What is the Definition of Annual Statement?

What is the Definition of Annual Statement?

Summary of an insurer’s or reinsurer’s financial operations for a particular year, including a balance sheet. It is filed with the state insurance department of each jurisdiction in which the company is licensed to conduct business.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Insurance?

What is the Definition of Annual Statement?

What is the Definition of Annual Statement?

Check out other definition of insurance terms below:


What is the Meaning of OPERATING EXPENSES In Insurance Terms?

The cost of maintaining a business’s property, includes insurance, property taxes, utilities and rent, but excludes income tax, depreciation and other financing expenses.


What is the Meaning of OPTIONS In Insurance Terms?

Contracts that allow, but do not oblige, the buying or selling of property or assets at a certain date at a set price.


What is the Meaning of ORDINANCE OR LAW COVERAGE In Insurance Terms?

Endorsement to a property policy, including homeowners, that pays for the extra expense of rebuilding to comply with ordinances or laws, often building codes, that did not exist when the building was originally built. For example, a building severely damaged in a hurricane may have to be elevated above the flood line when it is rebuilt. This endorsement would cover part of the additional cost.


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