: A measure of profitability for an insurer, calculated by dividing the sum of incurred losses and expenses by earned premiums.
: Specific conditions, circumstances, or items that are explicitly not covered by the insurance policy. Dictionary of Insurance Terms
Foundational concepts that govern the legal and ethical framework of insurance contracts: : A measure of profitability for an insurer,
: The total amount of capital an insurance company has available to underwrite general coverage or specific risks. Dictionary of Insurance Terms
: The right of an insurer to pursue a third party that caused an insurance loss to the insured. Essential Policy Components