The coverage levels must be detected on at least two times for all insured events
per year of insurance.
that may be covered include: death, diagnosis of a terminal illness, diagnosis of critical illness, disability due to ill health, permanent disability, accidental death.
K&R policies also cover a wide range of expenses related to the insured events
As shown in Figure 1, there are essentially two types of losses that are collateral to insured events
76 billion, had the catastrophe been found to have been two insured events
The most commonly insured events
are discrimination, sexual harassment and wrongful termination, and are the specified perils for most policies.
However, all three classes of notes could incur additional losses if additional insured events
occur before the expiration of the reinsurance agreement on May 31, 2008.
Loss reserves--including those for loss adjustment expenses--are estimates of the amounts to be paid in the future to settle claims related to insured events
that have already occurred.
The net incurred losses and loss adjustment expenses consist of the provision for insured events
of the current year and the increase or decrease in the provision for events of prior years, net of reinsurance.
Visits to this Framework Agreement are subject to the occurrence to be insured events
The calendar year losses and LAE ratio includes changes made during the calendar year in reserves for losses and LAE established for insured events
occurring in the current and prior periods.
Bajaj Allianz will also cover increases in interest expenses caused by delays in any insured events