Which Statement Best Describes Agreement As It Relates To Insurance Contracts

Compensation for employees in excess – specific and/or aggregated compensation insurance on the worker surplus, which is written by means of a foreclosure point or a self-insured deduction. Would a loss resulting from any of the following be eligible for the driver`s coverage of the accident? A couple acquires life insurance for their newborn. They are concerned about what will happen to the policy if one of them is unable to continue to pay premiums because of death or disability. Which “Political Rider” should recommend his agent? The Early Warning System is a system developed by insurance industry regulators to identify practices and risk trends that contribute to systemic risks by measuring the insurer`s financial stability. Mortgage insurance – a form of life insurance payable after the death of the insured/Mortgagors for the loss of credit payments to a third-party lender/mortgage lender. Right – a request from the insured to transfer the payment due to losses covered by the insurance contract. Written premium – the contractual amount that the reporting company invoiced the policyholder for the actual period of the contract on the basis of the expectation of risks, insurance benefits and expenses related to coverage by the terms of the insurance contract. Fronting – an agreement whereby a direct insurer acts as an insurer of registration by issuing a policy, but then passes the full risk on to a reinsurer for a fee. Often, the front insurer has the right to operate in a country or country where the risk is, but the reinsurer is not. Captive Insurer – an insurance company created by a parent company to insure the parent company`s exposures. Undeserved premium reserve – all premiums (fees) collected for coverages that extend beyond the billing date; as a liability on the balance sheet. Lloyd`s of London – Association offers membership in various unions organized by wealthy individuals to write insurance for a certain danger. Business owners` policy – commercial insurance generally for real estate insurance, liability and business cessation insurance.

NFIP – National Flood Insurance Program – Flood insurance and flood management for private and commercial real estate, managed in accordance with the National Flood Act of 1968. Promotes the participation of private insurers through a flood insurance pool. FAIR Plan – Fair Access to Insurance Requirements – State pools that offer insurance to homeowners who cannot purchase non-life insurance through traditional means. Unknowingly about the insurance of a wealth insurance risk agent – a person who sells insurance policies, sells services or negotiates, either on behalf of a business or independently. Extra Expense Insurance – a kind of right insurance for extraordinary expenses related to service interruptions as a backup generator in case of power outage.