MLchartDataset catalogue

Acquisition costs

Term · Insurance and risk management · MLC-T-INS-000305

Expenses incurred by an insurer to acquire new business, including commissions paid to agents and brokers, underwriting expenses, advertising, and marketing costs. These costs are expensed over the period that the related premiums are earned. They represent a substantial portion of an insurer's operating expenses and are closely monitored for profitability.

Table 1. Record
IdentifierMLC-T-INS-000305
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-000305",
  "term": "Acquisition costs",
  "field": "Insurance and risk management",
  "definition": "Expenses incurred by an insurer to acquire new business, including commissions paid to agents and brokers, underwriting expenses, advertising, and marketing costs. These costs are expensed over the period that the related premiums are earned. They represent a substantial portion of an insurer's operating expenses and are closely monitored for profitability.",
  "url": "https://mlchart.com/terminology/insurance/acquisition-costs/"
}

Record 35 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.