Archive

22 May Catastrophe Reincurance

This is a form of insurance written on an excess-of-loss basis to improve the spread of risk against unknown liability concentrations, subject to a single occurrence. The parties settle on a deductible amount to reduce the probable frequency of loss to an acceptable level to...

Read More

22 May Casualty Insurance

A general class of insurance covering liability resulting from accidents and some types of property insurance. It includes, among other coverages: automobile, workers compensation, employers liability, general liability, plate glass, theft and personal liability. Casualty insurance excludes life, fire and marine insurance. However, as ordinarily...

Read More

22 May Carrier

The insurance company or other party legally bound to pay losses. The carrier may be organized as a company, either stock, mutual, or reciprocal, or as an association of underwriters such as Lloyds....

Read More

22 May Business Insurance (Life)

Insurance concerned primarily with the protection of an insured business or vocation. Business insurance protects a business against the loss of its valuable lives or key men; stabilizes the business through the establishment of better credit relations; and provides a practical plan for the retirement...

Read More