An annuity is a contract between an insured and an insurance firm that aims to meet the insured's retirement and...

In relation to insurance, it constitutes the direct costs an insurer incurs to "acquire" the premium— such as fees and...

It stands for allocated loss adjustment expenses; as an item, it is part of loss adjustment expenses (LAEs). It constitutes...

As an item, it is part of loss adjustment expenses (LAEs). It constitutes expenses that are directly attributed and allocated...

The increasing tendency of persons with an above average likelihood of loss, or propensity to incur damages, to buy or...

The increasing tendency of persons with an above average likelihood of loss, or propensity to incur damages, to buy or...

The increasing tendency of persons with an above average likelihood of loss, or propensity to incur damages, to buy or...

A type of reserve that an insurance company (insurer) is required to create as a cushion against losses (generally, fluctuations)...

In insurance and insurance accounting, granularity reflects the level of detail at which an actuary makes estimates (specifically, in relation...

A type of insurance policy under which the insured receives a certain percent of the death benefit (usually 25%) on…