The premium rate charged for a building’s conent not the building itself.

A market that lets entry or exit occur at any time. It has a few businesses in this market leaving room for new members. If some profit is made than more businesses

The time when a contact is valid to be challenged. For insurance its two years.

1. how a help program can assist the user in their use of a program. 2. how the management gets results based on history and experience.

The term for the 48 states and the District of Columbia.

A fund set aside for expenses due to disaster. AKA contingency reserve.

1. insurance taken out to cover expenses not covered by a primary plan. 2. insurance for remote risks that the primary policy is slow to cover.

A single event that the government taxes for an economic issue. It can do this for natural distasters, import excess, and recovery.

When a supplier goes out of business this covers the losses that are the result.

Charging commission based on profit from reinsurance. The ceding company gets this plus the normal commission.

The RISK of loss arising from a potential CREDIT RISK exposure that may appear in the future, such as drawdown on a REVOLVING CREDIT FACILITY or payment under a GUARANTEE or LETTER

A class of EQUITY financing that becomes effective once a defined TRIGGER has been breached; the class includes LOSS EQUITY PUTS and PUT PROTECTED EQUITY. See also CONTINGENT CAPITAL.

A promise to pay if the terms of a contract are met in the future. Its used to prevent loss when working with a party that may default.

Rent that changes from month to month according to the finances of the tenant.

US insurance for a loss of cash should a sudden event cause a loss of business. A trust is started selling the note. When needed securities are converted into cash. It increases

Improvement that occurs in spurts that reoccur. AKA continuous improvement.

A work of an author that is intended to finish an unfinished piece. It can be a series of several works.

The amount of work left on a contract when it is terminated. A contractor must finish this.

Any lecture, course, seminar, webinar or program that is made to educate a party. It is meant to give skills or information needed in their work. New advances and expertise is learned.

The act of keeping day to day transactions going for the current year and the ones to come.