Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

mean reserve

Read a random definition: Month-to-Month Tenancy

A quick definition of mean reserve:

A mean reserve is a term used in insurance to refer to the average of the beginning and ending reserves of a policy year. A reserve is a fund of money set aside by a bank or insurance company to cover future liabilities. For example, an insurance company may set aside a mean reserve to cover potential claims from policyholders. This helps ensure that the company has enough money to pay out claims when they arise.

A more thorough explanation:

Definition: Mean reserve is a term used in insurance to refer to the average of the beginning reserve and the ending reserve of a policy year. Reserve, on the other hand, refers to something retained or stored for future use, such as a fund of money set aside by a bank or an insurance company to cover future liabilities.

Examples:

  • Amortization reserve: An account created for bookkeeping purposes to extinguish an obligation gradually over time.
  • Bad-debt reserve: A reserve to cover losses on uncollectible accounts receivable.
  • Legal reserve: The minimum amount of liquid assets that a bank or an insurance company must maintain by law to meet depositors' or claimants' demands.
  • Loss reserve: An insurance company's reserve that represents the estimated value of future payments, as for losses incurred but not yet reported.
  • Policy reserve: An insurance company's reserve that represents the difference between net premiums and expected claims for a given year.
  • Required reserve: The minimum amount of money, as required by the Federal Reserve Board, that a bank must hold in the form of vault cash and deposits with regional Federal Reserve Banks.

For instance, an insurance company may calculate the mean reserve of a policy year by adding the beginning reserve and the ending reserve and dividing the sum by two. This helps the company to estimate the amount of money it needs to set aside to cover future claims. Similarly, a bank may maintain a required reserve to ensure that it has enough cash on hand to meet the demands of its depositors.

mean low tide | means

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.