By Harvey W. Rubin Ph.D.

A worthwhile quick-reference fact-finder for brokers, agents, actuaries, underwriters, and usual shoppers, this guide defines nearly 4,500 keyword phrases utilized in the coverage undefined. Definitions practice to existence, well-being, estate, and casualty coverage, in addition to to homeowners' and tenants' assurance, expert legal responsibility coverage, pension plans, and person retirement debts. buy of policies constitutes a tremendous lifetime expenditure for the typical shopper, and an immense functionality of this booklet is to assist non-experts comprehend what they want and precisely what they're paying for after they buy coverage. writer Harvey Rubin, a Chartered lifestyles Underwriter and Chartered estate and Casualty Underwriter, opens with an outline of the coverage that issues out the numerous monetary tools on hand from insurance firms to companies, execs and normal shoppers. He devotes the rest of this publication to definitions, descriptions, and examples that translate technical coverage terminology into transparent, understandable English. this is an enlightening and available company consultant that merits a spot on each domestic bookshelf. the recent York occasions calls this e-book ". . . priceless, really for worker profit and retirement issues."

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This person so appointed acts in a FIDUCIARY capacity with regard to that estate. ADMIRALTY LIABILITY maritime acts resulting in a LIABILITY circumstance falling under COMMON LAW and statutory law. See also JONES ACT (MERCHANT MARINE ACT). ADMIRALTY PROCEEDING conducting of maritime suits involving OCEAN MARINE INSURANCE policy claims before an admiralty court. ADMITTED ASSETS assets permitted by state law to be included in an insurance company's ANNUAL STATEMENT. These assets are an important factor when regulators measure insurance company solvency.

ADMIRALTY PROCEEDING conducting of maritime suits involving OCEAN MARINE INSURANCE policy claims before an admiralty court. ADMITTED ASSETS assets permitted by state law to be included in an insurance company's ANNUAL STATEMENT. These assets are an important factor when regulators measure insurance company solvency. They include mortgages, stocks, bonds, and real estate. Historically, a large part of admitted assets consisted of long term mortgages, but Page 16 with the advent of CURRENT ASSUMPTION WHOLE LIFE INSURANCE policies, short term financial instruments can be used to make up a large part of admitted assets.

Yet, the individual makes these expenditures usually without adequate knowledge of the insurance product purchased. Essentially the same situation exists in the business world. Contributions paid into various insurance coverages in most instances exceed other business operating expenses. Employee benefit plan contributions alone have been estimated to range between 30-45 cents for each dollar of salary paid to an employee. When added to the cost of other business related insurance expenditures such as workers compensation, buy-sell insurance funded agreements, key person insurance, business property coverage, business liability insurance, and other business specialty insurances coverages, the total cost can be overwhelming.

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