefit you.
Explore the concept of corridor deductible in health insurance, including how it functions and its impact on your medical expenses. Learn about hospital and medical cost payments before coinsurance.
Learn about Coverage Trigger (Liability), a crucial concept in determining if an insurance policy covers a claim. Understand how it functions in liability insurance.
Learn about the Date of Service in health insurance, which refers to the specific day a health care practitioner attends to or treats an insured individual.
Learn about Decreasing Term Life Insurance, a life insurance policy where the death benefit decreases over time until it reaches zero. Ideal for mortgage coverage and specific financial needs.
Learn about Deposit (Pensions) - the payments made towards a pension fund by employees, employers, or both, and understand its significance in insurance.
Discover how a Disability Buy Sell policy funds an agreement to purchase the interests of a disabled stockholder. Learn more about buy sell agreements in health insurance.
Explore earthquake insurance, an essential component of property insurance that covers losses and damages caused by earthquakes. Learn why it is crucial for homeowners in seismic zones.
Dive into what an Educational Assistance Plan is in the context of pensions—employer-offered benefits where employees’ educational costs are reimbursed.
Explore the concept of expenses in general insurance terms, focusing on the cost, minus losses, of operating an insurance company.
Learn about the term 'Experience' in general insurance, which refers to the record of loss associated with an agent, insured, or another category, and can also represent the ratio of losses to premiums.
An overview of the expiration card used in general insurance for track policy renewals, ensuring policies are updated timely for continued coverage.
Learn about the term Exposure in general insurance, which refers to situations where a loss could occur, the likelihood of such a loss, and its impact based on the surrounding area.
Learn about Fair Rental Value Coverage, which safeguards rental income from properties damaged by covered hazards. Protect your rental income with this essential insurance coverage.
Learn about Family Income Policies in life insurance. Discover how these policies provide financial security with a regular income stream to beneficiaries until a specified date in the future.
Learn about the 'Fee Schedule' in health insurance, which outlines the maximum charges for providers operating on a fee-for-service basis.
Learn about the term 'Field Force' which refers to the agents and supervisors working for an insurance company in local offices. Essential for anyone involved in the insurance industry.
Explore the concept of funding level in health insurance, which refers to the amount needed for a medical care program whether through premium costs or anticipated claim loss and fees.
Learn about the significance of fur and jewelry floater insurance, covering valuable items like jewelry and furs against all risks, no matter their location.
Learn about General Account in Annuities, the investment portfolio used for premiums, often consisting of safe, guaranteed investments.
Learn about general insurance terms, focusing on how insurance reduces risk by transferring it to insurers and the role of premiums and policy contracts.
Learn about group certificates provided to policyholders in group health and life insurance plans, detailing the benefits offered under the group policy.
Learn about group contracts in health and life insurance, including benefits, coverage details, and eligibility for employees under a single employer.
Learn about the illegal high-pressure tactics used in selling health insurance policies and how to identify and prevent being a victim. High-pressure tactics often involve threats, intimidation, or coercion, especially in marketing Medicare supplemental policies.
Discover the importance of housekeeping in general insurance underwriting, particularly for property insurance. Learn how property upkeep influences your insurance policy.
Discover the concept of inherent vice in property insurance, a fundamental term describing a property defect that leads to its self-destruction.
Learn what an inspection report in general insurance entails, including its purpose, and the type of information it contains.
Learn about insurance claims, the process of requesting disbursement of promised benefits, and key terminology in the insurance domain.
Explore the significance of insurance forms, also known as endorsements or riders, in the completion of an insurance policy. Learn how they are integral in defining the terms and coverage of your insurance.
Learn about Key Person Insurance, a crucial life insurance policy that safeguards businesses from financial hardships due to the death of a key employee. Discover its benefits, coverage, and importance.
Explore the specialized kidnap-ransom insurance, designed to protect financial institutions from financial loss due to ransom demands for employees. Learn about its unique coverage and market existence.
Comprehensive guide on the length of stay in health insurance, which refers to the total number of days an insured individual stays in a hospital or similar medical facility. Learn its impact on insurance claims and healthcare costs.
Explore the benefits and features of level premium insurance in life policies. Learn how premiums remain constant throughout the term, making life insurance manageable and predictable.
Learn about 'Liabilities' in general insurance terms, a crucial concept referring to money that is currently owed or that will be owed in the future.
Explore the concept of Lien Plan in liability insurance, a specialized coverage for substandard risks where reduced policy benefits are paid out if the insured dies before a specified timeframe.
Explore the mixture of life insurance and long-term care coverage known as living need benefits. Learn how this practice affects the value of the life insurance policy.
Explore the role and function of a Lloyd's syndicate within the general insurance sector. Learn how this group of underwriters manages risks and its significance in the insurance market.
Learn about long term disability insurance, a policy designed to provide financial support in the event of a prolonged disability. Coverage usually extends until the insured individual reaches the age of 65.
Learn about Loss Limitation in Workers Compensation and how it functions within retrospective rating formulas to limit catastrophic losses.
Discover Medicare Select Policy, a specialized Medicare supplement that offers benefits through a specified network of providers. Learn how it can support your healthcare needs.
Learn about morbidity in health insurance, focusing on the comparative frequency of disease and its impact on policy underwriting and premiums.
Learn how multiple option plans in health insurance provide employees with choices among HMOs, PPOs, and major health plans. Ideal for making informed decisions about your healthcare coverage.
Learn about the Net Amount at Risk in liability insurance, which is the difference between the face value of the policy and the reserve accumulated under the policy.
Learn about no-fault insurance in vehicle insurance, which allows the injured party to file claims with their own insurance company irrespective of fault. Discover how this legally mandated insurance works.
Learn about the definition of Occurrence in General Insurance, its implications, and how it differs from an accident. Essential insurance terminology explained.
Discover what paid losses refer to in the context of general insurance. Learn how insurers calculate the amount paid out in losses over a specific time frame.
Learn about partial disability in health insurance, a term that refers to a disability from injury or illness that hinders the insured from completing all occupational tasks. Discover how it is defined and impacts policyholders.
Explore partial hospitalization services in health insurance. Learn how these outpatient treatments serve as alternatives or continuations for mental health and substance abuse patients.
Learn about Participation in Health Insurance: gauging the number of employees enrolled in a plan relative to those eligible for coverage.
Learn about the payback period in general insurance terms, including how to calculate it and its significance in assessing investment returns.
Learn about performance bonds (surety) and their importance in ensuring proper contract fulfillment in various industries.
