What Is an Alternate Beneficiary? An alternate beneficiary is a term used for the individual who is usually named in a will in the event that a person who is the named beneficiary refuses, disclaims or is unable to accept the inheritance. In an insurance policy, an alternate beneficiary is usually a secondary or contingent
What Is an Alternate Employer Endorsement? An alternate employer endorsement extends existing workers’ compensation coverage to other companies with whom the primary insured may do business. An alternate employer endorsement lists other companies to be included in the policy’s coverage within the policy’s endorsement schedule. It is often used when businesses utilize contracted employees through temporary
What Is Alternative Documentation? Alternative documentation is a documentation process designed to expedite loan approval where the lender accepts certain documents from the borrower as verification of income made on the loan application. Key Takeaways Alternative documentation are documents that serve as proof of income for loans. Examples of such documents are bank statements and
What Is Advanced Internal Rating-Based (AIRB)? An advanced internal rating-based (AIRB) approach to credit risk measurement is a method that requests that all risk components be calculated internally within a financial institution. Advanced internal rating-based (AIRB) can help an institution reduce its capital requirements and credit risk. In addition to the basic internal rating-based (IRB) approach
What Is Air Cargo Insurance? Air cargo insurance is a type of policy that protects a buyer or seller of goods that are being transported through the air. It reimburses the insured for items that are damaged, destroyed, or lost and, in some cases, may even offer compensation for shipment delays. A close cousin of air
What Is a Cryptocurrency Airdrop? A cryptocurrency airdrop is a marketing strategy that involves sending coins or tokens to wallet addresses. Small amounts of the new virtual currency are sent to the wallets of active members of the blockchain community for free or in return for a small service, such as retweeting a post sent
What Is an Airline Industry ETF? An airline industry ETF is a sector exchange-traded fund (ETF) that invests in the stocks of airline companies, so as to obtain investment results that correspond to those of an underlying airline index. In reality, because of the very limited number of airlines in most nations, most ETFs associated
What Is an Air Pocket Stock? A stock that experiences a sudden plunge in price, much like an airplane when hitting an air pocket, is described by stock traders as an air pocket stock. In the case of a stock, the fast drop is caused by unexpected bad news about the company. Investors, like pilots
What Is an Airport Revenue Bond? An airport revenue bond is a type of municipal bond in which the operating revenue of an airport is used to secure the bond. A municipality or airport authority will issue an airport revenue bond, with the funds going toward improving, expanding or building a new airport. In some
What Is an Air Waybill (AWB)? An air waybill (AWB) is a document that accompanies goods shipped by an international air courier to provide detailed information about the shipment and allow it to be tracked. The bill has multiple copies so that each party involved in the shipment can document it. An air waybill (AWB)
