Effective October 1, 2023, Rooney Insurance will be located at 5100 E Skelly Dr, Suite 1010 in Tulsa, Oklahoma

918.582.0565

918.582.0565

Insurance Terminology

Every industry has its own language. The Insurance industry is no exception. To help you with some of the more
commonly used terminology we have put together a glossary of terms below.

Insurance and Risk Management Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

“absolute” exclusions

absolute pollution exclusion

accidental death

accidental death and dismemberment (AD&D)

accidental means

accident year data

accident year experience

accommodation line

accountants professional liability insurance

account current

accounts receivable coverage

Accredited Adviser in Insurance (AAI)

accumulation period

acquisition costs

act-as-one provision

action versus the insurer provision

active retention

activity standards

actual cash value (ACV)

actuarial report

ADA Amendments Act (ADAAA) of 2008

additional expense coverage

additional insured

additional insured endorsement

additional living expense (ALE) coverage

additional medical

additional named insured

add-on control device

“add-on” no-fault laws

adhesion contract

adjustable feature

adjusted earnings

adjusted net worth

administrative law

administrative order

administrative order on consent

administrative services only (ASO)

admitted assets

admitted/authorized reinsurance

admitted company

admitted insurance

admitted insurer

admitted reinsurer

advanced wastewater treatment

advance loss of profit (ALOP) insurance

advancement of defense costs provision

adverse selection

advertising injury

advisory endorsement

aerobic treatment

affiliated companies

affiliated risk

affirmative defense

aftermarket parts

Age Discrimination in Employment Act (ADEA) of 1967

agency agreement

agency construction management

agent of record

agents errors and omissions

agent’s license

aggregate deductible

aggregate excess insurance

aggregate excess of loss reinsurance

aggregate limit of liability

aggregate limits reinstatement

aggregate stop-loss reinsurance

agreed amount clause

agreed value coverage option or provision

agreement not to rely on governmental immunity

airborne particulates

aircraft insurance policies

airport premises liability, aircraft

air quality control region

air quality standards

aleatory contract

alienated premises

allied healthcare professional liability insurance

all inclusive coverage

allocated expenses

allocated loss adjustment expense (ALAE)

allocated loss expense

all risks coverage

all risks, difference-in-conditions (builders risk)

all risks, ground and flight

all risks, not in motion

alternate employer endorsement

alternative dispute resolution (ADR)

alternative dispute resolution provision

alternative market

alternative remedial contract strategy contractors

alternative risk financing facilities

alternative risk financing mechanism

alternative risk transfer (ART) market

A.M. Best rating

amendment of “insured contract” definition endorsement

AMERCO v. Commissioner

American Association of Insurance Services (AAIS)

American Institute for Chartered Property Casualty Underwriters (AICPCU)

American Institute of Architects (AIA)

American Institute of Certified Public Accountants (AICPA)

American Insurance Association (AIA)

American Society for Testing and Materials (ASTM)

Americans with Disabilities Act (ADA) of 1990

American Trucking Associations, Inc. (ATA)

analytic risk modeling method

animal mortality insurance

anniversary date

anniversary rating date

annual aggregate deductible

annual statement

annuity certain

anti-concurrent causation (ACC) language

anti-concurrent cause (ACC) provision

anti-indemnity statute

anti-stacking provisions

antitheft device

antitrust liability

apparent agency

application of retention

appraisal clause

appraisers errors and omissions

arbitration clause

architects and engineers (A&E) liability coverage

asbestos abatement

asbestos-containing material (ACM)

asbestos program manager

assessment company (society or insurer)

asset allocation

asset share value

assigned risk plan

Associated General Contractors of America (AGC)

Associate in Automation Management (AAM)

Associate in Claims (AIC)

Associate in Fidelity and Surety Bonding (AFSB)

Associate in Information Technology (AIT)

Associate in Insurance Accounting and Finance (AIAF)

Associate in Insurance Services (AIS)

Associate in Loss Control Management (ALCM)

Associate in Management (AIM)

Associate in Marine Insurance Management (AMIM)

Associate in Personal Insurance (API)

Associate in Premium Auditing (APA)

Associate in Reinsurance (ARe)

