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6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | The markets in which equities and debt are traded. (See Securitization of insurance risk ) [A-SHARE VARIABLE ANNUITY] | CAPITAL MARKETS | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A person who represents only one insurance company and is restricted by agreement from submitting business to any other company, unless it is first rejected by the agent’s captive company. (See Exclusive agent ) [A-SHARE VARIABLE ANNUITY] | CAPTIVE AGENT | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Insurers that are created and wholly-owned by one or more non-insurers, to provide owners with coverage. A form of self-insurance. [A-SHARE VARIABLE ANNUITY] | CAPTIVES | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Equal to 365 days of insured coverage for a single vehicle. It is the standard measurement for automobile insurance. [A-SHARE VARIABLE ANNUITY] | CAR YEAR | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A system of coordinating medical services to treat a patient, improve care, and reduce cost. A case manager coordinates health care delivery for patients. [A-SHARE VARIABLE ANNUITY] | CASE MANAGEMENT | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Term used for statistical recording purposes to refer to a single incident or a series of closely related incidents causing severe insured property losses totaling more than a given amount, currently $25 million. [A-SHARE VARIABLE ANNUITY] | CATASTROPHE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Risk-based securities that pay high interest rates and provide insurance companies with a form of reinsurance to pay losses from a catastrophe such as those caused by a major hurricane. They allow insurance risk to be sold to institutional investors in the form of bonds, thus spreading the risk. (See Securitization of ... | CATASTROPHE BONDS | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A percentage or dollar amount that a homeowner must pay before the insurance policy kicks in when a major natural disaster occurs. These large deductibles limit an insurer’s potential losses in such cases, allowing it to insure more property. A property insurer may not be able to buy reinsurance to protect its own bott... | CATASTROPHE DEDUCTIBLE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Probability of catastrophic loss, based on the total number of catastrophes in a state over a 40-year period. [A-SHARE VARIABLE ANNUITY] | CATASTROPHE FACTOR | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Using computers, a method to mesh long-term disaster information with current demographic, building and other data to determine the potential cost of natural disasters and other catastrophic losses for a given geographic area. [A-SHARE VARIABLE ANNUITY] | CATASTROPHE MODEL | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Reinsurance (insurance for insurers) for catastrophic losses. The insurance industry is able to absorb the multibillion dollar losses caused by natural and man-made disasters such as hurricanes, earthquakes and terrorist attacks because losses are spread among thousands of companies including catastrophe reinsurers who... | CATASTROPHE REINSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Separate insurance provided to cover cell phones for damage or theft. Policies are often sold with the cell phones themselves. [A-SHARE VARIABLE ANNUITY] | CELL PHONE INSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A professional designation given by The American College to financial services professionals who complete courses in financial planning. [A-SHARE VARIABLE ANNUITY] | CHARTERED FINANCIAL CONSULTANT / ChFC | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A professional designation by The American College for those who pass business examinations on insurance, investments, and taxation, and have life insurance planning experience. [A-SHARE VARIABLE ANNUITY] | CHARTERED LIFE UNDERWRITER / CLU | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A professional designation given by the American Institute for Property and Liability Underwriters. National examinations and three years of work experience are required. [A-SHARE VARIABLE ANNUITY] | CHARTERED PROPERTY/CASUALTY UNDERWRITER / CPCU | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A form of insurance that pays claims presented to the insurer during the term of the policy or within a specific term after its expiration. It limits liability insurers’ exposure to unknown future liabilities. (See Occurrence policy ) [A-SHARE VARIABLE ANNUITY] | CLAIMS-MADE POLICY | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Short for Consolidated Omnibus Budget Reconciliation Act. A federal law under which group health plans sponsored by employers with 20 or more employees must offer continuation of coverage to employees who leave their jobs and their dependents. The employee must pay the entire premium. Coverage can be extended up to 18 ... | COBRA | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | 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 insurance, it is a percentage of each claim above the deductible paid by the policyholder. For a 20 percent health insurance coinsurance clause, the ... | COINSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Property that is offered to secure a loan or other credit and that becomes subject to seizure on default. (Also called security.) [A-SHARE VARIABLE ANNUITY] | COLLATERAL | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Bars the introduction of information that indicates a person has been compensated or reimbursed by a source other than the defendant in civil actions related to negligence or other liability. [A-SHARE VARIABLE