Definition and meaning of M&C :

M&C: See Manufacturers and Contractors Liability Insurance. (LA)

(Source: InsWeb)

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Definition and meaning of C-SHARE VARIABLE ANNUITIES :

C-SHARE VARIABLE ANNUITIES: A form of variable annuity contract where the contract holder pays no sales fee up front or surrender charges. Owners can claim full liquidity at any time.

(Source: Insurance Information Institute )

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Definition and meaning of Manufacturers and Contractors Liability Insurance, M&C :

Manufacturers and Contractors Liability Insurance (M&C): A form of Premises and Operations Liability Insurance designed to cover manufacturing or contracting risks. The basis of premiums for this coverage is the payroll. (LA)

(Source: InsWeb)

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Definition and meaning of CRIME INSURANCE :

CRIME INSURANCE: Term referring to property coverages for the perils of burglary, theft and robbery.

(Source: Insurance Information Institute )

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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 Compulsory Insurance :

Compulsory Insurance: Any form of insurance which is required by law.

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

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Definition and meaning of Concurrent Insurance :

Concurrent Insurance: Two or more policies with the same conditions and coverages that cover the same interest in the same property. If an insured has two or more Property Insurance policies, he will usually not be insured properly if the policies are not concurrent (similar). (PR)

(Source: InsWeb)

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Definition and meaning of Casualty Insurance :

Casualty Insurance: Insurance concerned with the insured's legal liability for injuries to others or damage to other persons' property; also encompasses such forms of insurance as plate glass, burglary, robbery and workers' compensation.

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

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Definition and meaning of Certificate of Insurance :

Certificate of Insurance: A statement of coverage issued to an individual insured under a group insurance contract, outlining the insurance benefits and principal provisions applicable to the member.

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

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Definition and meaning of Cost of Insurance Charge :

Cost of Insurance Charge: Another term to describe the charge for the pure insurance protection element of a life insurance contract. It is also known as the Mortality Charge. (LI)

(Source: InsWeb)

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Definition and meaning of Casualty Insurance :

Casualty Insurance: That type of insurance that is primarily concerned with the legal liability for losses caused by injury to persons or damage to the property of others. It also includes such diverse forms as Plate Glass Insurance, Crime Insurance, Boiler and Machinery Insurance, and Aviation Insurance. Many Casualty insurers also write surety bonds. Casualty insurers write forms of insurance not considered Property forms. Contrast with Property Insurance. (LA)

(Source: InsWeb)

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Definition and meaning of Credit Life Insurance :

Credit Life Insurance: A group life insurance contract whereby a creditor is protected in the event of death of the insured prior to the indebtedness being paid in full. (LI)

(Source: InsWeb)

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Definition and meaning of Completed Operations Insurance :

Completed Operations Insurance: A form of insurance issued particularly to various types of contractors. It covers a contractor's liability for accidents arising out of jobs or operations that he has completed. See also Products-Completed Operations Insurance. (LA)

(Source: InsWeb)

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Definition and meaning of Credit Insurance :

Credit Insurance:  Insurance on a debtor in favor of a creditor to pay off the balance due on a loan in the event of the death or disability of the debtor. Liability Insurance for abnormal loss from bad debts. (LI,H)

(Source: InsWeb)

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Definition and meaning of Captive Insurance Company :

Captive Insurance Company: A company owned solely or in large part by one or more non- insurance entities for the primary purpose of providing insurance coverage to the owner or owners.

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

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Definition and meaning of Captive Insurer :

Captive Insurer: Insurance company established and owned by a parent firm in order to insure its loss exposures while reducing premium costs, providing easier access to a reinsurer, and perhaps easing tax burdens. See also Association captive; Pure captive.

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

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Definition and meaning of Collision Insurance :

Collision Insurance: Protection against loss resulting from any damage to the policyholder's car caused by collision with another vehicle or object, or by upset of the insured car, whether it was the insured's fault or not.

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

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Definition and meaning of Classified Insurance :

Classified Insurance: Life or Health Insurance on risks which do not meet the standards for the regular manual rate. See also Substandard. (LI,H)

(Source: InsWeb)

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Definition and meaning of Credit Health Insurance :

Credit Health Insurance: A form of health insurance on a borrower, usually under an installment purchase agreement. The benefits cover the obligations of the borrower and are payable to the creditor.

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

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Definition and meaning of Currently Insured :

Currently Insured: Status of a covered person under the Old-age, survivors, and Disability Insurance (OASDI) program who has at least six quarters of coverage out of the last thirteen quarters, ending with the quarter of death, disability, or entitlement to retirement benefits.

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

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