Glossary

A deposit administration plan is a pension plan administered by a life insurance company where pension funds accumulate in a master group annuity policy until a participant retires.

A deposit policy is a contract entered into where the insured puts on deposit with the insurance company a sum of money, and the company, in turn, manages the fund for the insured.

In property and casualty insurance, the deposit premium is the premium deposit required by the insurer on forms of insurance subject to periodic premium adjustment. Also called "provisional premium."

Depreciation is the decrease in the value of property over a period of time, usually as result of age, wear and tear from use, or economic obsolescence.

Deprivation refers to the loss of use of an asset located in a foreign country due to political interference or circumstances.

A derivative is a financial instrument whose value depends, at least in part, on the value of a related asset or liability.

A derivative contract is a financial contract (i.e., a promise to pay an amount to the holder of the contract at a specified time or under specified conditions) where the value of the contract is based on certain variables, such as an index of commodity prices.

Derivative investigation coverage is an insuring agreement (known as "Side D" coverage) found within directors and officers (D&O) liability insurance policy forms.

Derivative lawsuits are a type of lawsuit brought by one or more stockholders, on behalf of the corporation, alleging financial loss to the organization.

A designated construction project general aggregate limit endorsement modifies a commercial general liability (CGL) insurance policy to make the general aggregate limit apply separately to each designated construction project.