Learn about whole dollar premiums in general insurance, where premiums are rounded to the nearest dollar, providing a convenient, round number for insured parties to pay.
Learn about 'Credit Carried Forward' in reinsurance, its implications under spread loss, and how it impacts accounting periods. A key term for insurance professionals.
Understand incurred expenses in general insurance, which refer to costs that have been accrued but not yet paid. Learn about their significance in insurance claim handling and financial reporting.
Learn about reserves in general insurance terms, including how insurers use these funds to cover debts and specific purposes.
Learn about unallocated funds in pensions, where plan funds are pooled together for the benefit of all participants. Explore its significance and how it impacts pension plans.
Learn about the concept of a taxable estate, an essential term in estate planning, calculated as the adjusted gross estate minus any marital and charitable deductions.
