D
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Death Benefit - The limit of insurance or the amount of benefit that will be paid in the event of the death of a covered person.
Deductible - Amount of loss that the insured pays before the insurance kicks in.
Developed to Net Premiums Earned - The ratio of developed premiums through the year to net premiums earned. If premium growth was relatively steady, and the mix of business by line didn't materially change, this ratio measures whether or not a company's loss reserves are keeping pace with premium growth.
Development to Policyholder Surplus (IRIS) - The ratio measures reserve deficiency or redundancy in relation to policyholder surplus. This ratio reflects the degree to which year-end surplus was either overstated (+) or understated (-) in each of the past several years, if original reserves had been restated to reflect subsequent development through year end.
Direct insurer - an insurer which deals direct with the consumer rather than through an intermediary or agent.
Direct or Held Covered - A condition requiring that the insured voyage be direct from one place to another. If the voyage is delayed en route or there is deviation from the direct route the insurance cover continues subject to payment of an additional premium, but only if the assured gives prompt notice of such delay or deviation immediately on receipt of advice, unless the policy provided otherwise.
Direct Premiums Written - The aggregate amount of recorded originated premiums, other than reinsurance, written during the year, whether collected or not, at the close of the year, plus retrospective audit premium collections, after deducting all return premiums.
Direct Writer - An insurer whose distribution mechanism is either the direct selling system or the exclusive agency system.
Disaster - A disaster is said to have occurred when the normal community and organisational arrangements cannot cope with a hazard impact.
Disease Management - A system of coordinated health-care interventions and communications for patients with certain illnesses.
Disclosure - The duty of the assured and his broker to tell the underwriter every material circumstances before acceptance of the risk.
Dividend - The return of part of the policy's premium for a policy issued on a participating basis by either a mutual or stock insurer. A portion of the surplus paid to the stockholders of a corporation.
Due date - The date a policy is in force to and by when a renewal premium must be paid.
Duty Of Assured Clause - The clause appears in the institute cargo clauses and the institute hull clauses. It brings to the attention of the assured his legal obligation to take such measures as may be necessary to prevent or minimise losses which might be recoverable under the policy. Underwriters will reimburse the assured for reasonable expenses (termed sue and labour charges) incurred pursuant to compliance with this duty. The hull clause also incorporates the “waiver” clause; the latter being shown separately in cargo clauses.