Associate in Research and Planning (ARP)

Associate in Risk Management (ARM)

Associate in Surplus Lines Insurance (ASLI)

Associate in Underwriting (AU)

Associateship of the Chartered Insurance Institute (ACII)

associational discrimination

association captive

association group

Association of Trial Lawyers of America (ATLA)

association professional liability insurance

assumed liability

assumed premiums

assumed reinsurance

assumption endorsement

assumption of liability agreement

assumption of liability endorsement (ALE)

assumption of risk

assumption of risk doctrine

as their interests may appear (ATIMA)

at-risk construction management

attachment basis

attachment point

attorney/client communication

attorney work product

attractive nuisance doctrine

A201 construction contract

auction rate security (ARS)

authorized nonadmitted reinsurer

auto coverage symbols

auto loan/lease gap coverage

automatic additional insured endorsement

automatic increase in insurance provision

automatic insureds

automatic premium loan

automatic treaty

Automobile Claim Law Associate (ACLA)

Automobile Claim Law Specialist (ACLS)

automobile liability excess indemnity

automobile liability insurance

automobile physical damage insurance

average severity

average weekly wage (AWW)

aviation accident insurance

aviation hazard

awareness provisions

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

B

backdated liability insurance

back-to-back deductible

bailee coverage

balance billing

bankers professional liability (BPL) insurance (BPLI)

bankruptcy condition

bareboat charter

bare walls coverage

Basel Committee on Banking Supervision

basic causes of loss form (ISO)

basic extended reporting period (BERP)

basic premium factor

basket aggregate

basket deductible

basket retention

below-target-risk (BTR)

bench-scale tests

benefits payable exclusion

best available control measures (BACM)

best demonstrated available technology (BDAT)

Best’s Capital Adequacy Ratio (BCAR)

Best’s rating

betterment clause

bikini deductible

bilateral extended reporting period provision

bingo card program

biological magnification

biomechanical analysis

Bipartisan Campaign Reform Act of 2002

Black Lung Benefits Act of 1973

blackmail settlement clause

blackout period

blanket additional insured endorsement

blanket contractual liability insurance

blanket fidelity bond

blanket group boiler and machinery coverage

blanket medical expense

blanket position bond

blended finite risk

blowout and cratering

blowout prevention warranty

board committees

boards and bureaus

boatowners policy

bobtail liability

bodily injury (BI)

bodily injury by accident limit (workers compensation)

bodily injury by disease, each employee (workers compensation)

bodily injury by disease—policy limit (workers compensation)

boiler and machinery (BM) insurance

borderline risk

Bornhuetter-Ferguson technique

borrowed servant rule

boutique law firm

branch profits tax

brand rehabilitation

brands and labels endorsement

breach of contract

breach of warranty clause

British business interruption coverage

broadcasters liability

broad causes of loss form (ISO)

broad evidence rule

broad form comprehensive general liability (BFCGL) endorsement

broad form contractual liability insurance

broad form drive other car coverage

broad form hold harmless clause

broad form named insured endorsement

broad form pollution exclusion

broad form property damage (BFPD)

brokerage department

brokerage market

brother-sister relationship

Brownian motion

browse-wrap agreement

builders risk policy

building and personal property coverage form (ISO)

building codes effectiveness grading schedule (BCEGS)

building information modeling (BIM)

building ordinance coverage

burden of proof

business auto policy (BAP)

business continuity management (BCM)

business continuity plan (BCP)

business income coverage

business income worksheet

business interruption coverage

business interruption worksheet

business judgment rule

business legal expense insurance

businessowners policy (BOP)

business use class

“but for” cause

but for evidentiary standard (in employment discrimination cases)

“but for” test

buyback deductible

buyers’ market

buyout settlement clause

buy/sell agreement

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

C

Cable Communications Policy Act (CPPA) of 1984

calendar year experience

cancel and rewrite

candidate analysis

capital adequacy

capital allocation

Capital Asset Pricing Model (CAPM)

capital at risk

capital attribution

capital markets

capital stock company

capital structure

captain of the ship doctrine

captive facility

Captive Insurance Companies Association (CICA)

captive management company

captive value added (CVA)

care, custody, or control (CCC)

cargo insurance

Carmack Amendment

Carriage of Goods by Sea Act (COGSA) of 1936

carryover provision

case management

case reserves cash flow plans

cash balance pension plans

cash flow program

cash flow return on investments (CFROI)

cash flow underwriting

cash refund annuity

cash surrender value

Casualty Claim Law Associate (CCLA)

