WebDefine Pre-Inception Date Retrospective Premiums. means all Retrospective Premiums that are attributable to claims paid under Reinsured Contracts prior to the Inception Date (as such claims payments are recorded in the general ledger of any Reinsured). ... Insurance Premiums shall have the meaning set forth in Section 6.1(b) hereof. Tax Expense ... WebApr 20, 2024 · An inspection report is a report generated by an insurance company regarding the details of a specific risk. Inspection reports are designed to examine the risk from a moral, physical, and financial perspective. In terms of life insurance, for example, the older a person is, and the more health problems they have, the riskier they can be to insure.
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WebTerm used to describe insurance against loss of or damage to property arising from any fortuitous cause except those that are specifically excluded. ASSURANCE A term … WebI-K INCEPTION DATE. The date from which, under the terms of a policy, an insurer is deemed to be at risk. INCREASE IN COST OF WORKING. Under a business interruption policy some cover is provided for additional expenditure incurred by the insured solely for the purpose of reducing the shortage in production following an insured event. emily sumnall countryside
What Does Retroactive Date Mean in Business Insurance?
WebJul 19, 2024 · In life and health insurance, an endorsement is referred to as a rider. An endorsement can be added when the policy is issued, during your policy term, or when you … WebInception date. The date an insurance policy's coverage is started. Also called effective date. Policy term. The period of time that an insurance policy provides coverage. Most policies have a one-year term (365 days) but many other policies also have a 6-month term. Policy terms can be for any length of time and can be for a short period when ... WebJul 13, 2024 · When you switch insurance providers, you can often choose a retroactive date that includes the period of time you held a similar policy from a previous insurer. This … dragon bff necklace