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Home Dictionary W Workers' Compensation 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. By accepting workers’ compensation, the worker waives the right to sue his employer for damages. Compensation may include partial payment of wages and medical expenses. Workers’ compensation is not the same as unemployment benefits or disability insurance. Workers' Compensation Coverage A
September 25, 2022 Workers’ Compensation A protects workers under state law. Cost, Insurance and Freight (CIF)
September 25, 2022 “Cost, insurance and freight” (CIF) is an international trade term that applies only to goods shipped by water or ocean. 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. 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. 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. Cash Surrender Value
September 25, 2022 A cash surrender value is the amount of money a life insurance company pays out to a policy or annuity holder if they decide to terminate the plan. Cash Value Life Insurance
September 25, 2022 Permanent life insurance policies, such as life insurance or universal life insurance, can accumulate monetary value over time. Certificate of Insurance (COI)
September 25, 2022 A certificate of insurance (COI) is issued by an insurance company or broker and confirms the existence of an insurance policy. CoInsurance
September 25, 2022 Co-payment plans can make it easier for insurers to plan their out-of-pocket costs as it is a fixed amount. Combined Ratio
September 25, 2022 The combined ratio is a measure of profitability used by an insurance company to evaluate how well it performs in its day-to-day operations.