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The following are fundamental terms that are commonly used in rate making. A rate "is the price per unit of insurance for each exposure unit, which is the unit of measurement used in insurance pricing". The exposure unit is used to establish insurance premiums by examining parallel groups. [1]
It is noted that, by an assignment in writing collateral to a first priority statutory ship mortgage (the "Mortgage"), [the shipowner] (the "Owner") assigned absolutely to [the bank] (the "Assignee") the benefit of this policy of insurance and all benefits of this policy, including all claims of any nature (including return of premiums) under this policy.
Otherwise, it is called unbalanced assignment. [1] If the total cost of the assignment for all tasks is equal to the sum of the costs for each agent (or the sum of the costs for each task, which is the same thing in this case), then the problem is called linear assignment.
Unlike whole or universal life insurance, which builds cash value and comes with higher premiums, term insurance offers pure protection for a set period at a much lower cost. As Heslin says ...
The typical structured settlement arises and is structured as follows: An injured party (the claimant) comes to a negotiated settlement of a tort suit with the defendant (or its insurance carrier) pursuant to a settlement agreement that provides as consideration, in exchange for the claimant's securing the dismissal of the lawsuit, an agreement by the defendant (or, more commonly, its insurer ...
The cost of Medicare supplement insurance, also known as Medigap, varies depending on the plan provider and the coverage options. ... We may use a few terms in this article that can be helpful to ...
The second is the healthcare provider, a term that encompasses not only physicians but also hospitals, physical therapists, emergency rooms, outpatient facilities, and other entities delivering medical services. The third and final party is the payor, typically an insurance company, which facilitates reimbursement for the services rendered.
For example, if your coverage limit was up to $200,000, but the cost of rebuilding your home is $250,000, an extended replacement cost endorsement that covers up to 25 percent more than the policy ...