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General Insurance |
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| A | B | C | D | E | F | G | H | I | J | K | L | M |
| N | O | P | Q | R | S | T | U | V | W | X | Y | Z |
| Click a letter to browse that section. | ||||||||||||
- D&B.
- See Dun and Bradstreet, Inc.
- DEFRA.
- Deficit Reduction Act of 1984.
- Daily Report.
- An abbreviated statement of pertinent policy information with copies for the insurer, the agent, and others. It is usually the top page of a policy.
- Date of Issue.
- The date stated in a policy as the date on which the contract was issued by the insurer. This is not necessarily the effective date of the policy.
- Decedent.
- Same as deceased.
- Declination.
- Rejection of an application for insurance by the insurer.
- Deductible.
- The portion of an insured loss to be borne by the insured before he is entitled to recovery from the insurer.
- Deductible Clause.
- A contract provision that sets forth the deductible.
- Deductible, Disappearing.
- See Disappearing Deductible.
- Deductible, Franchise.
- See Franchise Deductible.
- Deficit.
- Any excess of debits over credits at the end of a given accounting period. (G,R)
- Deficit Carried Forward.
- The transfer of a debit balance from one accounting period to another.
- Deflation.
- An economic period characterized by falling prices, high unemployment and a generally sluggish or slow economy.
- Degree of Risk.
- The amount of uncertainty that exists in a given situation. For instance, if you've chosen heads in the flip of a coin, the degree of risk present is 50%, since there is a 50% chance any flip of the coin will come up tails. See also Law of Large Number, Odds, and Probability.
- Dependent.
- An individual who depends on another for support and maintenance.
- Deposit (or Provisional) Premium.
- The premium paid at the inception of a contract which provides for future premium adjustments. It is based on an estimate of what the final premium will be. See also Basic Premium.
- Depreciation.
- A decrease in the value of any type of tangible property over a period of time resulting from use, wear and tear, or obsolescence.
- Deviated Rate.
- Companies that adhere to rates promulgated by a bureau sometimes offer lower rates than those recommended in certain areas. The company is said to have "deviated" from the bureau rate for that area.
- Deviation.
- A rate that varies from the manual rate.
- Direct Selling System.
- A distribution system within which an insurer deals directly with its insureds through its own employees. This definition applies typically to Property and Liability Insurance business. Included are mail-order insurance and the sale of insurance from vending machines at airport booths and elsewhere. Contrast with Independent Agency System.
- Director of Insurance.
- A title used in some states for the head of the department of insurance. See also Commissioner of Insurance.
- Disability.
- A condition that curtails to some degree a person's ability to carry on his normal pursuits. A disability may be partial or total, and temporary or permanent.
- Disclosure Authorization Form.
- A form authorizing the disclosure of personal information obtained in connection with an insurance transaction. Insurers are required to give applicants advance notice of their information practices. Among other things, the form must state the kind of information collected and to whom information may be disclosed.
- Discrimination.
- Refusal of an insurer to provide comparable insurance or use comparable rates for certain individuals or groups with basic characteristics the same as those to whom the coverage or rates are offered. Unfair discrimination is prohibited by law.
- Divided Cover.
- The placing of insurance on a given subject or object with more than one insurer.
- Dividend.
- (1) The return of part of the premium paid for a policy issued on a participating basis by either a mutual or a stock insurer. (2) A portion of the surplus paid to the stockholders of a corporation.
- Domestic Insurer (or Company).
- An insurer formed under the laws of the state in which the insurance is written.
- Drive-In Claim Service.
- A facility maintained by an Automobile insurer in which the extent of damage to a claimant's automobile can be determined and, in many cases, a settlement made.
- Dual Life Stock Company.
- A stock Life insurer issuing both participating and nonparticipating policy contracts.
- Dun and Bradstreet, Inc. (D&B)
- A corporation which furnishes insurance companies with financial reports which assist them in the underwriting of prospective policyholders.
