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Banking

Protection Buyer

A party to a credit default swap (or any other type of swap) that pays the other counterparty (known as...

Protection Seller

A party to a credit default swap (or any other type of swap) that takes on the credit risk of...

Fulfillment Cash Flows

According to international accounting standards, this refers to the risk-adjusted present value of an insurer's rights on and obligations to...

FCF

It stands for fulfillment cash flows; according to international accounting standards, this refers to the risk-adjusted present value of an...

Onerous Contract

An insurance contract is deemed to be onerous (loss-laden or loss-making) at initial recognition when the net cash flows associated...

Insurance Contract

A contract under which an insurance provider (the issuer/ insurance company) accepts significant insurance risks from, and to the benefit...

Un-Insurable Risk

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

Non-Insurable Risk

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

Insurable Risk

The risk that can be covered by an insurance contract. It falls within the set of insurance risks that constitutes...

Insured Risk

The risk that is covered by an insurance contract for a specific period. In other words, it is the subject...