Definitions
This is defined as the cause of loss
What is a Peril?
This is what GammaS.A.I.D. stands for
What is Solutions for Authenticity, Inclusion, and Diversity?
This is what BOP stands for
What is a businessowners policy?
This is a type of banking name that Online lenders (not regulated)
What is Shadow banking?
These products can be purchased to provide financial protection for designated beneficiaries in the event of one’s death.
What is Life Insurance?
This is a condition that creates or increases the frequency or severity of loss
What is a Hazard?
These are the two official GIS colors
What is Black & Gold?
These are the rules that guide underwriters toward consistent decision
What are underwriting guidelines?
This is the term used for Average forward rate
What is zero rate?
This department in an organization often handles benefits for employees, including compensation, time off, health care insurance, etc.
What is the Human Resources department?
This refers to the process of selecting and classifying applicants for insurance
What is Underwriting?
This is the name of my chapter
What is Beta Epsilon Chapter?
This is a loss reserve that is assigned to an individual claim
What is a case reserve?
This is the difference the broker keeps as a fee for creating the market
What is Bid/ask spread?
This perk provided by employers usually includes health care and retirement
What is a full time employee benefits package?
This refers to the identification and analysis of pure risks faced by an individual or family, and to the selection and implementation of the most appropriate technique(s) for treating such risks
What is Personal Risk Management.
This is my title within my chapter
What is the Chapter President?
The insurer’s right to recover its claim payment from the responsible party
What is subrogation?
This is the name for a type of statistics that uses sample data to make inferences or generalizations about a population
What is inferential Statistics?
This formerly popular retirement plan was typically provided for government and public employees
What is a Defined Benefit (DB) Plan/Pension Plan?
This is a corporation owned entirely by the policyholders
What is a mutual insurer?
Based upon four ideals: friendship, knowledge, integrity, and fidelity
What is the Coat of Arms logo?
This “holiday” occurs on April 2 each year to recognize trustees, benefits professionals, etc. for the important role their play in their colleagues’ well-being.
What is National Employee Benefits Day?
These are Secured, unsecured, and Guaranteed
What are the types of loans?
This organization processes insurance claims or administers other insurance-related services for a separate entity.
What is a third-party administrator (TPA)?