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