Act

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Act

1. See: Activity.

2. In insurance, any deed, especially one that foregoes the possibility of coverage. For example, life insurance policies rarely extend coverage if the policyholder commits suicide. In this case, the suicide is called an act.

ACT

see ADVANCE CORPORATION TAX.
References in periodicals archive ?
Hence there is in Acts a strong contrast between the traditional and official space of the temple and synagogue on the one hand and the house on the other.
While the government will incur the lion's share of losses incurred due to terrorist acts as set forth in the Act, the marketplace is free to determine the cost that building owners must pay in order to obtain coverage against these acts.
Instead, the auditor acts as a broad control over the information by evaluating management's disclosure of the matter in relation to counsel's representations and the criteria contained in FASB Statement no.