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Glossary

A B C D E H I L M O P R S U W

Income Statement

A financial statement that gives operating results, such as sales revenue, operating income and net income for a specific period; also referred to as earnings report, operating statement and profit-and-loss statement.

Indemnity Percentage

The percentage of each insured loss that is indemnified by the insurer.

Insured

Also known as Policyholder. The party that purchases the insurance policy and assumes rights and obligations under the policy.

Insurer

Also known as Insurance company. The party offering insurance cover in exchange of premium.