Line Of Business In Insurance

The line of business is written by a stipulated premium company unless such line is written pursuant to TIC 827002.

Line of business in insurance. 34 Aggregate write-ins for other lines of business Casualty glass AS 21120706 Casualty leakage and fire extinguishing equipment AS 21120708 Casualty livestock AS 211207012 Casualty. Line of business often refers to an internal corporate business unit whereas the term industry refers to an external view tha. Insurance Statement Line Type Of Sub-Type of Insurance Insurance Property 1 Coverage protecting the insured against loss or damage to real or personal property from a variety of perils including but not limited to fire lightening business interruption loss of rents glass breakage tornado windstorm hail water damage.

Combined Line Description Statutory Page Line Number Corresponding Standard Line Description from NAIC Annual Statement Page 24 statutory page 14 Auto Liability 191 Private Passenger Auto No-fault 192 Other Private Passenger Auto Liability 193 Commercial Auto No-fault 194 Other Commercial Auto Liability. Business owners Policy. As such terms such as product category are often inaccurate.

Commercial lines insurance is a subset of property and casualty insurance. Last four digits of the Social Security Number or full FEIN. It may or may not be a strategically relevant business unit.

Meaning pronunciation translations and examples. Losses stemming from the destruction of the World Trade Center and other buildings by terrorists on September 11 2001 totaled about 325 billion including commercial liability and group life insurance claims -- not adjusted for inflation -- or 359 billion. Line of business is a general term which refers to a product or a set of related products that serve a particular customer transaction or business need.

A line of business is a general classification of business used by the insurance industry. In some industry sectors like insurance line of business also has a regulatory and accounting definition to meet a statutory set of insurance policies. Many large companies write all lines of insurance.

An insurance company that writes more than one line of insurance is called a multi-line company. Basic Information uAnnual Statements uPrimary financial reports that State Insurance Departments require of all insurers operating in their jurisdictions uRegulatory Usage uCritical financial information to assist regulators in monitoring financial solvency uSolvency adequacy of an insurers net financial resources capital and surplus to support the nature and volume of business written. Line of business definition.