Discover what 'losses paid' means in general insurance terms. Learn how insurance claims are processed and recognized when they are paid out.
Learn about open debits in health and life insurance, where designated territories are left without an assigned insurance agent. Explore its implications and relevance within the insurance domain.
Explore the concept of incurred losses in general insurance, which refers to losses sustained during a specific period. Understand its significance, whether paid or not.
Discover the definition of a health insurance enrollee and why they do not include dependents. Learn what it means to be an enrollee in a health insurance context.
Explore the concept of portfolio return in reinsurance, which involves the reinsurance of a portfolio that was previously reinsured. Learn about its significance, processes, and regulatory implications.
Dive into the concept of Net Level Premium in life insurance, which represents the pure cost of the policy spread over its term. Learn how it is calculated and its significance.
Learn about newly acquired autos in vehicle insurance, coverage details, and notification requirements. 30-day rule for informing insurers about new vehicle purchases.
Explore what Legal Hazard means in the insurance domain, understanding how a rise in the chance of a loss due to legal action impacts risk management.
Learn about the role of a special agent in general insurance, their responsibilities, and how they represent insurers in specific territories.
Learn about endorsements in general insurance terms. An endorsement is a form that modifies the provisions of an insurance policy when attached to it.
