HENRY n.—Gloss: A person who is a High Earner But Not Rich Yet. «“My bonus is ‘shameful’—but I worked hard to get it,” said John Konstantinidis, a wholesale insurance broker, lunching Friday at Harry’s at Hanover Square. “I’m a HENRY,” Mr...
Twin Peaks approach n.— «It was influenced by what is known in regulatory circles as the Twin Peaks approach, used in Australia and the Netherlands. The idea is to create two financial regulators that are given separate responsibilities...
capping n.— «Taghizadeh allegedly paid people to bring him potential litigants to sue auto insurance companies—an illegal practice known as “capping,” said Los Angeles County Deputy Dist. Atty. Gregory Alker of the Automobile...
POD n.— «The mother can designate beneficiaries of the account who will receive the monies in the account upon her death. These accounts are often called “Payable on Death,” or “POD” accounts. They operate similar...
enter runoff v. phr.— «It looks like some insurers will “enter runoff,” that is, do no new business and instead collect their premiums as the bonds they insure mature.» —“Ambac, MBIA Finally Have Their ’Peggy Lee...
pay-as-you-drive insurance n.— «A few years later, Edlin was serving on the President’s Council of Economic Advisers when he floated an idea that economists had long found attractive: pay-as-you-drive (PAYD) insurance. It seemed like an...