By Harvey W. Rubin Ph.D.
A useful quick-reference fact-finder for brokers, agents, actuaries, underwriters, and usual shoppers, this instruction manual defines nearly 4,500 key phrases utilized in the assurance undefined. Definitions practice to existence, health and wellbeing, estate, and casualty assurance, in addition to to house owners' and tenants' coverage, specialist legal responsibility assurance, pension plans, and person retirement debts. buy of policies constitutes an incredible lifetime expenditure for the typical patron, and a tremendous functionality of this booklet is to assist non-experts comprehend what they want and precisely what they're purchasing after they buy assurance. writer Harvey Rubin, a Chartered lifestyles Underwriter and Chartered estate and Casualty Underwriter, opens with an summary of the assurance that issues out the numerous monetary tools to be had from insurance firms to companies, pros and regular shoppers. He devotes the rest of this e-book to definitions, descriptions, and examples that translate technical assurance terminology into transparent, understandable English. this is an enlightening and available enterprise advisor that merits a spot on each domestic bookshelf. the hot York occasions calls this e-book ". . . valuable, relatively for worker gain and retirement issues."
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Additional resources for Dictionary of Insurance Terms
And, astonishingly, the business insurance purchase decision is also frequently made without sufficient basic knowledge of the various insurance products available. Thus, one function of Barron's Dictionary of Insurance Terms is to serve as a reference source for individuals making personal and business insurance planning decisions. The Dictionary provides concise definitions and examples of those terms most likely to confront the insurance consumer on all levels. The insurance field is rapidly changing.
RUBIN Page xi How to Use This Book Effectively Alphabetization: All entries are alphabetized by letter rather than by word, so that multiple-word terms are treated as single words. For example, AGE SETBACK follows AGENT OF RECORD, and ALL RISKS follows ALLOCATION OF ASSETS. In some cases (such as NAIC acts and regulations), abbreviations appear as entries in the main text, in addition to appearing in the back of the book in the separate listing of Abbreviations and Acronyms. This occurs when the short form, rather than the formal name, predominates in the common usage of the field.
ADJUSTER, PUBLIC see PUBLIC ADJUSTER. ADJUSTER, STAFF employee of an insurance company who assesses insurance coverage for property claimed to be damaged and determines the insurance proceeds that might be payable for the claim. A fee adjuster works for himself and does claims adjustments on a fee basis. ADJUSTMENT BUREAU company organized with the business objective of providing claims adjustment services to insurance companies that do not have an internal claims department. See also ADJUSTER, STAFF.