Bailees of Cargo
Persons in temporary possession of cargo that is the property of another; for example, carriers or warehouse keepers
Role
Annuity Contract Owner
The person or entity that purchases an Annuity and has all rights to the contract. Usually, but not always, the Annuitant (the person who receives incomes from the contract).
Annuity Beneficiary
In certain types of annuities, a person who receives Annuity contract payments if the Annuity owner or Annuitant dies while payments are still due.
Annuitant
The person(s) who receives the income from an Annuity contract. Usually the owner of the contract or his or her spouse.
Agent
Insurance is sold by two types of agents: independent agents, who are self-employed, represent several insurance companies and are paid on commission, and exclusive or captive agents, who represent only one insurance company and are either salaried or work on commission. Insurance companies that use exclusive or captive agents are called direct writers.
Adjuster
An individual employed by a property/casualty insurer to evaluate losses and settle policyholder claims. These adjusters differ from public adjusters, who negotiate with insurers on behalf of policyholders, and receive a portion of a claims settlement. Independent adjusters are independent contractors who adjust claims for different insurance companies.
Actuary
An insurance professional skilled in the analysis, evaluation, and management of statistical information. Evaluates insurance firms’ reserves, determines rates and rating methods, and determines other business and financial risks.