A bond that is backed by policyholder loans against life insurance policies. The underlying loans will be repaid either by...

In relation to an insurance contract, it is the amount of money that an individual or business (known as policyholders/...

The actual or expected cost that an insurer would incur as indemnity payments and allocated loss adjustment expenses (or the...

The actual or expected cost that an insurer would incur as indemnity payments and allocated loss adjustment expenses (or the...

It stands for premium deficiency reserve; an amount (provision or reserve) that an insurance company sets aside, on its the...

An amount (provision or reserve) that an insurance company sets aside, on its the balance sheet, in addition to unearned...

An amount that an insurance company sets aside, on its the balance sheet, in addition to unearned premiums in connection...

The amount that an insured has to pay towards making a claim. The policy excess is clearly set out in...

An insurance contract that involves direct participation of policyholders whereby they are allowed to share in the profits in the...

Pro rata is Latin for proportionate allocation; in insurance, pro rata involves the process of determining the amount of premium...