|Insurance Definitions and Insurance Terms
|Insurance Terms By Alphabet
|Insurance Glossary and Insurance Terms Definitions are below.
Choose the letter of the alphabet that your Insurance question or term falls under. You may browse the
definitions to obtain an understanding of the product you have. These definitions are not limited to just car
Insurance. Thank you for visiting our site.
JOINT UNDERWRITING ASSOCIATION / JUA
Insurers which join together to provide Coverage for a particular type of risk or size of exposure, when there
are difficulties In obtaining Coverage In the regular market, and which share In the profits and losses
associated with the program. JUAs may be set up to provide auto and homeowners Insurance and various
commercial coverages, such as medical malpractice
Corporate bonds with credit ratings of BB or less. They pay a higher yield than investment grade bonds
because issuers have a higher perceived risk of default. Such bonds involve market risk that could force
investors, including insurers, to sell the bonds when their value is low. Most states place limits on insurers’
investments In these bonds. In general, because property/casualty insurers can be called upon to provide
huge sums of money immediately after a disaster, their investments must be liquid. Less than 2 percent are
In real estate and a similarly small percentage are In junk bonds.
NOTICE: These glossary definitions provide a brief description of the terms and phrases used within the
Insurance industry. These definitions are not applicable In all states or for all Insurance and financial
products. This is not an Insurance contract. Other terms, conditions and exclusions apply. Please read your
official policy for full details about coverages. These definitions do not alter or modify the terms of any
Insurance contract. If there is any conflict between these definitions and the provisions of the applicable
Insurance policy, the terms of the policy control. Additionally, this informational resource is not intended to
fully set out your rights and obligations or the rights and obligations of the Insurance company, agent or
agency. If you have questions about your Insurance, you should contact your Insurance agent, the
Insurance company, or the language of the Insurance policy.
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