accommodation line. Insurance. One or more policies that an insurer issues to retain the business of a valued agent, broker, or customer, even though the risk would not be accepted under the insurer’s usual standards.
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Lloyd’s of London. Insurance. 1. A London insurance mart where individual underwriters gather to quote rates and write insurance on a wide variety of risks. 2. A voluntary association of merchants, shipowners, underwriters, and brokers formed not to write policies but instead to issue a notice of an endeavor to members who may individually underwrite
underwriting, n. 1. The act of assuming a risk by insuring it; the insurance of life or property. See INSURANCE. [Cases: Insurance 1515.] 2. The act of agreeing to buy all or part of a new issue of securities to be offered for public sale. [Cases: Securities Regulation 11.18, 60.31. C.J.S. Securities Regulation §§ 69,
mortgage servicing. The administration of a mortgage loan, including the collection of payments, release of liens, and payment of property insurance and taxes. • Servicing is usu. performed by the lender or the lender’s agent, for a fee. [Cases: Mortgages 211. C.J.S. Mortgages §§ 274–276.]
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employee. A person who works in the service of another person (the employer) under an express or implied contract of hire, under which the employer has the right to control the details of work performance. — Also spelled employe. Cf. AGENT(1); INDEPENDENT CONTRACTOR. [Cases: Master and Servant 1. C.J.S. Apprentices §§ 2, 11; Employer–Employee Relationship