GLOSSARY

Due Care

As related to the Business Judgment Rule, a decision must be made based on reasonable and relevant information.

Read More »

Due Diligence

Actions taken to investigate documents and records of a business and/or person prior to examination of a proposed action before it is undertaken, executing a

Read More »

Dynamics of Selling

The Dynamics of Selling Series is a multi-day insurance specific sales training course. Designed and taught by leading, insurance sales professionals who are active in

Read More »

Earned Premium

Amount of the premium that has been “used up” during the term of a policy; for example, if a one-year policy has been in effect

Read More »

Economic Risk

A general class of risk; risks arising from operations, economy, financial marketplace or entrepreneurial activities.

Read More »

ELR

When computing workers compensation experience modifications, the factor taken from actuarial tables used to calculate total expected losses for the specific classification given the audited

Read More »

Emerging Risk

New exposures to loss for which a risk treatment has not been implemented; existing exposures to loss that are evolving, difficult to quantify and may

Read More »

Employee

A person in the service of another under a contract of hire, who acts under the direction and control of the person who hired him/her.

Read More »

Employee Welfare Benefit Plan

Any plan that provides medical care or benefits for sickness, accident, disability, death, unemployment, vacation, training, day care, scholarships, or prepaid legal services, or any

Read More »

Do you need an answer immediately?

Check out our FAQ page!