Glossary
The cash surrender value is the amount of cash available to the insured in an individual life insurance policy when the insured cancels and surrenders the policy.
Read MoreCasualty Claim Law Associate (CCLA) is a claims law specialist designation offered by the American Educational Institute (AEI).
Read MoreCasualty Claim Law Specialist (CCLS) is a claims law specialist designation offered by the American Educational Institute (AEI).
Read MoreCasualty insurance is primarily concerned with the losses caused by injuries to persons and legal liability imposed on the insured for such injury or for damage to property of others.
Read MoreA catastrophe is a severe loss characterized by extreme force and/or sizable financial loss.
Read MoreA catastrophe bond is a derivative debt investment vehicle issued by insurers and reinsurers designed to raise investor capital to cover catastrophic loss events.
Read MoreCatastrophe equity put refers to a contract that allows an insurer to exercise an opportunity, but not the obligation, to exercise an option at a specific index value in the event that losses (the index value) exceed a predetermined level, thus requiring additional equity capital.
Read MoreA catastrophe plan is a prepared strategy detailing how a particular organization will respond to a disaster.
Read MoreA catastrophe policy is the name previously used for major medical insurance.
Read MoreCatastrophe reinsurance is a form of reinsurance that indemnifies the ceding company for the accumulation of losses in excess of a stipulated sum arising from a single catastrophic event or series of events.
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