Define accident insurance. accident insurance synonyms, accident insurance pronunciation, accident insurance translation, English dictionary definition of accident insurance. n. Insurance against bodily injury or death because of accident. American Herit
Direct loss is the damage inflicted, such as destruction by fire, whereas consequential loss is the indirect consequence of those damages. In other words, the direct loss would be damage to the building and equipment, whereas the consequential loss could be the losses created by the business hav...
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Definition of Individual Insurance Individual Insurance insurance that is offered to individuals rather than groups. Related Terms: Coinsurance effect Refers to the fact that the merger of two firms decreases the probability of default on either firm's debt. Federal Deposit Insurance Corporation (...
where the fifth equality is due to the definition of 𝑞𝑖(𝑦|𝑥) and the inequality holds for any 𝑘≥1 because 𝑞𝑖(𝑦𝑖+1|𝑥𝑖+1)=∑𝑘𝜋𝑘𝑝𝑓̂𝑘𝑖(𝑦𝑖+1|𝑥𝑖+1). Also, we have ==𝐸∫⎡⎣⎢∏𝑖=1𝑁𝑝𝑓(𝑦𝑖+1|𝑥...
Section 7 computes loss ratio forecasts and backtests to check the predictive performance of our models on historical data using a rolling window scheme. The last section concludes. 2. Previous Research Various hypotheses have been developed to explain underwriting cycles in the property/casualty ...
Since there isn't an industry-standard definition of full coverage, some insurance providers may add roadside assistance,gap insuranceand rental reimbursement to your policy if you request full coverage, so work closely with your agent and read your paperwork carefully to avoid paying for more cover...
Related Terms Underwriter Risk Premium Policyholder Risk Class Direct Property Exposures Segregation of Exposure Units Written Exposure Earned Exposure In-Force Exposure Related Reading Expense Ratio DefinitionExtended Replacement Cost Definition Share this term...
Financial Covenant Debt of any Person means Indebtedness of the type specified in clauses (a), (b), (d), (e), (f) and (h) of the definition of “Indebtedness,” non-contingent obligations of the type specified in clause (c) of such definition and Guaranty Obligations of any of the...
The coinsurance clause will only be in effect at the event ofpropertyloss. During a loss, the insurance limit and the required amount to be used for insurance based on the coinsurance percentage are compared and must have a ratio equal to or greater than one, else, a penalty will be given...