ANNUITY] | COLLATERAL SOURCE RULE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Portion of an auto insurance policy that covers the damage to the policyholder’s car from a collision. [A-SHARE VARIABLE ANNUITY] | COLLISION COVERAGE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Percentage of each premium dollar a property/casualty insurer spends on claims and expenses. A decrease in the combined ratio means financial results are improving; an increase means they are deteriorating. [A-SHARE VARIABLE ANNUITY] | COMBINED RATIO | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A broad commercial policy that covers all liability exposures of a business that are not specifically excluded. Coverage includes product liability, completed operations, premises and operations, and independent contractors. [A-SHARE VARIABLE ANNUITY] | COMMERCIAL GENERAL LIABILITY INSURANCE / CGL | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Package policy that includes property, boiler and machinery, crime, and general liability coverages. [A-SHARE VARIABLE ANNUITY] | COMMERCIAL MULTIPLE PERIL POLICY | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Short-term, unsecured, and usually discounted promissory note issued by commercial firms and financial companies often to finance current business. Commercial paper, which is rated by debt rating agencies, is sold through dealers or directly placed with an investor. [A-SHARE VARIABLE ANNUITY] | COMMERCIAL PAPER | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | 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. [A-SHARE VARIABLE ANNUITY] | COMMISSION | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Enacted in several states on health insurance policies. Insurers are required to accept all applicants for coverage and charge all applicants the same premium for the same coverage regardless of age or health. Premiums are based on the rate determined by the geographic region’s health and demographic profile. [A-SHARE ... | COMMUNITY RATING LAWS | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | See Crash parts; Generic auto parts [A-SHARE VARIABLE ANNUITY] | COMPETITIVE REPLACEMENT PARTS | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A facility established by a state to sell workers compensation in competition with private insurers. [A-SHARE VARIABLE ANNUITY] | COMPETITIVE STATE FUND | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A measure used by some state insurance departments to track consumer complaints against insurance companies. Generally, it is written as the number of complaints upheld against an insurance company, as a percentage of premiums written. In some states, complaints from medical providers over the promptness of payments ma... | COMPLAINT RATIO | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Pays for bodily injury or property damage caused by a completed project or job. Protects a business that sells a service against liability claims. [A-SHARE VARIABLE ANNUITY] | COMPLETED OPERATIONS COVERAGE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Portion of an auto insurance policy that covers damage to the policyholder’s car not involving a collision with another car (including damage from fire, explosions, earthquakes, floods, and riots), and theft. [A-SHARE VARIABLE ANNUITY] | COMPREHENSIVE COVERAGE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | The minimum amount of auto liability insurance that meets a state law. Financial responsibility laws in every state require all automobile drivers to show proof, after an accident, of their ability to pay damages up to the state minimum. In compulsory liability states this proof, which is usually in the form of an insu... | COMPULSORY AUTO INSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Liability of individuals, corporations, or partnerships for accidents caused by people other than employees for whose acts or omissions the corporations or partnerships are responsible. [A-SHARE VARIABLE ANNUITY] | CONTINGENT LIABILITY | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Synonym for insurance. [A-SHARE VARIABLE ANNUITY] | COVERAGE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Sheet metal parts that are most often damaged in a car crash. (See Generic auto parts ) [A-SHARE VARIABLE ANNUITY] | CRASH PARTS | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | The promise to pay in the future in order to buy or borrow in the present. The right to defer payment of debt. [A-SHARE VARIABLE ANNUITY] | CREDIT | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A contract that enables a user, such as a bank, to better manage its credit risk. A way of transferring credit risk to another party. [A-SHARE VARIABLE ANNUITY] | CREDIT DERIVATIVES | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A technique to lower the interest payments on a bond by raising the issue’s credit rating, often through insurance in the form of a financial guarantee or with standby letters of credit issued by a bank. [A-SHARE VARIABLE ANNUITY] | CREDIT ENHANCEMENT | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Commercial coverage against losses resulting from the failure of business debtors to pay their obligation to the insured, usually due to insolvency. The coverage is geared to manufacturers, wholesalers, and service providers who may be dependent on a few accounts and therefore could lose significant income in the event... | CREDIT INSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Life insurance coverage on a borrower designed to repay the balance of a loan in the event the borrower dies before the loan is repaid. It may also include disablement and can be offered as an option in connection with credit cards and auto loans. [A-SHARE VARIABLE ANNUITY] | CREDIT LIFE INSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | The number produced by an analysis of an individual’s credit history. The use of credit information affects all consumers in many ways, from getting a job, finding a place to live, securing a loan, getting a telephone, and buying insurance. Credit history is routinely reviewed by insurers before issuing a commercial po... | CREDIT SCORE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Term referring to property coverages for the perils of burglary, theft and robbery. [A-SHARE VARIABLE ANNUITY] | CRIME INSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Protection against damage to growing crops from hail, fire, or lightning provided by the private market. By contrast, multiple peril crop insurance covers a wider range of yield-reducing conditions, such as drought and insect infestation, and is subsidized by the federal government. [A-SHARE VARIABLE ANNUITY] | CROP-HAIL INSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Part of a property or liability insurance policy that states the name and address of policyholder, property insured, its location and description, the policy period, premiums, and supplemental information. Referred to as the “dec page.” [A-SHARE VARIABLE ANNUITY] | DECLARATION | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | The amount of loss paid by the policyholder. Either a specified dollar amount, a percentage of the claim amount, or a specified amount of time that must elapse before benefits are paid. The bigger the deductible, the lower the premium charged for the same coverage. [A-SHARE VARIABLE ANNUITY] | DEDUCTIBLE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | An annuity contract that is purchased either with a single tax-deferred premium or with periodic tax-deferred premiums over time. Payments begin at a predetermined point in time, such as retirement. [A-SHARE VARIABLE ANNUITY] | DEFERRED ANNUITY | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A retirement plan under which pension benefits are fixed in advance by a formula based generally on years of service to the company multiplied by a specific percentage of wages, usually average earnings over that period or highest average earnings over the final years with the company. [A-SHARE VARIABLE ANNUITY] | DEFINED BENEFIT PLAN | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | An employee benefit plan under which the employer sets up benefit accounts and contributions are made to it by the employer and by the employee. The employer usually matches the employee's contribution up to a stated limit. [A-SHARE VARIABLE ANNUITY] | DEFINED CONTRIBUTION PLAN | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Customer assets that are held in a checking account. Funds can be readily withdrawn by check, “on demand.” [A-SHARE VARIABLE ANNUITY] | DEMAND DEPOSIT | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | The conversion of insurance companies from mutual companies owned by their policyholders into publicly-traded stock companies. [A-SHARE VARIABLE ANNUITY] | DEMUTUALIZATION | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Financial institution that obtains its funds mainly through deposits from the public. Includes commercial banks, savings and loan associations, savings banks, and credit unions. [A-SHARE VARIABLE ANNUITY] | DEPOSITORY INSTITUTION | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | In insurance, reducing regulatory control over insurance rates and forms. Commercial insurance for businesses of a certain size has been deregulated in many states. [A-SHARE VARIABLE ANNUITY] | DEREGULATION | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Contracts that derive their value from an underlying financial asset, such as publicly-traded securities and foreign currencies. Often used as a hedge against changes in value. [A-SHARE VARIABLE ANNUITY] | DERIVATIVES | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Policy designed to fill in gaps in a business’s commercial property insurance coverage. There is no standard policy. Policies are specifically tailored to the policyholder’s needs. [A-SHARE VARIABLE ANNUITY] | DIFFERENCE IN CONDITIONS | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | The idea that a vehicle loses value after it has been damaged in an accident and repaired. [A-SHARE VARIABLE ANNUITY] | DIMINUTION OF VALUE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Property/casualty premiums collected by the insurer from policyholders, before reinsurance premiums are deducted. Insurers share some direct premiums and the risk involved with their reinsurers. [A-SHARE VARIABLE ANNUITY] | DIRECT PREMIUMS | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Method of selling insurance directly to the insured through an insurance company’s own employees, through the mail, or via the Internet. This is in lieu of using captive or exclusive agents. [A-SHARE VARIABLE ANNUITY] | DIRECT SALES/ DIRECT RESPONSE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Insurance companies that sell directly to the public using exclusive agents or their own employees, through the mail, or via Internet. Large insurers, whether predominately direct writers or agency companies, are increasingly using many different channels to sell insurance. In reinsurance, denotes reinsurers that deal ... | DIRECT WRITERS | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Covers directors and officers of a company for negligent acts or omissions, and for misleading statements that result in suits against the company, often by shareholders. Directors and officers insurance policies usually contain two coverages: personal coverage for individual directors and officers who are not indemnif... | DIRECTORS AND OFFICERS LIABILITY INSURANCE/D&O | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Money