Glossary

Cumulative injury is a type of workers injury that arises from the repetition of mentally or physically traumatic job tasks over an extended length of time.

Current assumption whole life insurance is a nonparticipating whole life policy that acts similarly to a universal life insurance policy in that it has an accumulation account from which mortality and other costs are deducted while interest is credited based on investment results.

Current disbursement is the pay-as-you-go technique to funding a pension plan.

The current service benefit is the portion of an insured's pension benefit that has accrued due to credited service in a given time period.

Customer's auto is a policy term that is defined in the Insurance Services Office, Inc. (ISO), garage policy.

A custom bond, required by the US Customs Service, guarantees the payment of duties or taxes due by law on all goods directly or indirectly imported or exported to or from the United States as well as the reporting of statistical data relating to the shipments involved.

A cutoff is a termination provision in a reinsurance contract under which the reinsurer is not liable for losses taking place after the date of termination.

A cut through clause is a clause used with retrocessions.

A cut through endorsement is a reinsurance contract endorsement providing that, in the event of the cedent's insolvency, the reinsurer will pay any loss covered by the reinsurance contract directly to the insured.

Cyber-extortion coverage is an insuring agreement contained within some policies written to cover claims associated with data breaches.