CE Townhall

4. a request by a policyholder for payment following the occurrence of an insured event.
6. A written contract for insurance between an insurance company and policyholder stating details of coverage.
9. A practice, usually prohibited by law, in which an insurance agent makes a misleading statement in the sale of insurance.
11. this is the date from which the insurer assumes cover for a risk.

1. the substitution of one party for another as creditor, with a transfer of rights and responsibilities. It applies within insurance when an insurer accepts a claim by an insured, thus assuming the responsibility for any liabilities or recoveries relating to the claim.
2. A reinsurance arrangement covering a single risk as opposed to a treaty arrangement; commonly used for very large risks or portions of risk written by a single insurer, that are shared among several reinsurers.
3. in general insurance, the process of consideration of an insurance risk. This includes assessing the appropriate premium, together with terms and conditions of the cover as well as assessing the risk in the context of the other risks in the portfolio.
5. the principle whereby the insured is restored to the same financial position after a loss as before the loss.
7. In investments, the ownership interest of shareholders. In a corporation, stocks as opposed to bonds.
8. a type of event that may cause a loss that may or may not be covered by an insurance policy.
10. Continuance of coverage under a policy beyond its original term by the insurer's acceptance of the premium for a new policy term.