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 catastrophe hazard in general insurance, the risks of large-scale losses due to events like earthquakes, and its impact on insured populations.
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 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.
Discover the importance of housekeeping in general insurance underwriting, particularly for property insurance. Learn how property upkeep influences your insurance policy.
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 the loss constant in general insurance, an amount aimed to offset larger-than-average losses for smaller risks within the same classification.
Learn about the definition of Occurrence in General Insurance, its implications, and how it differs from an accident. Essential insurance terminology explained.
Learn about policy dividends, how they are calculated, and what they signify in general insurance. Understand the benefits for policyholders.
Learn about Policyholder's Surplus in general insurance, the foundation that ensures insurers can meet future obligations and guarantee policyholder confidence.
Learn about the term 'Portfolio' in general insurance, covering both assets invested by a company and all policies in effect along with unsettled losses.
Learn about the concept of 'Target Risk' in general insurance, which encompasses the prospective policyholders divided by race, age, sex, and other demographics. Explore its importance in the insurance industry.
Learn about the Basic Mortality Table, a tool used in general insurance that lists actual ages of death without probability adjustments. Understand its importance and application.
Learn about the concept of Degree of Risk in general insurance terms, representing the uncertainty and chance that reality may differ from predicted outcomes.
Explore the direct selling system in general insurance where insurers sell directly to the insured via employees. Learn about its methods including mail order services.
Explore what Total Loss means in general insurance. Learn how it's defined and its implications on insurance claims when property is completely destroyed.
Learn about the term 'X table' in general insurance, a table in progress that is not yet fit for rating purposes. Understand its role and significance.
Learn about the reduction of risk in the context of general insurance. Understand the importance of precautionary measures in minimizing the likelihood or severity of potential losses.
Learn about 'Salvage' in general insurance, where insurers take over property to minimize losses and understand its role in the insurance industry.
Learn the definition of Protection in general insurance terms and how it relates to coverage and neighborhood fire safety resources.
Learn about the concept of renewal in general insurance terms, which refers to the continuation of an in-force policy status through the payment of a premium.
