By Harvey W. Rubin Ph.D.
A helpful quick-reference fact-finder for brokers, agents, actuaries, underwriters, and traditional shoppers, this instruction manual defines nearly 4,500 key phrases utilized in the assurance undefined. Definitions practice to lifestyles, overall healthiness, estate, and casualty coverage, in addition to to house owners' and tenants' coverage, expert legal responsibility assurance, pension plans, and person retirement debts. buy of policies constitutes an incredible lifetime expenditure for the typical client, and a huge functionality of this ebook is to assist non-experts comprehend what they want and precisely what they're paying for after they buy coverage. writer Harvey Rubin, a Chartered existence Underwriter and Chartered estate and Casualty Underwriter, opens with an summary of the coverage that issues out the numerous monetary tools to be had from insurance firms to companies, execs and common shoppers. He devotes the rest of this booklet to definitions, descriptions, and examples that translate technical coverage terminology into transparent, understandable English. here's an enlightening and available enterprise advisor that merits a spot on each domestic bookshelf. the recent York occasions calls this publication ". . . worthwhile, quite for worker gain and retirement issues."
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Extra resources for Dictionary of Insurance Terms
See also INDEPENDENT ADJUSTER. ADJUSTER, AVERAGE see AVERAGE ADJUSTER. ADJUSTER, INDEPENDENT see INDEPENDENT ADJUSTER. ADJUSTER, PUBLIC see PUBLIC ADJUSTER. ADJUSTER, STAFF employee of an insurance company who assesses insurance coverage for property claimed to be damaged and determines the insurance proceeds that might be payable for the claim. A fee adjuster works for himself and does claims adjustments on a fee basis. ADJUSTMENT BUREAU company organized with the business objective of providing claims adjustment services to insurance companies that do not have an internal claims department.
An AIDS exposure may arise because of negligent acts of employees or circumstances occurring on a business' property: (a) An AIDS exposure could result in the event that an AIDS-infected employee contaminates a product and/or service being provided to a customer or fellow employee, and the customer or fellow employee brings suit against the business. For example, the infected employee may have a cut finger and drops of his or her blood may accidentally become mixed with the food being consumed by a customer or fellow employee.
AGENT'S AUTHORITY authority derived from an agent's contract with an insurance company. See also APPARENT AGENCY (AUTHORITY). AGENT'S BALANCE statement showing the amount of money owed the agent by the insurance company, according to the contract he or she has with the insurance company. AGENT, SPECIAL see SPECIAL AGENT. AGENT'S QUALIFICATION LAWS legislation establishing the minimum education and experience level required by the state as a prerequisite for a person to become a licensed AGENT. See also LICENSE; LICENSING OF AGENTS AND BROKERS.