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For example, when a claim is first reported, a $100 payment might be made, and a $900 case reserve might be established, for a total initial reported amount of $1000. However, the claim may later settle for a larger amount, resulting in $2000 of payments from the insurer to the claimant before the claim is closed.
For insurance, the loss ratio is the ratio of total losses incurred (paid and reserved) in claims plus adjustment expenses divided by the total premiums earned. [1] For example, if an insurance company pays $60 in claims for every $100 in collected premiums, then its loss ratio is 60% with a profit ratio/gross margin of 40% or $40.
[45] [46] Another similar definition (described by Taqi Usmani) is that riba al-jahiliya was a kind of loan where the borrower was not charged any additional amount above the principal, unless they could not repay when the loan was due, in which case they were charged an additional amount, but not necessarily double or triple the principal.
The amount added to retained earnings is generally the after tax net income. In most cases in most jurisdictions no tax is payable on the accumulated earnings retained by a company. However, this creates a potential for tax avoidance, because the corporate tax rate is usually lower than the higher marginal rates for some individual taxpayers ...
The following table compares the number of languages which the following machine translation programs can translate between. (Moses and Moses for Mere Mortals allow you to train translation models for any language pair, though collections of translated texts (parallel corpus) need to be provided by the user.
Literal translation, direct translation, or word-for-word translation is the translation of a text done by translating each word separately without analysing how the words are used together in a phrase or sentence. [1] In translation theory, another term for literal translation is metaphrase (as opposed to paraphrase for an analogous translation).
Loss reserving is the calculation of the required reserves for a tranche of insurance business, [1] including outstanding claims reserves.. Typically, the claims reserves represent the money which should be held by the insurer so as to be able to meet all future claims arising from policies currently in force and policies written in the past.
Sources disagree over the definition of these two contracts. "Often the same words are used by different banks and have different meanings," [190] and sometimes wadiah and amanah are used interchangeably. [191] Regarding Wadiah, there is a difference over whether these deposits must be kept unused with 100 percent reserve or simply guaranteed ...