Category: A

an insurance policy that guarantees payment to the insured for damages he needs to pay for personal injuries to other parties or for damage to a person’s property.

When an loan based on cash surrender value is taken out to cover life insurance premuims. It prevents loss and past due status.

When a vehicle is covered from damage by many possible sources.

Reinsurance that transfers risk. The losses and gains are split between the insurer and reinsurer. The reinsurer must pay a fee to transfer the commission.

When machines and operators can work together. The operator gives the machine a human touch. Both automatic and semi automatic processes make it easy for the operator.

A clause in an INSURANCE contract indicating that after the INSURER has paid the INSURED on a CLAIM, the original contract limits are automatically renewed.

Reinsurance that covers certain risks. Both parties must agree to this.

When a share holder lets gain payments be used to pay for more stock.

When a contract is renewed unless one party decided to discontinue it.

A legal provision afforded to a debtor in BANKRUPTCY that prohibits filing of lawsuits against the company and limits the ability of creditors to dispose of COLLATERAL held as security. While creditors in general cannot sell any of the debtor