Umbrella Liability Coverage Financial Glossary

What is it? Supplemental liability insurance, providing increased protection against lawsuits or other losses for which you are legally responsible.

Finance Term Definition Added By: Julia

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Other Similar Finance Terms:

Financial Term Bankruptcy is A federal law Whereby a persons assets are turned over to a trustee and used to pay off outstanding debts. This usually occurs when someone owes more than they have the ability to repay.

Financial Term Minorities is When a company owns a minority shareholding in another company the accounts will show the proportion of net assets and profits which are attributable to the company rather than to the shareholders of the company with the majority shareholding.

Financial Term discharge is (1) The action of releasing a lien or the document in which the creditor relinquishes a lien. Also known as a satisfaction, a release, a reconveyance, or an extinguishment. However, release tends to be used in connection with both real and personal property, while the discharge, extinguishment, reconveyance, and satisfaction are more often used only in connection with real property.(2) Relief granted to a debtor by a bankruptcy court. Discharge relieves the debtor from all further responsibility for pre-petition debt covered by the discharge.

Financial Term Annuity is This is a series of regular payments that you receive for the rest of your life, in exchange for a lump sum /pension fund that you have built up over your working life.

Financial Term Cost of Capital is The rate that must be earned by the company to satisfy all the firms providers of capital. It is based on the opportunity cost of funds.