What is the Definition of Collateral?

What is the Definition of Collateral?

Property that is offered to secure a loan or other credit and that becomes subject to seizure on default. Also called security.

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 Collateral?

What is the Definition of Collateral?

Check out other definition of insurance terms below:


What is the Meaning of DIRECT PREMIUMS In Insurance Terms?

Property/casualty premiums collected by the insurer from policyholders, before reinsurance premiums are deducted. Insurers share some direct premiums and the risk involved with their reinsurers.


What is the Meaning of DIRECT SALES/DIRECT RESPONSE In Insurance Terms?

Method of selling insurance directly to the insured through an insurance company’s own employees, through the mail, by telephone or via the Internet. This is in lieu of using captive or exclusive agents.


What is the Meaning of DIRECT WRITERS In Insurance Terms?

Insurance companies that sell directly to the public using exclusive agents or their own employees, through the mail, by telephone or via the Internet. Large insurers, whether predominately direct writers or agency companies, are increasingly using many different channels to sell insurance. In reinsurance, denotes reinsurers that deal directly with the insurance companies they reinsure without using a broker.


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