Term
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Definition
| Group of policies with a common characteristic (such as geography, type of coverage or producer). Also called "a book of business". |
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Term
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Definition
| An entity that obtains money from one source and redirects it to another |
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Term
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Definition
| An entity with certain rights under the terms of an insurance policy |
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Term
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Definition
| Persons or corporations having a duty to act primarily for another's benefit |
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Term
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Definition
| Indicates how often a loss occurs or is expected to occur. |
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Term
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Definition
| Dollar amount of damage that results or could result from the exposure to loss. |
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Term
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Definition
| The promise of one party to hold another harmless for any liability arising from an activity. |
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Term
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Definition
| People who are uncomfortable with assuming the uncertainty and consequences of unknown outcomes. The opposite is a risk taker |
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Term
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Definition
| Customer expectations about a business, industry or product. |
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Term
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Definition
| Customer Expections about a particular situation or circumstance |
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