1. A legal assertion; a legal demand; Taken by a person wanting compensation, payment, or reimbursement for a loss under a contract, or an injury due to negligence. 2. Amount a claimant

Determination of whether a CLAIM is covered by an INSURANCE contract. If the contract is written on a claims occurrence basis and a claim arises from an event when the policy is

Two clear and thin hinged-halves of a plastic shell that open and close like a clamshell.

Unobstructed, undistorted view. For material, it is the absence of haze or turbidity. This is measured by means of methods such as ASTM D2457. The measure is a function of light passing

A disaster scenario where various LINES of INSURANCE are simultaneously impacted by losses. The resulting CLAIMS may be particularly large and can negatively impact the financial condition of INSURERS and REINSURERS. See

A rating typically based on superior quality and/or location. In rental management, it is given to properties that generate a maximum rent-per-square-foot.

Common stock providing more voting rights than Class B Shares. The voting rights are spelled out for each class of stock in the firm’s prospectus. See also B Shares; Preferred Shares; Restricted

Legal action involving a large group or class of people. Without having every member of the class join the action, a few individuals initiate a court case becoming representatives of the group

shares in a mutual fund with a backend load. Also known as B Shares. Refer to Class A Shares; Class C Shares for comparison.

A rating typically given to property that generate a lower-than-average rent per square foot. These properties are physically acceptable but have few amenities.

There are five major categories of accounts: (1) Assets, (2) Liabilities, (3) Net assets, (4) monies, and (5) Expenditure. These of these categories of accounts are divided into account groups and subgroups.

Workers are divided into three common categories: (1) Wage and salary worker, who receives daily, weekly, or monthly compensation including commission or tips, (2) Self-employed worker, who owns a business, farm, or

Freight rate based on similar shipping characteristics for goods grouped and classified as the same.

NFPA classification for a fire due to or engulfing ordinary combustible material, such as cloth, paper, plastics, rubber, wood, and the like. These materials can be extinguished using water based or general

NFPA classification for fire due to or engulfing flammable or combustible liquids, gases, gasoline /petrol, grease, oils, paints, and the like. These materials can be extinguished only by eliminating air supply and

NFPA classification for fire due to or engulfing energized electrical equipment such as motors, switches, wiring. For this type of fire only chemicals that do not conduct electric current are used. Water

NFPA classification for fire due to or engulfing metals that burn, such as lithium, magnesium, potassium, sodium, titanium, and zirconium. These can be extinguished by eliminating air supply and smothering the fire.

The notion that changes to the variables that affect monetary values will not impact real values such as interest rates, employment, industrial output. This is a classical economic concept.

School of economic thought promoting the notion that economies do best if everyone can pursue one’s own self interest with free and open competition. Several 18th and 19th century British economists from

Theory promoting the notion that economic growth ends when a population increases. Supporters of this theory believe that the population increases as the gross domestic product increases. This population growth increases demand