Crossword Chpt 1-6

3. a business entity's ability to meet its long-term financial commitments
5. a common method of exposure identification
7. an insurance company that provides insurance to, and is controlled by, its owners
10. the department you would find human resources in
11. the price of insurance protection for a specified risk for a specified period of time
12. an illegal contract
14. condition that may cause a peril to occur or make the loss more severe
15. the capital that is the amount of stock sold by a corporation
16. the chance of loss arising from an individuals obligation to pay damages because of injury or damage to another or anothers property
18. an agreement that provides for automatic reinsurance
20. when a company decides not to engage in a new business venture, it avoids the risks associated with it
23. one of the ways insurer's spread risk
24. the remaining value of property after severe damage by fire or other peril
25. the type of contract that the terms have been specifically stated and agreed on
26. a written or oral agreement given by an insurer to insure a risk

1. when two or more persons come to a mutual understanding with respect to their rights and duties
2. to provide compensation for loss or expenses incurred
4. the sharing of loss or liability between two or more insurance companies
6. the type of account used by broker for everyday expenses
8. the intentional withholding of pertinent to a risk
9. incorrect statement made about a material fact
13. to put people back in the same financial position as there were in prior to a loss
17. a cause that is not the proximate cause of loss but it the last link in a chain of events leading to a loss
19. an insurance company that reinsures primary insurance companies
20. one who specializes in the mathematics of insurance mortality rates and the like
21. persons with insurable interest in property
22. the type of contract that in an event of a loss a predetermined amount will be paid