DISASTER
A natural or man-made event that negatively affects life, property, livelihood or industry often resulting in permanent changes to human societies, ecosystems and the environment.
DEATH BENEFIT
(1) For a life insurance contract, the amount of money paid by an insurer to a beneficiary when a person insured under the life insurance policy dies. (2) For an annuity contract, the amount of money paid to a beneficiary if the contract owner dies before the annuity payments begin.
DECLINED RISK
A proposed insured who is considered to present a risk that is too great for an insurer to cover.
DEDUCTIBLE
Amount of loss that the insured pays before the insurance kicks in.
DIRECT WRITTEN PREMIUM
The total premiums received by a property and liability insurance company without any adjustments for the ceding of any portion of these premiums to the reinsures.
DIRECT WRITER
An insurer whose distribution mechanism is either the direct selling system or the exclusive agency system.
DIRECT INCURRED LOSS
The property loss in which the insured peril is the proximate cause of damage or destruction.
DROUGHT
A drought is a long lasting weather pattern consisting of dry conditions with very little or no precipitation. During this period, food and water supplies can run low, and other conditions, such as famine, can result. Droughts can last for several years and particularly damaging in areas where residents depend on agriculture for survival.