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Insurance
Insurance is a promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Examples include car insurance, health insurance, disability insurance, life insurance, and business insurance.
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Insurance > Life insurance
change in policyholder surplus
Insurance; Life insurance
The percentage change in policyholder surplus from the prior year-end derived from operating earnings, investment gains, net contributed capital and other miscellaneous sources. ...
chartered property and casualty underwriter (CPCU)
Insurance; Life insurance
Professional designation earned after the successful completion of 10 national examinations given by the American Institute for Property and Liability Underwriters. Covers such ...
coinsurance
Insurance; Life insurance
In property insurance, requires the policyholder to carry insurance equal to a specified percentage of the value of property to receive full payment on a loss. For health ...
collision insurance
Insurance; Life insurance
Covers physical damage to the insured's automobile (other than that covered under comprehensive insurance) resulting from contact with another inanimate object.
combined ratio after policyholder dividends
Insurance; Life insurance
The sum of the loss, expense and policyholder dividend ratios not reflecting investment income or income taxes. This ratio measures the company's overall underwriting ...
commercial lines
Insurance; Life insurance
Refers to insurance for businesses, professionals and commercial establishments.
commission
Insurance; Life insurance
Fee paid to an agent or insurance salesperson as a percentage of the policy premium. The percentage varies widely depending on coverage, the insurer and the marketing methods.
Sub-categories
- Car insurance (39)
- Commercial insurance (92)
- General insurance (136)
- Health insurance (5560)
- Home insurance (17)
- Life insurance (3867)
- Medicare & Medicaid (23018)
- Travel insurance (7)