Accretion
Accretion refers to the gradual and natural accumulation of additional coverage or value over time. Accretion is often factored into long-term insurance products like annuities, where policy value increases are crucial for retirement planning amidst fluctuating economic conditions in the…
Accounts receivable policy
An Accounts Receivable Policy specifies the terms and conditions under which accounts receivable insurance operates. In contemporary practice, these policies are tailored to address the unique risks of different industries, ensuring comprehensive protection against diverse threats to a company’s receivables.…
Accounts receivable insurance
Accounts Receivable Insurance covers losses arising from the inability to collect accounts receivable due to insured perils. Pays for loss of records showing how much is due the insured. Insurance against loss due to inability to collect outstanding accounts receivable…
Account current
Account Current is a statement summarizing the transactions between a broker and an insurer, showing debits and credits over a specific period. With the rise of digital insurance platforms, maintaining accurate and transparent account current statements is crucial for compliance…
Accommodation line
An "Accommodation Line" is an insurance policy issued as a favor or accommodation to an insured, often without rigorous underwriting. An insurance company at times will accept from an agent or broker whose entire account is satisfactory, business which would…
Accidental means
Accidental Means refers to an unexpected, unforeseen event causing injury or damage, where both the cause and the result are unintentional. Contemporary American insurance policies often stipulate coverage only for incidents classified under "accidental means" to prevent fraudulent claims and…
