Category: L

A broker-written document describing a prospective risk that is given to underwriters to decide on their willingness to insure what fraction of risk described.

Bank and customer arrangement to cover checking account or credit card limit overruns by allowing the back to withdraw funds from another of the customer’s account like a savings account.

Independent private or public standards or testing organization that assesses goods and materials based on specific criteria and gives its mark, known as listing mark, to be carried on qualifying items as

A family uses this dwelling as a type of housing.

City, town, county, or state level government. The administrative body for this small geographic jurisdiction. Electing officials, enacting taxes, and doing many things a national government can do is within its jurisdiction.

Made while logging activities in a log book, this is the specific calendar date and/or time that the entry was posted.

Used as a reference for floating rate payments, this is the interest rate midway between LIBOR and LIBID rates.

A call option is a long position taken as an options strategy with a put option. Contrast to short straddle. Also known as bull straddle.

Contracts over a period of one year in length with construction performance related activities. Residential and commercial construction contracts are typical for this type.

Damages resulting from a pending lawsuit are an example of a potential liability that is probable and reasonably estimable forced to use this provision.

produce a reinsurance rate as a factor of pure loss costs.

Absentee hours tallied divided by Normal hours constant, typically 35 hours, times 100. Expressed as a percentage. Illness, injury, any medical problem, child care and other family and personal obligations, maternity or

Employee autonomy over how to do a job, or control over work conditions is low in this work setting.

A contract requiring no cost breakdown. The principal, either customer or owner, agrees to pay a specified amount for work a contractor completes.

Periodic but anomalous cooling of the surface waters of eastern equatorial Pacific ocean (off South American coast), causing the opposite effects experienced during El Ninio. Typical effects include a cooling in the

Experienced as a single enterprise system by its users. Geographically dispersed, solidly interconnected and varied computer systems.

Denotes stock with $5 billion or more in market capitalization. A US term. Typically a large publicly held bluechip firm. Such firms are seen as major drivers of the US economy, and

This fee is either flat-rate or percentage of the amount due. An account holder not making an account payment by the stated due date is assessed this monetary charge.

Typical effect seen that lower prices stimulate demand and higher prices dampen it. Observation that, as a general rule, the demand for a product varies inversely with its price. Contrast to Giffen

Retail promotion scheme allowing the customer to leave a deposit for time-limited storage at the store of customer-picked items not fully purchased until the customer returns to pay-in-full. T