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Benson Kearley IFG helps you understand...

The world of insurance can be quite hard to understand. We’re here to provide you with terms you can understand, give you advice and offer our help—all right at your fingertips.

Insurance Glossary



The European, Australian, Far East index complied by Morgan, Stanley. It is a common benchmark for portfolios containing foreign equities.


Any wages, salary, and income from employment.


Amount of money withheld from shareholders (not paid out as dividends) that the company reinvests. A high earnings retention ratio may decrease the amount of money an investor receives today in the form of dividends, but if the company can reinvest the money and earn a higher rate of return, it may result in an increase in the share value of the stock (price appreciation).


Rare phenomenon involving movements of the earth's crust that may be violent enough to cause damage to property or dwellings.


Date on which a transaction comes into force.


A graph with risk and return on the horizontal and vertical axis that illustrates the return characteristics of a portfolio given different weightings of its assets. The ideal portfolio lies on the upper line of the graph. Anything below the Efficient Frontier is inefficient, as a portfolio exists with either a higher return at the same level of risk, or lower risk at the same level of return. An investment advisor may help to identify which portfolios lie on the efficient frontier for an individual with a certain level of risk tolerance.


A theory stating that prices of securities reflect all information available. It assumes individual investors are aware of the same events as the management of a corporation.


The fraudulent use of money or property, which has been entrusted to one's care.


Coverage against common law liability of an employer for accidents to employees, as distinguished from liability imposed by a workers' compensation law.


An amendment added to a written document, particularly an agreement between parties, such as an insurance policy, altering its provisions.


Value of a property in excess of claims or liens against it.


Risks, perils or properties defined in the policy as not covered.


Material used to build the outer walls of a dwelling. Also referred to as Exterior cladding.


The date upon which a policy will end.


Degree of hazard threatening a risk because of external or internal physical conditions.


A common extension of property insurance beyond coverage for fire and lightning. Extended coverage adds insurance against loss by the perils of windstorm, hail, explosion, riot and riot attending a strike (civil commotion), aircraft damage, vehicle damage, smoke damage and volcanic eruption.

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