ADJUSTED SURPLUS
An insurance company's surplus that is different from the statutory surplus of the company because of its adjustments. The Adjusted Surplus is calculated by combining the Asset Valuation Reserve, Interest Maintenance Reserve, and statutory surplus.
It is identified through the accounting treatment of liabilities and assets. Insurance companies are obliged by the NAIC (National Association of Insurance Commissioners) to conserve reserves as a cushion for potential credit losses and equity.
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Cancellation
Notification by a broker advising his or her client that an incorrect exchange deal was conducted and that the activity is being pointed out. For e ...
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UFMI
Up-Front Mortgage Insurance (UFMI) is an insurance premium. It is usually collected at the time of the conception of the loan on Federal Housing Ad ...
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