Loss experienced or profit gained from a policy for insurance.

The risk incurred if securities dont sell. Any shortfall must be covered by the underwriter . Or the risk that loss will be greater than insurance can cover.

The difference between the price paid and the price offered by investors. Refer to selling concession .

Underwriter ‘s group existing temporarily and banks formed for marketing new bonds or shares that is too big for one body to handle it. Also known as underwriting group.

Strategy of sales growth ignoring market section differences and appealing to all prospective customers with a single line of product by mass advertising and distribution . See concentrated marketing , […]

Products that can be replaced with identical products but from different suppliers.

Bankrupt person not given an ‘ order of discharge ‘ by the courts.

the person that an agent carries out transactions for and doesn’t reveal his identity.

a fact that is admitted and has no controversy surrounding it.

These are the extra monies that a corporation has not distributed as dividends or has put into a surplus account.

An undivided right or title, or a title to an undivided portion of an estate, is that owned by one of two or more tenants in common or joint tenants […]

Underwriting syndicate where each member has dual liability. See divided account.

Ownership claim of property or assets commonly owned with restricted claims but no one has an exclusive claim.

See undistributed profits .

In old English law . Minors or persons under age not capable of bearing arms. Fleta, 1. 1, c. 9; Cowell.

In regard to the making of a will and other such matters, undue influence is persuasion carried to the point of overpowering the will, or such a control over the […]

Sax. An unjust law.

In old Scotch law . That which is done without law or against law. Spelman.

1. Accounting. Income received before a service is provided or a good is sold.2. Taxation. Income from means not arising from a person’s efforts.

the increase in value that arises from the course of events and not from improvements .

Deducted amount from a sum and classed as interest in advance.

Insurance made in advance that the insurance company has not earned.

A reserve held out of premium. This is the amount needed to cover losses before maturation.

Account holding income recognised to pay insurance premiums.

Part of the premium applying to a reinsured part of the policy.