The level of closeness to a certain pattern, objective or standard.

A proper analysis and identification of the information/ assumptions which form the basis of any plan. It is used to check if any changes need to be made.

A conscious or subconscious mode of a person, which evaluates how they might act in a specified situation.

A discount given to any policy holder if they decide to pay all of their premium for the year in advance.

A term commonly used to describe a burglary that was caused at the premises of the insured party.

More dividends are paid out to shareholders as their value of stock increases.

A situation in which the claim launched by the plaintiff hasn’t fully grown to become an actual claim.

A bond that has been issued by the government. Generally, it is already backed up by several securities of the government which are set in escrow.

The excess amount paid on the shares that are outstanding of the common stock, held by a company.

Those who have invested are liable to receive payment before others, though they can forego their shareholder privileges.

A loan that is given by the insured party to the insurer.

Costs that are incurred before income has been reported on the balance sheet.

A legally binding agreement between a couple, stating how the assets would be divided if the marriage fails to last.

A clause included in certain policies, which grants the beneficiary a refund on the face amount of their policy, including all of the premiums that they have paid so far.

A notice issued in order to provide the exact date on which a premium will become payable.

A portion of any publication which is known to attract more attention as compared to other portions. Similarly, the pricing of the ‘preferred position’ is more than the standard charges.

A receipt given out to a policy holder, by the insurer or an agent on behalf of the insurer, which provides confirmation that payment has been received.

A software program which is used to keep a record of all the goods and services that are sold to the customer. Used to run the cash registers and computers at the

The distance between the highest and the lowest point of a certain type of print. Commonly used in commercial printing in the UK and the USA.

An identified source from which pollution is emitted. For instance, the chimney of a factory, or a septic tank, etc.