InsWeb Article: Property Insurance Terms Site Map  |        Learning Center > Other Information > Glossary Auto Life Health Small Business Homeowners Condominium Renters Motorcycle or ATV Watercraft RV Home Warranty   Learn More About...      Auto     Life     Home     Health     Other Please choose a letter 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 Provided by BISYS Education Services, Inc. Property PILR. See Property Insurance Loss Register. (PR) PML. See Probable Maximum Loss. (PR) Peak Season Endorsement. An endorsement which provides increased amounts of coverage on inventories during peak seasons, beginning and ending on

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Press Release 5/19/99 - New York Insurance Department Fines 13 Insurers $229,975 New York State Insurance Department NEW YORK STATE INSURANCE DEPARTMENT FINES 13 INSURERS $229,975 May 19, 1999 Superintendent of Insurance Neil D. Levin today announced that the Department has taken disciplinary action against 13 insurers for violations of New York Insurance laws and regulations. The fines, totaling $229,975 are against the following insurers: Company            Amount of Fine AUSA Life Insurance Company $50,000 Mutual Automobile Insurance Company $50,000 Federal Insurance Company $41,200 Markel Insurance Company $32,850 Amalgamated Life Insurance Company $30,000 American International Insurance Company $

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Stanford GSB: Stanford Business June 1997 Accounting for Insurance Loss Reserves For accountants in the insurance industry, reporting loss reserves presents something of a dilemma. The issue is this: When an insurer incurs a claim it won't have to pay for many years, such as benefit claims tied up in litigation, current accounting standards require that the loss be recorded at "nominal value," the actual dollar amount. However, insurers would prefer reporting it as a discounted "present value" loss, which reflects the fact that the insurer will earn years of interest on the money, thereby reducing its liability. Even though

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