Terms with Category Insurance
- Benefit Period — Definition,
- The total period of time where an insurer is contractually obligated to pay benefits.
- Best's Capital Adequacy Relativity — Definition,
- A percentage used to measure a company's relative capital strength as compared to an industry peer composite.
- Blanket Insurance — Definition,
- A form of insurance that covers multiple different classes of property with one policy. Homeowner's insurance, for instance, not only covers damages to the insured home, but also the contents of the home.
- Book Value — Definition,
- The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
- A valuation method determined by taking the original cost of an asset and subtracting any depreciation, impairment or amortization costs.
- Broad Form Insurance — Definition,
- Insurance that covers rare events not normally covered in an existing insurance policy.
- Broker (Bkr) — Abbreviation,
- A person or firm who acts on behalf of another.
- Broker-Agent — Definition,
- An individual, usually in the employ of an insurance company, that is licensed as both an insurance broker and agent.
- Burial Insurance — Definition,
- Insurance that provides coverage for funeral expenses.
- Business Continuation Insurance — Definition,
- Insurance that provides coverage in the event that someone integral to the operation of a business dies or becomes disabled.
- Business Crime Insurance — Definition,
- Insurance that covers losses due to criminal acts perpetrated by customers or employees.
- Business Insurance — Definition,
- An umbrella term for insurance that covers various losses that may arise due to the operation of a business.
- Business Interruption Insurance (BII) — Acronym, Important,
- Insurance that covers losses in business income after an event interrupts business operations.
- Business Life Insurance — Definition,
- Life insurance that provides coverage in the event that a person key to the operation of a business dies.
- Business Net Retention — Definition,
- A measure of the gross writings retained by a company for their own account.
- Canada Deposit Insurance Corporation (CDIC) — Company Est. 1967, Ottawa, Ontario, Canada, Important,
- A crown corporation that provides deposit insurance against the loss of deposits made with member financial institutions.
➥ Government of Canada federal crown corporation. - Captive Agent — Definition,
- An insurance agent who uses a limited number of insurance companies, or a single insurance company, when finding products for their clients.
- Case Management — Definition,
- A system where medical services and patient treatments are coordinated by a case manager.
- Cash Surrender Value (CSV) — Acronym, Important,
- The liquid value of an insurance policy if the policyholder voluntarily cancels the policy before maturity or an insured event.
- Casualty — Definition,
- A liability or loss that results from an incident or accident.
- Casualty and Theft Loss — Definition,
- A loss caused by a hurricane, earthquake, fire, flood, theft or similar event that is sudden, unexpected or unusual. You can deduct a portion of personal casualty or theft losses as an itemized deduction.
- Casualty Insurance — Definition,
- Insurance that covers losses and liability from injuries to others and/or damage to the property of others.
- Catastrophe Hazard — Definition,
- An event, such as a hurricane or earthquake, that poses a risk of a catastrophic loss.
- Catastrophe Insurance — Definition,
- Insurance that covers losses due to catastrophe hazards such as hurricanes, earthquakes and terrorist attacks.
- Causation — Definition,
- A method of connecting an entity's conduct with an effect, which in some cases can prove legal liability.
- Ceding Party — Definition,
- In reinsurance, a ceding party is an insurance company that spreads liability to a reinsurer in order to lower risk.
- Chartered Insurance Professional (CIP) — Acronym, Canada, Very Important,
- A designation for professionals working in the casualty and property insurance industry.
➥ See also Fellow, Chartered Insurance Professional (FCIP). - Chartered Insurance Professionals' Society (CIP Society) — Company,
- An society for FCIP and CIP graduates.
- Chartered Property and Casualty Underwriter — Definition,
- A designation for professionals working in the property and casualty insurance and/or risk management fields.
- Claim — Definition,
- A creditor's assertion of a right to payment from a debtor or the debtor's property.
- Claims Adjuster — Definition,
- An individual who ascertains the insurer's liability after an insurance claim has been made.
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Benefit Period -
Business Net Retention
Business Net Retention
