The Insurance Glossary is divided alphabetically for a quick and handy reference to understand terms used by insurance companies. Select the first letter of the word or term to locate a definition and brief description. For example, if you need help understanding the term "Automobile Liability Insurance" or the word "Premium", simply select either the letter(s) "A" or "P" from the alphabet menu guide below:
Kenney Rule: Concept permitting a property/casualty insurer to write $2 of new net premiums for each $1 of policyholders surplus.
Keogh (HR 10) Account: An account to which a self-employed person can make annual tax deductible contributions and which may be withdrawn without penalty after the age of 59 1/2. Income generated in the account accumulates tax-deferred.
Key-Person Insurance: Insurance designed to protect a business firm against the loss of income resulting from the death or disability of a key employee.
