Definition and meaning of CLAD :

CLAD: Commercial limited assigned distribution

(Source: Bank of America )

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Definition and meaning of cede :

cede: To reinsure the liabilities associated with insurance policies by passing a portion of the risk exposure and the related premium to a reinsurer.

(Source: Bank of America )

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Definition and meaning of capitation :

capitation: Method of payment whereby a physician or hospital is paid a fixed amount for each person in a particular plan regardless of the frequency or type of service provided.

(Source: Bank of America )

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Definition and meaning of case base reserve :

case base reserve: A discrete reserve established for the payment of expected claims on individual issues that are in default or have a reasonable expectation of defaulting

(Source: Bank of America )

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Definition and meaning of cash & short-term investments :

cash & short-term investments: Cash on hand and on deposit and short-term investments

(Source: Bank of America )

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Definition and meaning of cash value :

cash value: The amount available in cash upon surrender of a policy before it becomes payable upon death or maturity.

(Source: Bank of America )

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Definition and meaning of claim :

claim: Notification to an insurance company that payment of an amount is due under the terms of the policy. A claim is a demand by a person or business who is seeking to recover for a loss. A claim may be made against an individual. A claim may also be made against an insurance company, when an insured asks the insurance company to pay for a loss that may be covered by an insurance policy.

(Source: Bank of America )

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Definition and meaning of co-insurance :

co-insurance: Arrangement by which the insurer and the insured share, in a specific ratio, payment for losses covered by the policy, after the deductible is met.

(Source: Bank of America )

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Definition and meaning of capital charge :

capital charge: A measure of portfolio risk based on an expected loss, considering the default frequency (relative likelihood of default in severe economic depression) and loss severity (relative duration and magnitude

(Source: Bank of America )

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Definition and meaning of comprehensive insurance :

comprehensive insurance: The part of an auto insurance policy that pays out in the event of extensive physical damage (known as the totaling of a car) or theft of the car.

(Source: Bank of America )

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Definition and meaning of combined ratio :

combined ratio: The sum of the loss ratio plus the expense ratio plus the policyholder dividend ratio.

(Source: Bank of America )

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Definition and meaning of combination plans :

combination plans: Life insurance policies that combine features of term and whole life policies.

(Source: Bank of America )

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Definition and meaning of comprehensive medical expense insurance :

comprehensive medical expense insurance: Insurance that provides coverage, in one policy, for basic hospital expense and major medical expense.

(Source: Bank of America )

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Definition and meaning of COLI :

COLI: Corporate owned life insurance

(Source: Bank of America )

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Definition and meaning of collateral assignment :

collateral assignment: Designating a creditor as the beneficiary of a life insurance policy as security for a loan.

(Source: Bank of America )

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Definition and meaning of collision insurance :

collision insurance: The part of an auto insurance policy that pays for the repair of a car after a crash.

(Source: Bank of America )

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Definition and meaning of class action lawsuit :

class action lawsuit: Legal action filed in court by one or more people on behalf of themselves and others having an identical interest in the alleged wrong.

(Source: Bank of America )

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Definition and meaning of bond insurance :

bond insurance:

(Source: Bank of America )

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Definition and meaning of beneficiary :

beneficiary: The person or financial instrument (for example, a trust fund), named in the policy as the recipient of insurance money in the event of the policyholder's death.

(Source: Bank of America )

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Definition and meaning of benefit :

benefit: Amount payable by the insurance company to a claimant, assignee, or beneficiary when the insured suffers a loss.

(Source: Bank of America )

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Definition and meaning of binding receipt :

binding receipt: A receipt given for the payment which accompanies an application for insurance. If the policy is approved, the payment "binds" the company to make the policy effective from date of receipt.

(Source: Bank of America )

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