Casualty Claim Law Specialist (CCLS)

casualty insurance

catastrophe bond

catastrophe equity put

catastrophe plan

catastrophe policy

catastrophe reinsurance

catastrophe reserves

catastrophic loss

Category 3 water

causes of loss forms (ISO)

ceding commission

Centers for Medicare and Medicaid Services (CMS)

central collection point

central tendency

certificate holder

certificate of compliance

certificate of insurance

certificate of reinsurance

certified act of terrorism

Certified Risk Manager (CRM)

cession statement

chaplain or priest malpractice

Chartered Insurance Institute (CII)

Chartered Life Underwriter (CLU)

Chartered Property Casualty Underwriter (CPCU)

charterers legal liability coverage

chemical, biological, radiological, nuclear (CBRN) weapon

chief risk officer (CRO)

Children’s Online Privacy Protection Act (COPPA) of 1998

choice no-fault

chronic toxicity

chronological stabilization plans

Civil Rights Act of 1991

claims adjuster

claims administrator

claims leakage (CL)

claims-made and reported policy

claims-made and reported provision

claims-made coverage trigger

claims-made multiplier

claims-made policy

claims-made reinsurance

claims-paid policy

Class Action Fairness Act of 2005

classification limitation

classified insurance

class of business

Class 1 insureds

Class 2 insureds

clawback provision

Clean Air Act (CAA) of 1970

Clean Water Act (CWA) of 1972

click-wrap agreement

client employer

climate change risk

clinical patterns

closed-loop recycling

cloud computing

coincidental excess coverage

coinsurance hammer clause

coinsurance provision

collapse additional coverage

collapse: homeowners policy

collateral agreement

collateral documents

collateral estoppel

collateralization of cash flow programs

collateral source rule

collateral value insurance

collection commission

collision damage waiver (CDW)

collision insurance

combination plan reinsurance

combination policy

combined additional coverage (CAC)

combined single limits

commercial appropriation

commercial auto insurance coverage forms

commercial crime policy

commercial general liability (CGL) policy

commercial insurer or reinsurer

commercial lines

Commercial Lines Manual (CLM)

commercial multiple peril (CMP) policy

commercial output policy (COP)

commercial package policy

commercial property conditions form (ISO)

commercial property coverage forms (ISO)

commercial property policy

commercial property program

commercial risks

commercial waste management facility

commissioners standard ordinary 1958 mortality table

commissions of selling agents coverage

Committee of Sponsoring Organizations (COSO)

common accident

common disaster

common law defenses

common law liability

common policy conditions

communicable disease

community property

community rating

Community Rating System (CRS)

commutation agreement

commutation clause

commutation rights

comparative negligence

Compensated Intercorporate Hauling (CIH)

compensating balance plan

compensatory damages

competitive bidding

competitive state funds

completed operations

complete retention

composite rating

comprehensive auto coverage

comprehensive auto liability (CAL)

comprehensive boiler and machinery coverage

Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) of 1980

comprehensive general liability (CGL) policy

comprehensive personal liability

comprehensive 3-D policy

compulsory insurance

compulsory insurance requirements (international insurance)

computer crime insurance

computer fraud coverage form

computer software design errors and omissions

concurrent causation

concurrent cause

concurrent insurance

conditional binding receipt

conditionally renewable

conditional payment clause

conditional vesting

condominium association coverage form (ISO)

confidence intervals (levels)

confiscation, expropriation, nationalization (CEN), and deprivation (CEND) insurance

conflict of laws

consent judgment

consent to settlement clause

consequential bodily injury suits

consequential damages

consequential loss

consolidated insurance program (CIP)

Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985

constructibility review

construction ban

construction defect

construction management (CM)

construction management agency

construction management at-risk

construction management professional liability insurance

Construction Risk and Insurance Specialist (CRIS)

constructive discharge

constructive notice

constructive total loss

contestable clause

contingency fee

contingency plan

contingency planning

contingency reserve

contingent annuitant

contingent beneficiary

contingent business interruption insurance

contingent commission

contingent extra expense insurance

contingent insurance

contingent liability from operation of building codes

continuation of coverage in bankruptcy provision

continuing undertaking rule

continuous contract

continuous injury trigger

continuous treatment rule

contract attorney

contract carrier

contract certainty

contract of adhesion

contractor controlled insurance program (CCIP)

contractors all risks (CAR) insurance

contractors environmental liability (CEL) insurance

contractor’s limitation endorsement

contractors professional liability insurance

contractors rework coverage

contract ratification indemnity

contract repudiation indemnity

contractual liability

contractual liability insurance

contractual risk transfer

contra proferentem rule

contribution by equal shares

contribution by limits

contributory negligence

controlled foreign corporation (CFC)

controlled insurance program (CIP)

controlled master insurance program

controlled unrelated business

Controlling the Assault of Non-Solicited Pornography and Marketing (CAN-SPAM) Act of 2003

control technique guidelines (CTG)

conventional subrogation

convention blank

convention statement

convergence (of the capital and insurance markets)

converted losses

cooperation clause

cooperative controlled insurance program (CO-CIP)

cooperative insurance

Coordinated Advertising, Rate and Form Review Authority (CARFRA)

coordination of coverage

corporate counsel

corporate governance

corporate override agreement

corporate reimbursement coverage

correlation/uncorrelation

corridor deductible

corridor self-insured retention

cost and freight (C and F)

cost, insurance, and freight (CIF)

cost of hire endorsement

cost of suit coverage

cost of well control

counseling liability

counsel selection provision

countersignature

coupon interest

course of employment

courthouse steps settlement

covenant not to execute

covenant not to sue

covenants, conditions, and restrictions (CC&R)

coverage trigger

covered auto designation symbols

cradle-to-grave or manifest system

credentialing liability

credit carry-forward

credit default swap

credit for reinsurance

credit insurance

credit life insurance

crisis management approach

crisis management coverage

crisis management plan

criteria pollutant

critical recommendation

crop-hail insurance

cross-complainant

cross-complaint

cross-defendant

cross-liability coverage

cross-liability endorsement

cumulative collusive excess cover

cumulative injury

current disbursement

current service benefit

customer’s auto

cut through endorsement

cyber and privacy insurance

cyber extortion

cyberspace liability

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

D

“damages reduction” provision

“damage to premises rented to you”

damage to rented premises liability coverage–garages endorsement

data processing coverage

data processors errors and omissions coverage

dealers driveaway collision

Death on the High Seas Act (DOHSA) of 1920

debit life insurance

decennial liability

declaratory judgment

deductible, annual aggregate

deductible plan

deductible reduction incentive provisions

default insurance

Defense Base Act

defense costs endorsements

defense-only coverage

defense within limits

deferred acquisition cost (DAC)

deferred group annuity

deferred payment merchandise

deferred premiums

deferred tax asset

deficit carry-forward or carry-back

defined benefit plan

defined contribution plan

delayed completion coverage

delay in start-up (DSU) insurance

demand trigger coverage

demolition coverage

demutualization

denial of service (DoS) attack

denial of tenure claims

Department of Labor (DOL)

Department of Transportation (DOT)

dependent properties time element coverage

deposit accounting

deposit premium

derivative contract

derivative lawsuits

designated construction project general aggregate limit endorsement

designated contractor

designated employees

designated insured endorsement

designated operations exclusion endorsement

designated pollutant

designated workplaces exclusion endorsement

design-build professional liability insurance

design liability

destroyed medical waste

destruction and removal efficiency (DRE)

development factor

difference-in-conditions (DIC) insurance

difference-in-limits (DIL) clause

difference-in-limits (DIL) policy

Digital Flood Insurance Rate Map (DFIRM)

diminution in value (auto)

diminution in value (property)

direct damage coverage

direct discharger

direct filtration

Directive on Data Protection

directors and officers (D&O) liability insurance

direct premiums

direct response marketing

direct selling system (direct marketing)

