Disability insurance is a public or private scheme which replaces (either in part of whole) income for workers with disabilities. Read more here.
Over the past 30 years, the tax treatment of insurance premiums paid to captive (i.e., subsidiary) insurance companies has generated considerable controversy and litigation. In this article, we propose a new definition of insurance that is motivated by a careful analysis of the issues raised in...
What Is The Definition Of A Recession? While there are no clear cut definitions of a recession and no government agencies that host the one true, undisputedly accepted definition of a recession, most economists andfinancial plannersagree upon one traditionally accepted definition of a recession. Mos...
Definition: Insurance refers to a contractual arrangement in which one party, i.e. insurance company or the insurer, agrees to compensate the loss or damage sustained to another party, i.e. the insured, by paying a definite amount, in exchange for an adequate consideration called as premium. ...
What is Insurance Definition? in·sur·ance noun /inˈSHo͝orəns/insurances, plural A practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium- many new borrower...
Definition of Insurance Reserves In the insurance industry,insurance reservesrefer to the funds set aside by insurance companies to fulfill their future responsibilities towards policyholders. These reserves are calculated to ensure that insurers have adequate funds to settle claims, pay out benefits, and...
Insurance underwriters assume the risk of a future event and charge premiums in return for a promise to reimburse the client an amount in the event damage or occurs. Investopedia / Theresa Chiechi Investment Banking Underwriters The underwriters of an investment bank often guarantee a specified amount...
Broadly speaking, each word means “to make sure of something.” But there are important differences in how each word is used in a sentence. The general rules forinsurevs.ensurevs.assureare as follows: Insure: to take out an insurance policy (on a car, house, etc.) ...
A reserve is the amount of money that an insurance company must set aside to fulfill future obligations to policyholders. Regulatory authorities monitor these reserves to ensure that policyholders will be adequately covered in accordance with the risks they have insured. Insuranceopedia Explains Reserv...
Definition of Insurance Expense Under the accrual basis of accounting, insurance expense is the cost of insurance that has been incurred, has expired, or has been used up during the current accounting period for the nonmanufacturing functions of a business. A manufacturer will report on its ...