Fair value – the amount on which an asset (or liability) could be acquired (or married) or sold (or liquidated) in the context of current transactions between the contracting parties, i.e. other than in the case of forced sale or forced liquidation. The market prices indicated in the active markets are the best proof of fair value and, if necessary, serve as a basis for valuation. When a quoted market price is available, fair value is the product of the number of business units that measure the market price. Work Allowance – insurance of an employer`s liability in the event of injury, disability or death of persons in their employment, regardless of your fault, as required by the National or Federal Workers` Compensation Act and other laws. Adjuster – a person who verifies claims and recommends settlement options based on claims estimates and insurance policies. Gross premium – Net premium for insurance plus commissions, operating commissions and other commissions. For life insurance, it is the premium, including dividends. Dual Interest – insurance that protects the shares of the creditor and the debtor in the assets that secure the debtor`s credit transaction. “Dual Interest” includes insurance commonly referred to as “limited double rates.” Credit risk – part of the risk-based capital formula, which deals with the ability to recover a company`s debts and the risk of loss from a supplier or intermediary that has received advances. Collateral Loans: unconditional obligations to pay money guaranteed by the security of an investment.
And if you`re just looking for quotes, it`s pretty easy to do it yourself online. Retrocession – the portion of the risk that a reinsurance company represents or the amount of insurance that the company does not comply with. Direct written premium – total premiums collected by an insurance company without adjustment for the return of a portion of these premiums to the reinsurer. Tracking events – events or transactions available after the balance sheet closing date, but before the legal financial statements and before the date of issuance of the audited financial statements or for the institution. Credit Health Insurance – A policy that returns the creditor as the beneficiary of the debtor`s insurance and thus transfers the balance of payment to the creditor in the event of intervention on the debtor. Condos – owner`s insurance sold to occupy the owners of the property described. Pre-sale premiums – occur when a policy has been processed and the premium has been paid before the effective date. These are liable to the company and are not included in the issued premium or the unearned premium reserve. Health plan – written commitment of coverage for an individual, family or group of insureds when a beneficiary is entitled to a defined set of health care, for example. B against a defined consideration.
B a bonus. With respect to automobile insurance, for example, the probability of a right against a young driver living in an urban area may be higher than that of a suburban teen driver. Generally speaking, the higher the risk, the more expensive the insurance policy (and therefore insurance premiums). Most consumers in the region find the best way to find the most advantageous insurance premiums. You can choose to buy independently of certain insurance companies.