MLchartDataset catalogue

Voluntary reserve

Term · Insurance and risk management · MLC-T-INS-003494

An amount of money set aside by an insurer from its surplus funds, beyond what is legally required, to cover potential future liabilities or unexpected losses. These reserves are established at the discretion of the company's management or board of directors. Unlike statutory reserves, voluntary reserves are not mandated by regulatory bodies.

Table 1. Record
IdentifierMLC-T-INS-003494
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-003494",
  "term": "Voluntary reserve",
  "field": "Insurance and risk management",
  "definition": "An amount of money set aside by an insurer from its surplus funds, beyond what is legally required, to cover potential future liabilities or unexpected losses. These reserves are established at the discretion of the company's management or board of directors. Unlike statutory reserves, voluntary reserves are not mandated by regulatory bodies.",
  "url": "https://mlchart.com/terminology/insurance/voluntary-reserve/"
}

Record 3,599 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.