direct writing captive

direct writing carrier

direct written premium

disability benefit

disability income insurance

disappearing deductible

disaster recovery plan

disciplinary proceeding expense coverage

disclosure dollar loss (DDL)

discounted cash flow (DCF) analysis

discovery cover

discovery period

discovery provision

disease loading

disintermediation risk

disparagement of goods

disparate impact discrimination

disparate treatment discrimination

distribution system

diversification

diversification credit

divided risk endorsement

dividend accumulation

dividend addition

dividend options

divisible contract clause

docket control system

domestic insurer

domestic terrorism

domicile manager

dose-response assessment

dose-response relationship

double excess coverage

double indemnity

double protection

downsizing exclusion

draft authority

dramshop liability

drive other car endorsement

Driver’s Privacy Protection Act (DPPA) of 1994

drop down provision

druggist liability insurance

dry pipe sprinkler system

dwelling property coverage forms

dynamic financial analysis (DFA)

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

E

earned reinsurance premium

earnings before interest, dividends, depreciation, and amortization (EBIDDA)

earnings guidance

earnings insurance

earth movement or earthquake exclusion

earthquake coverage

easement appurtenant

easement by prescription

easement, public

ecological risk assessment

economic capital

economic cost of ruin (ECOR)

economic damages

Economic Loss Doctrine

economic or use value

economic value added (EVA)

educators legal liability (ELL) insurance

effective tax rate

efficacy insurance

efficient cause

election window

elective benefits

electrical damage or injury exclusion

electronic commerce (E-commerce)

Electronic Communications Privacy Act (ECPA) of 1986

electronic contract (E-contract)

electronic data liability

electronic data processing (EDP) coverage

electronic funds transfer (EFT) system coverage

electronic products errors and omissions insurance

electronic record

electronic signature

elevator insurance

eligibility period

elimination period

emergency medical technician (EMT) and paramedics professional liability

emergency response plan

emergency response values

employed lawyers professional liability insurance

employee as lessor endorsement

employee assistance program (EAP)

employee benefit programs

employee benefits liability

employee dishonesty coverage

employee hired autos endorsement

employee leasing

employee leasing company

employee pension benefit plans

Employee Retirement Income Security Act liability

Employee Retirement Income Security Act (ERISA) of 1974

Employee Retirement Income Security Act Section 510

Employee Retirement Income Security Act Section 404(c)

Employee Retirement Income Security Act stock drop litigation

Employee Retirement Income Security Act “tag-along” claims

employees as additional insureds

employees as insureds endorsement

employee stock ownership plan (ESOP)

employee stock purchase plan

employee welfare benefit plans

employers excess indemnity insurance

employers liability coverage

Employment Arbitration Agreement

employment-at-will doctrine

employment practices liability insurance (EPLI)

employment-related practices liability (ERPL) policy

employment risk

endangerment assessment

endemic disease coverage

endowment insurance

energy release theory

enforceable requirements

enforcement decision document (EDD)

engaged in trade or business (ETB)

engagement letter

engineering insurance

Engineers Joint Contracts Documents Committee (EJCDC)

ensuing loss clause

enterprise risk management (ERM)

entire contract clause

entity coverage

entity securities coverage

environmental assessment

environmental audit

environmental impact statement

environmental impairment liability (EIL) insurance

environmental liability buyout

Environmental Monitoring and Assessment Program (EMAP) data

environmental stop loss insurance

Equal Employment Opportunity Commission (EEOC)

Equal Pay Act of 1963

equipment breakdown insurance

equipment floater

equitable estoppel

equitable subrogation

equity stripping

erection all risks (EAR) insurance

error or omission in reporting endorsement

errors and omissions (E&O) clause

errors and omissions (E&O) insurance

escape provision

essential functions

estimated premium

event insurance

event triggered financings

evidence of insurability

examination under oath (EUO)

exception (to exclusion)

