Full-time insurance company representative licensed by the state who sells insurance policies and services to the policyholder for the insurer and sends all or almost all of his or her business to that company. He or she may also act as a broker with other companies.
Insurance Encyclopedia
Career average benefit formula
Defined benefit formula in which the retirement benefit amount is based on the participant’s compensation during the entire period of participation in the plan. Also called career earnings benefit formula. See also defined benefit formula .
Career average revalued scheme
Career average scheme under which the benefits are revalued each year by reference to an appropriate index during pensionable service.
Career average scheme
Pension scheme under which the benefits for each year of membership are related to the pensionable earnings for that particular year. See CAREER AVERAGE REVALUED SCHEME.
Career earnings benefit formula
See: career average benefit formula.
Caregiver
Individual who helps care for someone who is ill, disabled, or aged such as a relative or friend who volunteers to help. However, some people provide caregiving services for a cost.
Cargo
Goods transported aboard a vessel or other conveyance not being provisions, stores, equipment or bunker fuel for use on the vessel. The cargo owner’s insurable interest continues for so long as he has title to the goods. There are other cargo interests. The risk factors in marine insurance: mode of transportation; type of goods; packing; size/weight/value; trip route; trip duration; season; socio-economic environment.
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Material or goods carried by ship, rail/road or aero plane.
Cargo Certificate
An insurance contract in which ocean-going cargo is insured.
Cargo Clauses (Air) (excluding sending by post)
Cover is against “all risks” as in ICC (A) except that GA and salvage charges and both to blame collision clauses are omitted, these not being concerned with air transit. Under duty of the assured clause, charges reasonably and properly incurred to avert or minimize an insured loss and pursue recovery rights are also covered. Forwarding charges would be covered under this item, being sue and labor in nature.
Cargo coverage
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