Definition and meaning of OL&T :

OL&T: See Owners, Landlords, and Tenants Liability Insurance. (LA)

(Source: InsWeb)

Also see these pages: OL&T , Insurance Liability, Insurance Liability Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - O

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Definition and meaning of Cross liability clause :

Cross liability clause: obligates an insurer to protect each insured separately.

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

Also see these pages: Cross liability clause , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - C

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Definition and meaning of Antiselection :

Antiselection: The tendency of persons who present a poorer-than-average risk to apply for, or continue, insurance to a greater extent than do persons with average or better-than-average expectations of loss.

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

Also see these pages: Antiselection , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - A

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Definition and meaning of SEGLI :

SEGLI: Service Employees Group Life Insurance, which is issued to members of the armed forces while they are in the service. After separation it is convertible to individual policies from certain private insurers. (LI)

(Source: InsWeb)

Also see these pages: SEGLI , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - S

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Definition and meaning of Net Rate :

Net Rate: (1) See the third definition of Net Premium for the definition applicable to participating Life Insurance policies. (2) In a nonparticipating policy, the rate book rate. (LI)

(Source: InsWeb)

Also see these pages: Net Rate , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - N

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Definition and meaning of Loss Payee, Lien holder :

Loss Payee/Lien holder:  A person or entity with a legally secured insurable interest in another's property, usually a financial institution that loaned money to buy a car. The car is the loan collateral. If the auto is damaged in an accident, loss payments will be made to you and to the loss payee on your policy.

(Source: CarInsurance.com )

Also see these pages: Loss Payee, Lien holder , Car Insurance, Car Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - L

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Insurance companies may be classified as Life insurance companies, who sell life insurance, annuities and pensions products. Non-life or general insurance companies, who sell other types of insurance. In most countries, life and non-life insurers are subject to different regulations, tax and accounting rules. The main reason for the distinction between the two types of company is that life business is very long term in nature — coverage for life assurance or a pension can cover risks over many decades. By contrast, non-life insuranc ...

See also:

Insurance, Insurance - Principles of insurance, Insurance - Indemnification, Insurance - How an insurance company makes money, Insurance - Determination of rate structures, Insurance - Gambling analogy, Insurance - History of insurance, Insurance - Types of insurance, Insurance - Types of insurance companies, Insurance - Life insurance and saving, Insurance - Financial viability of insurance companies, Insurance - Controversies, Insurance - Insurance insulates too much, Insurance - Complexity of insurance policy contracts, Insurance - Redlining, Insurance - Health insurance, Insurance - Dental insurance, Insurance - Insurance Patents, Insurance - The insurance industry and rent seeking, Insurance - Insurance in Blackjack, Insurance - Glossary, Insurance - Quote, Insurance - Lists

Read more here: » Insurance: Encyclopedia II - Insurance - Types of insurance companies

Early methods of transferring or distributing risk were practiced by Babylonian traders as long ago as the 2nd millennium BCE. The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c. 1750 BC, and practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the lender's guarantee ...

See also:

Insurance, Insurance - Principles of insurance, Insurance - Indemnification, Insurance - How an insurance company makes money, Insurance - Determination of rate structures, Insurance - Gambling analogy, Insurance - History of insurance, Insurance - Types of insurance, Insurance - Types of insurance companies, Insurance - Life insurance and saving, Insurance - Financial viability of insurance companies, Insurance - Controversies, Insurance - Insurance insulates too much, Insurance - Complexity of insurance policy contracts, Insurance - Redlining, Insurance - Health insurance, Insurance - Dental insurance, Insurance - Insurance Patents, Insurance - The insurance industry and rent seeking, Insurance - Insurance in Blackjack, Insurance - Glossary, Insurance - Quote, Insurance - Lists

Read more here: » Insurance: Encyclopedia II - Insurance - History of insurance

About four out of ten reported psychic experiences involve some seeming awareness of the future. The term premonition is in general use, and the more clinical word precognition, ('before knowing'), tends to be used by parapsychologists. In descending order of frequency, premonitions come in the form of dreams, waking thoughts, waking imagery and sleep-onset, (hypnagogic), imagery.

Read more here: » Meaning of dreams: Precognitive dreams and premonitions

Definition and meaning of Insurance :

A contract whereby an insurer promises to pay the insured a sum of money or some other benefit upon the happening of one or more uncertain events in exchange for the payment of a premium. There must be uncertainty as to whether the relevant event(s) may happen at all or, if they will occur (e.g. death) as to their timing.

