INSURANCE

Manifestation Trigger A manifestation trigger is a specific event or thought that causes a person to manifest their desires. It is the catalyst that triggers the subconscious mind to create a reality that aligns with the desired outcome. Types of Manifestation Triggers: Internal triggers: Thoughts, beliefs, habits, emotions, and subconscious patterns that influence our manifestation […]

Definition: An exposure trigger is a factor, event, or stimulus that causes a person to experience anxiety or other symptoms related to their anxiety disorder. These triggers can vary from person to person and may be related to specific social situations, objects, thoughts, or feelings. Examples of Exposure Triggers: Social situations: Public speaking, attending parties, […]

A coverage trigger is a mechanism that determines whether a software component is eligible for coverage testing. It is used in conjunction with coverage criteria, which define the minimum percentage of code coverage that must be achieved. How Coverage Triggers Work: Component Being Tested: The coverage trigger specifies the software component or module that is […]

Sure, the definition of beneficiary is: Beneficiary: A person or organization that receives a benefit or payment from a trust or other legal arrangement. In other words, a beneficiary is the person or organization that is entitled to receive the benefits of a particular asset or financial arrangement.

Definition: An insurance bond is a type of surety bond that guarantees the timely payment of insurance claims to policyholders. It is typically required by law or contract for certain businesses or individuals to obtain. Key Features: Principal: The insured party, who is the main subject of the bond. Suretie: The insurance company that issues […]

Sum Assured The sum assured is the amount of money that is promised to be paid to the beneficiary in the event of the insured’s death. It is the primary amount of compensation paid to the beneficiary. Definition: Sum assured is the amount agreed upon between the insured and the insurance company at the time […]

Unearned premium is a term used in accounting for insurance policies. It is the portion of premium paid for insurance coverage that is not yet earned by the insurer. Unearned premium is recorded as a liability on the insurer’s balance sheet. Here is an example: An insurance company receives payment for a policy on January […]

Runoff Insurance Runoff insurance, also known as excess liability insurance, is a type of liability insurance that provides coverage for losses that occur after a policy’s primary liability limits have been exhausted. It typically applies to claims arising from a business’s operations or products that continue to cause harm after the policy has ended. Key […]

Third-Party Insurance Third-party liability insurance, also known as auto liability insurance, is a type of automobile insurance policy that protects you if you cause harm to others while driving, such as injuries, property damage, or death. It is typically required by law in most states for drivers to carry at least minimum levels of coverage. […]

Net premiums written to policyholder surplus are an accounting measure that calculates the difference between the premiums collected by an insurance company and the claims paid to policyholders. It is used to measure the company’s ability to generate surplus funds. The formula for net premiums written to policyholder surplus is as follows: Net premiums written […]