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What is the Definition of Reserves?

What is the Definition of Reserves?

A company’s best estimate of what it will pay for claims.

Source: Insurance Handbook A guide to insurance: what it does and how it works |

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Reserves?

You can find random definition and meaning of insurance terms below:

What is the meaning of Valued Policy Law

state legislation which specifies that the insured shall receive the face amount of the policy in the event of a total loss to a dwelling rather than the actual cash value regardless of the principle of indemnity.

What is the meaning of Variable Annuity

an annuity contract under which the premium payments are used to purchase stock and the value of each unit is relative to the value of the investment portfolio.

What is the meaning of Variable Life Insurance

life insurance whose face value and/or duration varies depending upon the value of underlying securities.

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