Participating policies give the policy owner the right to share in the insurer's surplus.
A participating life insurance policy is defined as a contract that allows the policy owner to receive a share of surplus in the form of policy
All of these are reinsurance features except Increases the unearned premium reserve
A mutual insurer is also referred to as a participating company.
Marketing can be best defined as identifying and selling to potential customers.
Reinsurance is an arrangement by which an insurance company transfers a portion of a risk it has assumed to another insurer.
In a reinsurance agreement, the insurance company that transfers its loss exposure to another insurer is called the primary insurer.
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An endorsement is a written document that modifies the terms of an insurance policy, adding or changing coverage, exclusions, or conditions.
An insurance policy is a contract where one party promises to indemnify another against loss that arises from an unknown event.
The process whereby a mutual insurer becomes a stock company is called demutualization.
An insurer established and owned by a parent firm for the purpose of insuring the parent firm's loss exposures is known as a captive insurer
