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The context of the establishment of the Global Anti-Aggression Campaign is specified in the organization’s founding statement written by Abd al-Rahman al-Nuaimi.The founding statement accuses the US and Israeli governments of aggression by attempting to extend their influence over Muslim nations and peoples, plunder their resources, and alter their educational and social systems.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
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.
The balance of payments (BOP) is the record of a country's monetary transactions with the rest of the world. Transactions are either marked as a credit or a debit. Within the BOP there are three separate categories under which different transactions are categorized: the current account, the capital account and the financial account.
This effect is known as new business strain and is due to the requirement for the insurer to hold day 1 capital reserves that are higher than the initial premium payments from customers. Zillmerisation is one method of adjusting a net premium valuation to ease this initial strain.
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 ...
The underwriting cycle is the tendency of property and casualty insurance premiums, profits, and availability of coverage to rise and fall with some regularity over time. A cycle begins when insurers tighten their underwriting standards and sharply raise premiums after a period of severe underwriting losses or negative shocks to capital (e.g ...
Payments as a service (PaaS) is a marketing phrase used to describe software as a service to connect a group of international payment systems.The architecture is represented by a layer – or overlay – that resides on top of these disparate systems and provides for two-way communications between the payment system and the PaaS.