Category: L

Court action’s decision to recover or compensate damages for less than or equal money than the law allows. Such decisions often happen quicker than full recovery.

This term is used to refer to a contract with low limits and limited forms, specifically in health insurance. These contracts state the specific occurrences where payment will be made

self-contained departments defining the business or industry structure. Each department manager control over department’s affairs and employees. Accountability goes upwards from the bottom along the chain of command, while authority travels downwards

Scheduled cargo and/or passenger service on a specific trade route under set rates and terms under this type of agreement among two or more shipping companies. Also known as shipping conference.

Stock exchange public trading company with quoted shares. Also known as quoted company.

Livestock is insured using this commercial form. Farm coverage often carries this as an add-on.

Company’s capital in-use that (1) is not equity capital, (2) earns fixed rate interest, not dividends, 3) irrespective of the company’s financial state must be repaid within a specified period, .

A deposit made that is held on to until its maturity date by the bank. Refer to a floating rate or negotiable certificate of deposit.

Consumer identifier, recognizable and distinctive. Solely for identifying an organization, not a product, it is a graphic design, stylized name, unique symbol, or other device. Also known as logotype. Appearing on all

An advantage or protection is secured by this type of transaction against a possible price increase of a traded item, like a commodity, financial instrument, security, and the like. These will be

Activities of formulating a long-term plan. Future needs estimating typically is an extrapolation of present or known needs. The extrapolation for achieving interim goals starts with current status, projected status roadmap, includes

Property damage payout due to a homeowners association or property owners group as the insured’s portion of the total amount owed due. This charge-type coverage is offered by certain homeowners insurance policies.

Income loss on a company’s financial statement accounting for labor strike’s financial impact.

Future claims reduction as a loss prevention method by the insurer’s staff person authorized to do this.

More ductile and malleable steel type. Can be made into thin sheets suitable for autobody panels. Contains 0.005 to 0.3 percent carbon, and less than 0.6 percent manganese. that

When the economy suffers a downturn, this is a visual display of society’s costs. Represents output loss resulting from growth rate tied to the real gross domestic product slowing down.