What Is Ground-Up Loss? Ground-up loss is the total amount of loss that is covered by an insurance policy. Ground-up loss does not include deductibles paid by the insured, nor does it include liabilities ceded to a reinsurance company. Key Takeaways Ground-up loss is the total amount of loss that is covered by an insurance policy.Deductibles
What is Group Banking? Group banking is a term that refers to a type of banking plan offered to groups such as employees in a corporation of people instead of individuals. These plans provide incentives and other benefits for those who participate, which are not readily available to the bank’s other customers. Group banking can
What Is a Group Carve-Out Plan? A group carve-out plan is a type of life insurance benefit employers can use to reward key employees beyond what is available to them through the company’s group term life insurance policy. Key employees may include those with a long tenure at the company, executives, team leaders, or top
What Is Group Depreciation? Group depreciation combines similar fixed assets into a pool with a common cost base for calculating depreciation on financial statements. The assets grouped together should be similar in the way they function, or each asset should be small enough that it is not considered material on its own. Because modern accounting software easily records depreciation for
What Is Group-Home Care? Group-home care is a type of care given to a group of people with similar disabilities within a residence. This kind of treatment option can be offered for those with intellectual disabilities, medical conditions, or a combination of both. Group-home care is also frequently helpful for elderly people who cannot be
What Is Group Life Insurance? Group life insurance is offered by an employer or another large-scale entity, such as an association or labor organization, to its workers or members. It is fairly inexpensive, may even be free for certain employees, and is pretty common nationwide. Group life often has a relatively low coverage amount and
What Is Groupthink? Groupthink is a phenomenon that occurs when a group of individuals reaches a consensus without critical reasoning or evaluation of the consequences or alternatives. Groupthink is based on a common desire not to upset the balance of a group of people. This desire creates a dynamic within a group whereby creativity and individuality
What Is a Growing-Equity Mortgage (GEM)? A growing-equity mortgage (GEM) is a type of fixed-rate mortgage where monthly payments increase over time according to a set schedule, rather than remaining fixed and equal over the loan term. The interest rate on the loan does not change, and there is never any negative amortization. Instead, the
What is a Growth Recession? Growth recession is an expression coined by economist Solomon Fabricant, a professor at New York University, to describe an economy that is growing at such a slow pace that more jobs are being lost than are being added. A growth recession does not reach the severity of a true recession
What Is Growth Accounting? Growth accounting is a quantitative tool used to break down how specific factors contribute to economic growth. Growth accounting focuses on three primary factors: the labor market, capital, and technology. Key Takeaways Growth accounting is a quantitative tool used to break down how specific factors contribute to total GDP growth.The growth accounting
