With respect to an insurance contract, direct participation involves multiple distinguishing features such as participation of policyholders in a share...
An insurance coverage (a policy) that is contingent on the absence or unavailability of other insurance. In other words, the...
A situation that arises when the sum insured on an insurance policy — that is, the maximum coverage amount for...
A situation that arises when the sum insured on an insurance policy — that is, the maximum coverage amount for...
Determination of the amount to be paid against a claim in the case the amount or sum insured is undervalued...
Pro rata is Latin for proportionate allocation; in insurance, pro rata involves the process of determining the amount of premium...
In principle, a cliquet option/ ladder option (ratchet option) is an option (or a warrant, index-linked note) that subjects its...
In principle, a ladder option (ratchet option) is an option (or a warrant, index-linked note) that subjects its minimum payoff...
In principle, a ratchet option is an option (or a warrant, index-linked note) that subjects its minimum payoff to an...
It stands for guideline level premium; with respect to life insurance (particularly universal life insurance), it is the level annual...