Glossary

A borderline risk is a person, organization, or property of doubtful underwriting quality.

The Bornhuetter-Ferguson technique is an actuarial technique for developing losses to estimate their ultimate amount.

The borrowed servant rule is a legal doctrine stipulating that if an employer (usually referred as the special employer) borrows a worker from another employer (usually referred as the general employer), the special employer can be held liable for the borrowed employee's actions, even though a permanent relationship doesn't exist.

A boutique law firm is a law firm with a very specialized realm of expertise.

A branch captive is a captive insurance company that registers to operate in a state or country other than its domicile state.

Branch profits tax (BPT) refers to an additional tax of about 30 percent payable on dividend remittance by offshore captives that are found to be engaged in trade or business in the United States.

A brands and labels endorsement is a property insurance endorsement that grants permission for the insured to remove labels from damaged goods or mark the items as "salvage," provided the goods are not damaged in the process.

Brand equity is the consumer confidence, loyalty, and favorable reputation that a business's product or service has earned in the marketplace.

Brand rehabilitation involves rebuilding consumer confidence and loyalty in a business or product following a product tampering, contamination, or similar event.

A breach is a failure to meet or fulfill the terms and provisions contained in a contract.