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Provision for Unexpired Risks

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

Longevity Risk

The danger or possibility that a portfolio of an insurance firm, pension scheme or any annuity-paying institution will suffer a...

Mortality Risk

The danger or possibility that a portfolio of a life insurance company will suffer a drainage of resources from mortality...

Experience Rating

A rating method in insurance that takes into consideration, for establishing a basis of comparability, the amount of loss experienced...

Qualifying Insurance Policy

In accounting, it is an insurance policy is issued by an insurance firm not related (i.e., not a related party)...

Underwriting Discipline

In connection with underwriting in insurance, it is the process undertaken by an insurer whereby it properly evaluates the risk...

Non-Insurable Risk

The risk that cannot be covered by an insurance contract due to efficiency reasons. Insurance firms usually don't offer to...

Insurance Risk

The risk, other than financial risk, that is transferred from the holder of an insurance contract to the issuer. This...