Insurance Clues

8. A process whereby one entity takes on all or part of the risk covered under a policy issued by an insurance company in consideration of a premium payment
9. The difference between the cost of acquiring the entity and the reporting entity's share of the book value of the acquired entity
10. Getting into a contract on false grounds by making statements that are not in accordance with the facts
11. A person with expertise in the fields of economics, statistics and mathematics, who helps in risk assessment and estimation of premiums etc for an insurance business
12. An amendment or rider to a policy adjusting the coverages and taking precedence over the general contract
13. a contract providing income for a specified period of time, or duration of life for a person or persons
14. Alleged misconduct or negligence in a professional act resulting in loss or injury
16. termination of a policy due to failure to pay the required renewal premium

1. The person or entity entitled to receive the claim amount and other benefits upon the death of the benefactor or on the maturity of the policy
2. Supplementary benefits added in insurance policy purchased by the insured
3. a person who holds something in trust for someone else
4. A person who receives the benefit in case of death of the insured person
5. Selling insurance product through banks
6. Process of putting the insurance policy back after a lapse
7. Making compensation payments to one party by the other for the loss occurred
15. An amount paid periodically to the insurer by the insured for covering his risk