(Source Lloyd's )

Also see these pages: Insurance , Insurance, Insurance Sitemap, Insurance Dictionary - I

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Definition and meaning of General Aggregate Limit(FSA :

General Aggregate Limit(FSA): A Commercial General Liability limit that applies to all damages paid for bodily injury, property damage, personal injury, advertising injury, and medical expenses, except damages included in the products-completed operations hazard. (PR,LA)

(Source: InsWeb)

Also see these pages: General Aggregate Limit(FSA , Insurance Liability, Insurance Liability Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - G

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The present Lloyd's building was designed by architect Richard Rogers and was completed in 1986. It stands on the site of the old Roman Forum. In the great Underwriting Room of Lloyd's stands the Lutine Bell, which used to be struck when the fate of a ship "overdue" at its destination port became known. If the ship were safe, the bell would be rung twice: if it had sunk, the bell would be rung once. (This had the practical purpose of immediately stopping the sale or purchase of "overdue" reinsurance on that vessel.) Now it is only run ...

See also:

Lloyd's of London, Lloyd's of London - Quick facts, Lloyd's of London - History, Lloyd's of London - Structure, Lloyd's of London - Businesses at Lloyd's, Lloyd's of London - Underwriting ventures, Lloyd's of London - Capital backing, Lloyd's of London - Types of policies, Lloyd's of London - Miscellaneous

Read more here: » Lloyd's of London: Encyclopedia II - Lloyd's of London - Miscellaneous

Vault

• To dream of a vault, denotes bereavement and other misfortune. To see a vault for valuables, signifies your fortune will surprise many, as your circumstances will appear to be meagre. To see the doors of a vault open, implies loss and treachery of people whom you trust.

Source: 10 000 Dream Interpretations, by Gustavus Hindman Miller

(See also: Dream Archives, Meaning of Dreams, Dream Interpretation, Dream Dictionary, Dream Dictionary - Vault , Meaning of Dreams about Vault , Dream Interpretation Vault )

For more dictionary entries, see » Insurance Liability Dictionary

Definition and meaning of Mini Tail :

Mini Tail: Automatic 60-day extended reporting period allowing for the making of claims after expiration of a "claims-made" liability policy. See also Extended Reporting Period. (LA)

(Source: InsWeb)

Also see these pages: Mini Tail , Insurance Liability, Insurance Liability Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - M

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Definition and meaning of Midi Tail :

Midi Tail: Automatic five-year extended reporting period allowing for the making of claims after expiration of a claims-made" liability policy, but only applies to claims arising from occurrences which were reported no later than 60 days after the end of the policy. See also Extended Reporting Period. (LA)

(Source: InsWeb)

Also see these pages: Midi Tail , Insurance Liability, Insurance Liability Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - M

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Definition and meaning of Manual Excess :

Manual Excess: The premium for an amount of insurance in excess of the basic limit of liability. This premium is determined by referring to a table of rate factors which are multiplied by the manual rate in order to arrive at a premium for the higher limit selected. (LA)

(Source: InsWeb)

Also see these pages: Manual Excess , Insurance Liability, Insurance Liability Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - M

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Definition and meaning of Mature Policies :

Mature Policies: Uninterrupted claims-made coverage continuously in effect for at least five years, and no longer eligible for rating credits given on immature policies. (LA)

(Source: InsWeb)

Also see these pages: Mature Policies , Insurance Liability, Insurance Liability Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - M

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Definition and meaning of Maxi Tail, or Full Tail :

Maxi Tail, or Full Tail: Unlimited extended reporting period allowing for making claims after expiration of a "claims-made" liability policy. See also Supplemental Extended Reporting Period. (LA)

(Source: InsWeb)

Also see these pages: Maxi Tail, or Full Tail , Insurance Liability, Insurance Liability Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - M

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Definition and meaning of Mobile Equipment :

Mobile Equipment: A term defined in General Liability policies as land vehicles, including machinery and apparatus attached thereto, whether or not self-propelled, and (1) not subject to motor vehicle registration, or (2) used exclusively on the insured's premises, or (3) designed principally for use off public roads, or (4) designed or maintained for the sole purpose of providing mobility for permanently attached equipment such as cranes, loaders, pumps, generators, or welding equipment. (LA)

(Source: InsWeb)

Also see these pages: Mobile Equipment , Insurance Liability, Insurance Liability Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - M

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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)

Also see these pages: Manufacturers and Contractors Liability Insurance, M&C , Insurance Liability, Insurance Liability Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - M

For more dictionary entries, see » Insurance Liability Dictionary