Tag: loss
Uberrimae Fidei Contract
What is 'Uberrimae Fidei Contract' A legal agreement requiring the highest standard good faith. "Uberrimae fidei" or "uberrima fides" is Latin for...
Umpire Clause
What is 'Umpire Clause' The language in an insurance policy that provides for a means of resolution by an unbiased third party...
Depreciation
What is depreciation and how does it work
Depreciation is an accounting method used to spread the cost of a long-term asset over its useful...
Kidnap Insurance
What is 'Kidnap Insurance' A type of insurance designed to protect individuals from the risk of kidnapping. Kidnap insurance often covers other...
Unamortized Bond Premium
What is 'Unamortized Bond Premium' The difference between the par-value or face-value of a bond and the price above this face value,...
Early Amortization
What is 'Early Amortization' A type of credit enhancement used in certain asset backed securities (ABS). Early amortization is an accelerated payment...
Backorder Costs
What is 'Backorder Costs' A cost incurred by a business when it is unable to fill an order and must complete it...
Jerome Kerviel
DefinitionJérôme Kerviel is a French trader who was convicted in the 2008 Société Générale trading loss for breach of trust, forgery and unauthorized use...
Named Perils Insurance Policy
What is 'Named Perils Insurance Policy' A home insurance policy that only provides coverage on losses incurred to your property from hazards...
Bad Debt Expense
What is a 'Bad Debt Expense' Bad debt expense represents the amount of uncollectible accounts receivable that occurs in a given period....