UNDERWRITING AND LIABILITY RISK
Exposure to loss from inappropriate selection and approval of insurance risks.
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Exposure to loss from inappropriate selection and approval of insurance risks.
Maximum amount of loss exposure insured by the insurer.
The process where a large item is broken into its smaller parts.
Account holding income recognised to pay insurance premiums.
Cheque still passing through a clearing cycle. See nucleated effects.
Firm connecting sellers and buyers but does not own or store merchandise.
The appointed overseer of the trust acting on behalf of the trust.
Quantity that would be sold with no constraints like delivery or production.
Part of the premium applying to a reinsured part of the policy.
World’s largest not-for profit organisation for safety testing products with a global recognition and acceptance.
Person working in a job that they are over qualified for.
Situation where an item’s cost is below the projected cost.
Term referring to conducting the b business of insurance.
Benefit without a schedule of benefit that will pay out to a set amount.
1. General. Document that is signed at the end to signify agreement , correctness or truth of contents. 2. Banking. Evaluating risk for lending by analysing loan contract details. 3. Insurance. Evaluation
Items in seller’s inventory where the buyer’s order will be taken from.
Leadership style based on clear setting of objectives and goals and use of rewards and punishment to encourage goal compliance.
Effect of health occurring when a toxic substance or a pollutant moves from parents to off-spring.
1. Accounting. Income received before a service is provided or a good is sold.2. Taxation. Income from means not arising from a person’s efforts.
Deducted amount from a sum and classed as interest in advance.