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Home Dictionary C Cost, Insurance and Freight (CIF) “Cost, insurance and freight” (CIF) is an international trade term that applies only to goods shipped by water or ocean. Together with the cost, insurance and freight, the seller covers the costs, insurance and freight of the buyer’s order in transit. Once the shipment has been delivered to the buyer’s destination port, the buyer is responsible for the import and shipping costs of the goods. However, the transfer of risk from the seller to the buyer occurs when the goods are loaded onto the ship. The buyer takes ownership of the goods once on the ship, and if the cargo is damaged during transit, the buyer must file a claim with the seller’s insurance company. Workers' Compensation
September 25, 2022 Workers’ compensation is a form of employers’ insurance coverage that pays benefits to workers who are injured or disabled as a result of their work. Workers' Compensation Coverage A
September 25, 2022 Workers’ Compensation A protects workers under state law. Employers' Liability Insurance
September 25, 2022 Employers’ liability insurance covers companies against expenses and claims from employees that are not covered by workers’ compensation. Key Person Insurance
September 25, 2022 Key person insurance is a life insurance policy that a company buys for the life of a top manager or other important person. QSEHRA
September 25, 2022 QSEHRA is a health care reimbursement plan that may be offered by small business employers. Surplus Lines Insurance
September 25, 2022 Surplus insurance protects against financial risk that a conventional insurance company would not take. Unlimited Liability
September 25, 2022 An unlimited liability company includes general partners and individual owners who are equally liable for all debts and liabilities arising from the business. Warehouser's Liability Form
September 25, 2022 A warehouse responsibility form is a document that describes the obligations of a warehouse to its customers. Workers' Compensation Coverage B
September 25, 2022 Workers’ Compensation Coverage B is an insurance policy that covers medical expenses and loss of income for injured workers. Wrap-Around Insurance Program
September 25, 2022 The Comprehensive Insurance Program is a policy that provides punitive damages coverage for claims related to work practices. 8(a) Firm
September 25, 2022 8(a) firms are small businesses that are owned and controlled by socially and economically disadvantaged individuals. 83(b) Election
September 25, 2022 Choice 83(b) is an Internal Revenue Code (IRC) provision that gives an employee or startup founder the ability to pay taxes on the total fair market value of the restricted shares at the time of grant. Accidental Death Benefits
September 25, 2022 An accidental death benefit is paid to the beneficiary of the accident insurance policy. Accidental Death and Dismemberment Insurance (AD&D)
September 25, 2022 Accidental death and dismemberment (AD&D) insurance is usually added as an add-on to a life insurance policy. Actuarial Life Table
September 25, 2022 The statistics in the actuarial life table calculate, among other things, the probability of surviving to a certain age. Adjustable Life Insurance
September 25, 2022 Regulated life insurance allows policyholders to make adjustments to their cash value, premiums and death benefits. Aleatory Contract
September 25, 2022 an aleatory contract is an agreement under which the parties are not required to perform certain actions until a certain event occurs. All Risks
September 25, 2022 All risks - a comprehensive insurance policy offered on the property accident insurance market. Allocated Loss Adjustment Expenses (ALAE)
September 25, 2022 Allocation expenses (ALAE) are expenses related to a specific insured event. Articles of Incorporation
September 25, 2022 The memorandum of association is the documents filed with a government body (usually the state), which means the creation of a corporation. Assurance
September 25, 2022 A guarantee refers to a financial cover that provides a reward for an event that is bound to happen. Automatic Premium Loan
September 25, 2022 Automatic premium loans allow you to apply the cash value of a permanent life insurance policy to past due premium payments. Bancassurance
September 25, 2022 Bancassurance is an agreement between a bank and an insurance company, through which the insurer can sell its products to the bank’s customers. Bootstrap
September 25, 2022 Bootstrapping is the creation and management of a company using only personal finance or operating income. Business Process Outsourcing
September 25, 2022 Business Process Outsourcing (BPO) uses third party vendors or subcontractors to perform certain parts of their business operations.