Glossary | Tomorrowmakers

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Impaired Insurer
An insurance company that is undergoing a financial crisis and is not in a situation to pay off its policy obligations. Though the insurer is not insolvent, there is a high probability that it might not be able fulfil its financial obligations towards the policy holders.

Income Tax
A tax levied by governments on the income earned by individuals and institutions within their jurisdiction.

Indemnity
It is an assurance by one person by means of which he/she agrees to safeguard another person against an anticipated loss.

Inflation
Inflation is the general increase in prices of goods and services which can last for a few months to a couple of years. It is expressed as the rate at which the prices of goods and services rise over time.

Insurable Risk
It is a form of risk which conforms to the rules and statements of the insurance policy in a manner that the insurance criteria are satisfied.

Investment Income
The amount of money earned through the investment portfolio of an insured individual in the form of dividends, interest etc.

IPO (Initial Public Offer)
IPO is the first sale of shares of a company to the public, primarily with the intention of raising money and transforming from a private to a public company.

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