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Insurance dictionary - B
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Insurance dictionary - B

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ARTICLES RELATED TO Insurance dictionary - B

Insurance dictionary - B: Insurance Business Glossary Dictionary - Percentage Participation

Definition and meaning of Percentage Participation :

Percentage Participation: A provision in a health insurance contract that the insurer and insured will share covered losses in agreed proportions. Also see Coinsurance.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Percentage Participation , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - P

Insurance dictionary - B: Insurance Business Glossary Dictionary - Pension Plan

Definition and meaning of Pension Plan :

Pension Plan: A plan established and maintained by an employer, group of employers, union or any combination, primarily to provide for the payment of definitely determinable benefits to participants after retirement.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Pension Plan , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - P

Insurance dictionary - B: Insurance Business Glossary Dictionary - Participating Insurance

Definition and meaning of Participating Insurance :

Participating Insurance: Insurance issued by an insurance company providing participation in dividend distribution.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Participating Insurance , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - P

Insurance dictionary - B: Insurance Business Glossary Dictionary - Partial Disability

Definition and meaning of Partial Disability :

Partial Disability: A benefit sometimes found in disability income policies providing for the payment of reduced monthly income in the event the insured cannot work full time and/or is prevented from performing one or more important daily duties pertaining to his occupation.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Partial Disability , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - P

Insurance dictionary - B: Insurance Business Glossary Dictionary - Participating Policy

Definition and meaning of Participating Policy :

Participating Policy: A life insurance policy under which the company agrees to distribute to policyholders the part of its surplus which its Board of Directors determines is not needed at the end of the business year. Such a distribution serves to reduce the premium the policyholder had paid. (See also: Policy dividend; Nonparticipating policy)

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Participating Policy , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - P

Insurance dictionary - B: Insurance Business Glossary Dictionary - Participating Policy

Definition and meaning of Participating Policy :

Participating Policy: One under which the policy owner is entitled to receive shares of the divisible surplus of the insurer. Such shares are commonly called dividends.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Participating Policy , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - P

Insurance dictionary - B: Insurance Business Glossary Dictionary - Pension Benefits

Definition and meaning of Pension Benefits :

Pension Benefits: A series of payments to be provided in accordance with the plan of benefits.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Pension Benefits , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - P

Insurance dictionary - B: Insurance Business Glossary Dictionary - Pension Benefit Guaranty Corporation, PBGC

Definition and meaning of Pension Benefit Guaranty Corporation, PBGC :

Pension Benefit Guaranty Corporation (PBGC): The Federal body responsible for administering the plan termination insurance program under ERISA.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Pension Benefit Guaranty Corporation, PBGC , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - P

Insurance dictionary - B: Insurance Business Glossary Dictionary - Occupational Hazards

Definition and meaning of Occupational Hazards :

Occupational Hazards: Occupations which expose the insured to greater than normal physical danger by the very nature of the work in which the insured is engaged, and the varying periods of absence from the occupation, due to the disability, that can be expected.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Occupational Hazards , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - O

Insurance dictionary - B: Insurance Business Glossary Dictionary - Nonprofit Insurers

Definition and meaning of Nonprofit Insurers :

Nonprofit Insurers: Persons organized under special state laws to provide hospital, medical, or dental insurance on a nonprofit basis. The laws exempt them from certain types of taxes.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Nonprofit Insurers , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - N

Insurance dictionary - B: Insurance Business Glossary Dictionary - Investment Income

Definition and meaning of Investment Income :

Investment Income: The income generated by a company's portfolio of investments (such as in bonds, stocks, or other financial ventures).

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Investment Income , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - I

Insurance dictionary - B: Insurance Business Glossary Dictionary - Named Perils

Definition and meaning of Named Perils :

Named Perils: Coverage in a property policy that provides protection against loss from only the perils specifically listed in the policy rather than protection from physical loss. Examples of named perils are fire, windstorm, theft, smoke, etc.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Named Perils , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - N

Insurance dictionary - B: Insurance Business Glossary Dictionary - Negligence

Definition and meaning of Negligence :

Negligence: Failure to use the care that a reasonable and prudent person would have used under the same or similar circumstances.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Negligence , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - N

Insurance dictionary - B: Insurance Business Glossary Dictionary - Net Amount at Risk

Definition and meaning of Net Amount at Risk :

Net Amount at Risk: The difference between a life insurance policy's death benefit and it's cash value amount.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Net Amount at Risk , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - N

Insurance dictionary - B: Insurance Business Glossary Dictionary - Net written premiums

Definition and meaning of Net written premiums :

Net written premiums: premium income retained by insurance companies, directly or through reinsurance, after payments made for reinsurance.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Net written premiums , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - N

Insurance dictionary - B: Insurance Business Glossary Dictionary - Net Premium

Definition and meaning of Net Premium :

Net Premium: The portion of the premium rate which is designed to cover benefits of the policy, but not expenses, contingencies, or profit. The term is also used to describe the portion of the premium remitted to the home office by an agent after deduction of the agent's commission.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Net Premium , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - N

Insurance dictionary - B: Insurance Business Glossary Dictionary - Lump-Sum Distribution

Definition and meaning of Lump-Sum Distribution :

Lump-Sum Distribution: Payment within one taxable year of the entire balance payable to an employee from a trust which forms part of a qualified pension or employee annuity plan on account of that person's death, separation from service or attainment of age 59.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Lump-Sum Distribution , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - L

Insurance dictionary - B: Insurance Business Glossary Dictionary - Loss Reserve Development

Definition and meaning of Loss Reserve Development :

Loss Reserve Development: how the latest estimate of an insurance company's claim obligations compares to an earlier projection.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Loss Reserve Development , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - L

Insurance dictionary - B: Insurance Business Glossary Dictionary - Loss of use

Definition and meaning of Loss of use :

Loss of use: value assigned to not having damaged property available, e.g., the cost of renting a replacement vehicle while one's car is being repaired

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Loss of use , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - L

Insurance dictionary - B: Insurance Business Glossary Dictionary - Loss Expense - Unallocated

Definition and meaning of Loss Expense - Unallocated :

Loss Expense - Unallocated: Salaries and other expenses incurred in connection with the operation of a claim department of an insurance carrier which cannot be charged to individual claims.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Loss Expense - Unallocated , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - L

Insurance dictionary - B: Insurance Business Glossary Dictionary - Loss Payable Clause

Definition and meaning of Loss Payable Clause :

Loss Payable Clause: Means of protecting a mortgagee's interest in property by directing the insurer to make a loss payment to the mortgagee in the event of a loss.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Loss Payable Clause , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - L

Insurance dictionary - B: Insurance Business Glossary Dictionary - Loss Prevention

Definition and meaning of Loss Prevention :

Loss Prevention: Any measure which reduces the probability or frequency of a particular loss but does not eliminate completely all possibility of that loss

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Loss Prevention , Insurance Business, Insurance Business Sitemap, Insurance, Insurance Sitemap, Insurance Dictionary - L