- The ability of an insurance company or benefit society to meet accrued obligations and the obligations represented by policies and certificates in force as such appears in funds on hand and the present worth of payments of premiums and assessments to be made in the future by those insured under policies and certificates. Jenkins v Talbot, 338 Ill 441, 170 NE 735, 80 ALR 638.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
solvency — The condition of a person having sufficient assets to meet his obligations as they mature in the ordinary course of business. Ability to pay one s debts, not a mere disposition to pay. Janes v Scott, 59 Pa 178. A word which implies as well the… … Ballentine's law dictionary
Actuarial science — are professionals who are qualified in this field through examinations and experience. Actuarial science includes a number of interrelating subjects, including probability and statistics, finance, and economics. Historically, actuarial science… … Wikipedia
Actuarial Balance — The difference between future Social Security obligations and the income rate of the Social Security Trust Fund as of present. The Social Security program would be said to be in actuarial balance if the summarized income rate is inline with the… … Investment dictionary
actuary — ac·tu·ary / ak chə ˌwer ē, shə / n pl ar·ies: a person who calculates insurance and annuity premiums, reserves, and dividends Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. actuary … Law dictionary
insolvency of insurance company — A depletion of assets to the extent that they are insufficient for the payment of the just debts and obligations of the company. 29 Am J Rev ed Ins § 116. An insurance company is not insolvent when the value of its property is greater than the… … Ballentine's law dictionary
Social Security (United States) — This article is about the retirement/disability program. For the general concept of providing welfare, see Social security. For other uses, see Social Security (disambiguation) … Wikipedia
Dynamic financial analysis — Key Uses Business mix Reinsurance Asset Allocation Profitability Solvency Sensitivity Dependency Elements … Wikipedia
Actuary — Damage from Hurricane Katrina. Actuaries need to estimate long term averages of such damage in order to accurately price property insurance and set appropriate reserves. Occupation Names Actuary … Wikipedia
Social Protection — ▪ 2006 Introduction With medical costs skyrocketing and government programs scaled back, citizens bore more responsibility for their health care costs; irregular migration, human trafficking, and migrant smuggling posed challenges for… … Universalium
Stochastic modelling (insurance) — This page is concerned with the stochastic modelling as applied to the insurance industry. For other stochastic modelling applications, please see Monte Carlo method. For mathematical definition, please see Stochastic process.tochastic model… … Wikipedia