returned to policyholders from an insurance company’s earnings. Considered a partial premium refund rather than a taxable distribution, reflecting the difference between the premium charged and actual losses. Many life insurance policies and some property/casualty policies pay dividends to their owners. Life insu... | DIVIDENDS | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Term used by a state to refer to any company incorporated there. [A-SHARE VARIABLE ANNUITY] | DOMESTIC INSURANCE COMPANY | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A system of measuring insurers’ financial stability set up by insurance industry regulators. An example is the Insurance Regulatory Information System (IRIS), which uses financial ratios to identify insurers in need of regulatory attention. [A-SHARE VARIABLE ANNUITY] | EARLY WARNING SYSTEM | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | The portion of premium that applies to the expired part of the policy period. Insurance premiums are payable in advance but the insurance company does not fully earn them until the policy period expires. [A-SHARE VARIABLE ANNUITY] | EARNED PREMIUM | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Covers a building and its contents, but includes a large percentage deductible on each. A special policy or endorsement exists because earthquakes are not covered by standard homeowners or most business policies. [A-SHARE VARIABLE ANNUITY] | EARTHQUAKE INSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Total financial loss resulting from the death or disability of a wage earner, or from the destruction of property. Includes the loss of earnings, medical expenses, funeral expenses, the cost of restoring or replacing property, and legal expenses. It does not include noneconomic losses, such as pain caused by an injury.... | ECONOMIC LOSS | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | The sale of products such as insurance over the Internet. [A-SHARE VARIABLE ANNUITY] | ELECTRONIC COMMERCE / E-COMMERCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A kind of deductible or waiting period usually found in disability policies. It is counted in days from the beginning of the illness or injury. [A-SHARE VARIABLE ANNUITY] | ELIMINATION PERIOD | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Covers direct losses and damage to businesses resulting from the dishonest acts of employees. (See FIDELITY BOND ) [A-SHARE VARIABLE ANNUITY] | EMPLOYEE DISHONESTY COVERAGE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Federal legislation that protects employees by establishing minimum standards for private pension and welfare plans. [A-SHARE VARIABLE ANNUITY] | EMPLOYEE RETIREMENT INCOME SECURITY ACT / ERISA | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Part B of the workers compensation policy that provides coverage for lawsuits filed by injured employees who, under certain circumstances, can sue under common law. (See EXCLUSIVE REMEDY ) [A-SHARE VARIABLE ANNUITY] | EMPLOYER’S LIABILITY | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Liability insurance for employers that covers wrongful termination, discrimination, or sexual harassment toward the insured’s employees or former employees. [A-SHARE VARIABLE ANNUITY] | EMPLOYMENT PRACTICES LIABILITY COVERAGE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A written form attached to an insurance policy that alters the policy’s coverage, terms, or conditions. Sometimes called a rider. [A-SHARE VARIABLE ANNUITY] | ENDORSEMENT | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A form of insurance designed to cover losses and liabilities arising from damage to property caused by pollution. [A-SHARE VARIABLE ANNUITY] | ENVIRONMENTAL IMPAIRMENT LIABILITY COVERAGE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | In investments, the ownership interest of shareholders. In a corporation, stocks as opposed to bonds. [A-SHARE VARIABLE ANNUITY] | EQUITY | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Non-traditional fixed annuity. The specified rate of interest guarantees a fixed minimum rate of interest like traditional fixed annuities. At the same time, additional interest may be credited to policy values based upon positive changes, if any, in an established index such as the S&P 500. The amount of additional in... | EQUITY INDEXED ANNUITY | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A professional liability policy covering the policyholder for negligent acts and omissions that may harm his or her clients. [A-SHARE VARIABLE ANNUITY] | ERRORS AND OMISSIONS COVERAGE / E&O | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Funds that a lender collects to pay monthly premiums in mortgage and homeowners insurance, and sometimes to pay property taxes. [A-SHARE VARIABLE ANNUITY] | ESCROW ACCOUNT | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Property/casualty coverage that isn’t available from insurers licensed by the state (called admitted insurers) and must be purchased from a non-admitted carrier. [A-SHARE VARIABLE ANNUITY] | EXCESS AND SURPLUS LINES | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A contract between an insurer and a reinsurer, whereby the insurer agrees to pay a specified portion of a claim and the reinsurer to pay all or a part of the claim above that amount. [A-SHARE VARIABLE ANNUITY] | EXCESS OF LOSS REINSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A provision in an insurance policy that eliminates coverage for certain risks, people, property classes, or locations. [A-SHARE VARIABLE ANNUITY] | EXCLUSION | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A captive agent, or a person who represents only one insurance company and is restricted by agreement from submitting business to any other company unless it is