file leakage
Refers to any situation that results in the overpayment of a loss or in other excessive payments made on a claims file.
subscribed capital
The amount of stock sold by a corporation.
risk appetite
The willingness of an insurer to accept the uncertainty of loss for a certain class of risks.
paid-up capital
Represents that part of subscribed capital that has been paid in full by shareholders.
fiduciary
A person to whom the administration of something is entrusted for the benefit of another. A fiduciary has a greater legal obligation than others to discharge duties honestly and diligently.
producer
A broker or an agent who sells insurance.
direct writer
Insurance company selling directly to the public and not through independent agents or brokers.
