Principles of insurance
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Losses must be uncertain. The rate of losses must be relatively predictable: In order to set premiums (prices) insurers must be able to estimate them accurately. This is done using the Law of Large Numbers which states that: The larger … Read More

Insurance fraud (False insurance claims)
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Insurance fraud or false insurance claims are insurance claims filed with the intent to defraud an insurance provider. In the United States insurance fraud is estimated to cost US$875 per person per year with The Coalition Against Insurance Fraud estimating … Read More

General insurance
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General insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurancetypically comprises any insurance that is not determined to be life insurance, and is called property and casualty insurance in … Read More

Death spiral
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Death spiral is a term used to describe an insurance plan whose costs are rapidly increasing as a result of changes in the covered population. It is the result of adverse selection in insurance policies where lower risk policy holders … Read More

Bancassurance
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National Westminster Bank, Liverpool Bancassurance is the term applied to describe the sale of insurance solutions in a bank. The word can be a combination of “banc” and “assurance” signifying that both banking and insurance is supplied by the exact … Read More

Insurance for confirmation and execution of orders
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Insurance Asigurare 1. As requested, we have arranged insurance and will attach the policy to shipping documents. 2. We have noted that you are covering insurance yourselves. 1.După cum aţi solicitat am aranjat asigurarea şi vom anexa poliţa la documentele … Read More

Order insurance
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Insurance Asigurare 1. As requested, we have arranged insurance and will attach the policy to shipping documents. 2. We have noted that you are covering insurance yourselves. 1.După cum aţi solicitat am aranjat asigurarea şi vom anexa poliţa la documentele … Read More

Poker jargon – I
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idiot end, ignorant end The bottom end of a straight. immortal Unbeatable; often said of a hand that a player knows cannot be beaten under the circumstances of play. Also “lock”, “nuts”. improve To achieve a better hand than one … Read More

Blackjack rules
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Blackjack hands are scored by their point total. The hand with the highest total wins as long as it doesn’t exceed 21; a hand with a higher total than 21 is said to bust. Cards 2 through 10 are worth … Read More