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This is illustrated in the following tree diagram where at each payment date either the contract has a default event, in which case it ends with a payment of () shown in red, where is the recovery rate, or it survives without a default being triggered, in which case a premium payment of / is made, shown in blue. At either side of the diagram ...
In the insurance industry, gross premiums written is the sum of both direct premiums written (see next paragraph) and assumed premiums written, before deducting ceded reinsurance. Direct premiums written represents the premiums on all policies the company's insurance subsidiaries have issued during the year.
Premiums continue to fall as naive insurers offer cover at unrealistic rates, and established businesses are forced to compete or risk losing business in the long term. The next stage is precipitated by a catastrophe or similar significant loss, for example Hurricane Andrew or the attacks on the World Trade Center .
SEPP payments must be substantially equal, meaning they cannot fluctuate or you may lose the ability to receive penalty-free withdrawals. Payments must be based on the taxpayer’s life expectancy ...
There can be single payment premiums which is actually the sales spread over a period of long time. (In contrast to the recurring premiums which involves payment of premiums every year). So APE is a measure to normalize the single premium payments to the recurring payment premium equivalent. This helps in comparing the sales accurately.
The circular flow of income is a concept for better understanding of the economy as a whole and for example the National Income and Product Accounts (NIPAs). In its most basic form it considers a simple economy consisting solely of businesses and individuals, and can be represented in a so-called "circular flow diagram." In this simple economy ...
Insurance premiums from many insureds are used to fund accounts reserved for later payment of claims – in theory for a relatively few claimants – and for overhead costs. So long as an insurer maintains adequate funds set aside for anticipated losses (called reserves), the remaining margin is an insurer's profit .
Medical billing, a payment process in the United States healthcare system, is the process of reviewing a patient's medical records and using information about their diagnoses and procedures to determine which services are billable and to whom they are billed.