first rejected by the agent’s company. (See Captive agent ) [A-SHARE VARIABLE ANNUITY] | EXCLUSIVE AGENT | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Part of the social contract that forms the basis for workers compensation statutes under which employers are responsible for work-related injury and disease, regardless of whether is was the employee’s fault and in return the injured employee gives up the right to sue when the employer’s negligence causes the harm. [A-... | EXCLUSIVE REMEDY | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Percentage of each premium dollar that goes to insurers’ expenses including overhead, marketing, and commissions. [A-SHARE VARIABLE ANNUITY] | EXPENSE RATIO | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Record of losses. [A-SHARE VARIABLE ANNUITY] | EXPERIENCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Possibility of loss. [A-SHARE VARIABLE ANNUITY] | EXPOSURE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | An endorsement added to an insurance policy, or clause within a policy, that provides additional coverage for risks other than those in a basic policy. [A-SHARE VARIABLE ANNUITY] | EXTENDED COVERAGE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Pays a certain amount above the policy limit to replace a damaged home, generally 120 percent or 125 percent. Similar to a guaranteed replacement cost policy, which has no percentage limits. Most homeowner policy limits track inflation in building costs. Guaranteed and extended replacement cost policies are designed to... | EXTENDED REPLACEMENT COST COVERAGE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A reinsurance policy that provides an insurer with coverage for specific individual risks that are unusual or so large that they aren’t covered in the insurance company's reinsurance treaties. This can include policies for jumbo jets or oil rigs. Reinsurers have no obligation to take on facultative reinsurance, but can... | FACULTATIVE REINSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Insurance pools that sell property insurance to people who can’t buy it in the voluntary market because of high risk over which they may have no control. FAIR Plans, which exist in 28 states and the District of Columbia, insure fire, vandalism, riot, and windstorm losses, and some sell homeowners insurance which includ... | FAIR ACCESS TO INSURANCE REQUIREMENTS PLANS / FAIR PLANS | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Package policy that protects the policyholder against named perils and liabilities and usually covers homes and their contents, along with barns, stables, and other structures. [A-SHARE VARIABLE ANNUITY] | FARMOWNERS-RANCHOWNERS INSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Reserve balances that depository institutions lend each other, usually on an overnight basis. In addition, Federal funds include certain other kinds of borrowings by depository institutions from each other and from federal agencies. [A-SHARE VARIABLE ANNUITY] | FEDERAL FUNDS | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Federal agency in charge of administering the National Flood Insurance Program. It does not regulate the insurance industry. [A-SHARE VARIABLE ANNUITY] | FEDERAL INSURANCE ADMINISTRATION / FIA | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Seven-member board that supervises the banking system by issuing regulations controlling bank holding companies and federal laws over the banking industry. It also controls and oversees the U.S. monetary system and credit supply. [A-SHARE VARIABLE ANNUITY] | FEDERAL RESERVE BOARD | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A form of protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees. [A-SHARE VARIABLE ANNUITY] | FIDELITY BOND | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A type of surety bond, sometimes called a probate bond, which is required of certain fiduciaries, such as executors and trustees, that guarantees the performance of their responsibilities. [A-SHARE VARIABLE ANNUITY] | FIDUCIARY BOND | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Legal responsibility of a fiduciary to safeguard assets of beneficiaries. A fiduciary, for example a pension fund manager, is required to manage investments held in trust in the best interest of beneficiaries. Fiduciary liability insurance covers breaches of fiduciary duty such as misstatements or misleading statements... | FIDUCIARY LIABILITY | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | States where insurers must file rate changes with their regulators, but don’t have to wait for approval to put them into effect. [A-SHARE VARIABLE ANNUITY] | FILE-AND-USE STATES | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | Covers losses from specific financial transactions and guarantees that investors in debt instruments, such as municipal bonds, receive timely payment of principal and interest if there is a default. Raises the credit rating of debt to which the guarantee is attached. Investment bankers who sell asset-backed securities,... | FINANCIAL GUARANTEE INSURANCE | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
6d5841ec_Glossary_Flashcards___Cram_com__A_SHARE_VARIABLE_ANNUITY | A state law requiring that all automobile drivers show proof that they can pay damages up to a minimum amount if involved in an auto accident. Varies from state to state but can be met by carrying a minimum amount of auto liability insurance. (See Compulsory auto insurance ) [A-SHARE VARIABLE ANNUITY] | FINANCIAL RESPONSIBILITY LAW | [] | III's Glossary Flashcards - Cram.com | A-SHARE VARIABLE ANNUITY | http://www.cram.com/flashcards/iiis-glossary-457869 | 38/1438042981969.11_20150728002301-00177-ip-10-236-191-2_395541887_0.json |
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