STOLI n.— «In what has to be the wackiest new trend in life insurance, many consumers are allowing total strangers to place bets on when they will expire—and the sooner they go, the bigger the payoff. It’s called Stranger-Originated Life...
trashout n.— «Professionals in the insurance and lending industry are bracing themselves for all manner of similar situations, as homeowners either trash or simply leave their trash lying around their houses, often taking off without even...
run-off n.— «Michael Callen, who became interim CEO after Robert Genader left, told analysts on a conference call that the company has no plans to stop writing new insurance, a process known as going into “run-off...
slayer statute n.— «According to testimony Friday, Christopher Vaughn was supposed to receive $1 million from a RiverSource life insurance policy. Vaughn, however, has not had access to that money because of an Illinois law commonly...
crowd out n.— «Throwing a wrench in Gov. Eliot Spitzer’s plan are new Bush guidelines that require children be without private insurance for at least a year before being provided SCHIP coverage. The regulations are aimed largely at...
cat bond n.— «His name was John Seo, he was 39 years old and he ran a hedge fund in Westport, Conn., whose chief purpose was to persuade investors to think about catastrophe in the same peculiar way that he did. He had invested nearly a...