Calendar Year Experience
This dealings the premiums and losses entered on accounting records during the 12-month calendar.

Cancelable
An agreement of insurance that may be finished by the insurer or insured at any time. Basically every form of insurance is cancelable, except Life Insurance and those Health Insurance policies designated as an assured renewable or noncancelable.

Capital
Capital has a number of related meanings in economics, investment and accounting. Resources less liabilities, representing the ownership interest in a business. Shareholders equity and retained earnings. Money used to generate income, either as an investment in a business or an income property.

Capitation
Procedure of payment whereby a physician or hospital is paid a fixed amount for each person in a particular plan apart from of the frequency or type of service provided.

Captive Agent
One who sells insurance for only one company as conflicting to an agent who represents a number of companies. A person who represents only one insurance company and is controlled by agreement from submitting business to any other company, unless it is first discarded by the agent’s confined company.

Captive Insurer
A legally recognized insurance company organized and owned by a corporation or firm whose purpose is to use the captive to write its own insurance at rates lower than those of other insurers.

Cash Value
Expected marketplace cost of property if sold today. The amount of cash available to the owner when a policy is surrendered to the life insurance company. The amount the insured would receive if they liquidated their policy before death or prime of life. The insurance contract becomes null and void. Term policies do not have cash value.

Case Management
A organization of coordinating medical services to treat a patient, improve care, and reduce cost. A case supervisor coordinates health care delivery for patients.

Catastrophe
word used for statistical recording purposes to refer to a single occurrence or a series of closely related incidents causing severe insured assets losses totaling more than a given amount.

Cell Phone Insurance
Divide insurance provided to cover cell phones for damage or theft. Policies are frequently sold with the cell phones themselves.

Certificate
An accounting statement issued to individuals insured under a group policy, setting forth the necessary provisions relating to their coverage.

Claims Made Policy
A shape of insurance that pays claims accessible to the insurer during the term of the policy or within a specific term after its expiration. It limits liability insurers’ exposure to unknown future liabilities

Co-insurance
Agreement by which the insurer and the insured divide, in a specific ratio, payment for losses covered by the strategy, after the deductible is met.

Collision Insurance
Collision Insurance is one of the elements of an auto insurance procedure that pays for the repair of a car after a crash

Commission
Segment of the premium paid to the agent as compensation for his services. Fee paid to an agent or insurance seller as a percentage of the policy premium

Credit
Assure to pay in the future in order to buy or borrow in the present. The right to reschedule payment of debt.

Credit Score
The number shaped by an analysis of an individual’s credit history. The use of acknowledgment information affects all clients in many ways, from getting a job, finding a place to live, securing a loan, getting a telephone, and buying insurance.