General Insurance Glossary - Starting with Y: Word, Meaning & Terms
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Glossary on General Insurance Terms starting with Y
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YEAR OF ACCOUNT BASIS : Accounting technique practiced related to reinsurance transactions; within this category accounts dealing with premiums and losses during the year being considered irrespective of the origination year of the cession or loss
YIELD : Ratio of the income earned on an investment to the face value of the investment; also known as current yield on the investment
YORK-ANTWERP RULES : Set of rules devised as voluntary code of maintaining universal standardization on treating General Average; provisions in these rules form the basis of adjustments related to general average
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