Truck Writers: Glossary of Insurance Terms

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	CSA 2010 - A Safety Program for the Future Comprehensive Saftey Analysis 2010, or CSA 2010, is a major Federal Motor Carrier Safety Administration (FMCSA) initiative to improve the effectiveness of FMCSA's compliance and enforcement programs. Its ultimate goal is to achieve a greater reduction in large truck and bus crashes, injuries, and fatalities, while making efficient use of the resources of FMCSA and its state partners. CSA 2010 is the new method by which FMCSA and its state partners will manage compliance and enforcement programs. This new model will feagure a more comprehensive measurement system, a safety fitness determination methodology that is based on performance data and not necessarily tied to an on-site compliance review, and a broader array of progressive interventions. For more information, visit the FMCSA website here: CSA 2010. As always, your Truck Writers agent is prepared to help you with CSA 2010 or any of your other industry and insurance needs!
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JOINT AND SURVIVOR ANNUITY: An annuity with two annuitants, usually spouses. Payments continue until the death of the longest living of the two.
JOINT UNDERWRITING ASSOCIATION / JUA: Insurers which join together to provide coverage for a particular type of risk or size of exposure, when there are difficulties in obtaining coverage in the regular market, and which share in the profits and losses associated with the program. JUAs may be set up to provide auto and homeowners insurance and various commercial coverages, such as medical malpractice. (See Assigned risk plans; Residual market)
JUNK BONDS: Corporate bonds with credit ratings of BB or less. They pay a higher yield than investment grade bonds because issuers have a higher perceived risk of default. Such bonds involve market risk that could force investors, including insurers, to sell the bonds when their value is low. Most states place limits on insurers' investments in these bonds. In general, because property/casualty insurers can be called upon to provide huge sums of money immediately after a disaster, their investments must be liquid. Less than 2 percent are in real estate and a similarly small percentage are in junk bonds.

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