Determination of whether a CLAIM is covered by an INSURANCE contract. If the contract is written on a claims occurrence basis and a claim arises from an event when the […]

An insurer receiving, investigating and acting on a claim filed by an insured, fulfilling its obligation . These actions of review, investigation , adjustment (if necessary), and remittance or denial […]

Money put aside by the insurance firm to cover potential claims payment on those occurred but are as yet unsettled.

Insurance policy that pays only claims occurring during the policy coverage period. The date of filing makes no difference. Refer also to claims made basis .

A technical phrase of the Roman law, meaning by force, stealth, or importunity . Clam delinquentes magis puniuntur quam palam. 8 Coke, 127. Those sinning secretly are punished more severely […]

An ancient writ by which the king commanded the justices in eyre to admit the claim by attorney of a person who was in the royal service, and could not […]

In old English law . A claim or complaint; an outcry; clamor.

Two clear and thin hinged-halves of a plastic shell that open and close like a clamshell.

Secret; hidden; concealed. The ” clandestine importation ” of goods is a term used in English statutes as equivalent to “smuggling.” Keck v. U. S., 172 U. S. 434, 19 […]

(It clearly appears.) In Scotch law. The name of a precept for giving seisin of lands to an heir; so called from its initial words. Ersk. Inst. 3, 8, 71. […]

Lat. In old Scotch law . A making clear; the purging or clearing (clenging) of an assise. Skene.

Unobstructed, undistorted view. For material, it is the absence of haze or turbidity. This is measured by means of methods such as ASTM D2457. The measure is a function of […]

A disaster scenario where various LINES of INSURANCE are simultaneously impacted by losses. The resulting CLAIMS may be particularly large and can negatively impact the financial condition of INSURERS and […]

An EXCESS OF LOSS REINSURANCE contract where the INSURER is covered against property and casualty losses when a single CASUALTY event causes losses for at least two CEDING INSURERS.

The order or rank according to which persons or things are arranged or assorted. Also a group of persons or things, taken collectively, having certain qualities in common, and constituting […]

A rating typically based on superior quality and/or location. In rental management, it is given to properties that generate a maximum rent-per-square-foot.

A rating typically given to property that generate a lower-than-average rent per square foot. These properties are physically acceptable but have few amenities.

Common stock providing more voting rights than Class B Shares . The voting rights are spelled out for each class of stock in the firm’s prospectus. See also B Shares; […]

Legal action involving a large group or class of people. Without having every member of the class join the action, a few individuals initiate a court case becoming representatives of […]

Settlement of a class-action suit. Benefits the large group or class represented in the action and settlements. The settlement may involve a lump sum of some type of monetary payout […]

shares in a mutual fund with a backend load. Also known as B Shares. Refer to Class A Shares ; Class C Shares for comparison.

A term applied to statutory enactments which divide the people or subjects of legislation into classes, with reference either to the grant of privileges or the imposition of burdens, upon […]

There are five major categories of accounts: (1) Assets, (2) Liabilities, (3) Net assets, (4) monies, and (5) Expenditure . These of these categories of accounts are divided into account […]

Workers are divided into three common categories: (1) Wage and salary worker, who receives daily, weekly, or monthly compensation including commission or tips, (2) Self-employed worker, who owns a business, […]

Freight rate based on similar shipping characteristics for goods grouped and classified as the same.