excess ad damnum letter

excess and surplus (E&S) lines insurance

excess insurance

excess interest

excessive fee claims

excess liability “follow form” policy

excess liability policy

excess lines broker

excess loss premium (ELP) factor

excess of loss ratio reinsurance

excess of loss reinsurance

excess per risk reinsurance

excess workers compensation insurance

exchange transfer embargo indemnity

exclusive agency system

exclusive remedy

exculpatory clause

executive officer

exemplary damages

exempt motor carrier

ex gratia payment

exhibitor insurance

ex-medical coverage

ex parte hearings

expected morbidity

expected mortality

expected or intended

expected reinsurer deficit (ERD)

expediting expense

expediting expense coverage

expense allowance

expense constant

expense reserve

experience account

experience modification

experience modifier

experience rating

experience refund

expiration file

expiration notice

export and/or import embargo indemnity

exposure-in-residence theory

exposure rating

exposure survey

express authority

extended coverage (EC) endorsement

extended discovery period

extended discovery provision

extended period of indemnity endorsement or option

extended reporting period (ERP)

extended term insurance

exterior insulation and finish systems (EIFS)

extortion coverage form G

extracontractual damages

extracontractual obligations (ECO)

extra expense coverage

extra percentage tables

extraterritorial coverage

extremely hazardous substances

“extrinsic facts” test

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

F

facility emergency coordinator

facultative automatic

facultative obligatory treaty

facultative reinsurance

failure to collect contributions exclusion

failure to fund in accordance with ERISA exclusion

failure to insure exclusion

Fair Access to Insurance Requirements (FAIR) plans

Fair Credit Reporting Act (FCRA) of 1970

Fair Labor Standards Act (FLSA) of 1938

fair rental value (FRV) coverage

faithful performance coverage

false pretense, trick, and device

Family and Medical Leave Act (FMLA) of 1993

family exclusion

farmowners insurance

farm umbrella policy

f-cubed litigation

feasibility study

Federal Arbitration Act (FAA)

Federal Coal Mine Safety and Health Act (FCMS&HA) of 1969

federal crop insurance

Federal Emergency Management Agency (FEMA)

Federal Employers Liability Act (FELA) of 1908

federal excise tax (FET)

Federal Highway Administration (FHWA)

Federal Insurance Contribution Act (FICA) of 1935

Federal Motor Carrier Safety Administration (FMCSA)

Federal Motor Carrier Safety Regulations (FMCSR)

Federal Savings and Loan Insurance Corporation (FSLIC)

fee-for-service

fellow employee coverage

fellow employee exclusion

fellow employee suits coverage

Fellow in Risk Management (FRM)

Fellowship of the Chartered Insurance Institute (FCII)

fiduciary liability

fiduciary liability endorsement

fiduciary liability “follow-on” claims

field service advice (FSA)

financed insurance

Financial Accounting Standards Board (FASB)

Financial Anti-Terrorism Act (FATA or PATRIOT Act) of 2001

financial capacity

financial disclosure claims

financial guarantee insurance

financial institution bond

Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)

financial modeling

financial quota share

financial reinsurance

financial responsibility

financial responsibility law

financial restatement

financial restatement exclusion

financial risk management

financial statement

financial transformation (FT)

fine arts coverage

finite risk insurance

fire department service charge coverage

fire legal liability coverage

fire-resistive construction

“first bite”

first class mail coverage

first dollar coverage

first dollar defense coverage

first dollar defense, umbrella

first named insured

first-party insurance

first surplus reinsurance treaty

fixed-cost insurance

flat cancellation

flat commission

fleet automatic, auto

fleet of companies

fleet policy, aircraft

fleet policy, auto

floating excess policy

flood exclusion

flood insurance rate map (FIRM)

follow form professional liability endorsement

following reinsurer

following the fortunes

force majeure insurance

foreign commerce

Foreign Corrupt Practices Act (FCPA) of 1977

foreign-cubed litigation

foreign currency controls

foreign insurer

foreign liability coverage

foreign title equivalent coverage provision

forgery or alteration coverage

“for-hire” motor carrier

fortuitous event

forum selection clause

forward contract

“four-corners” test

fractional premium

frame construction

franchise deductible

franchise inflation clause

franchise insurance

fraternal benefit society

Fraud Claim Law Associate (FCLA)

Fraud Claim Law Specialist (FCLS)

free alongside (FAS)

free of capture and seizure (FC&S) warranty

free of particular average (American conditions) (FPAAC)

free of particular average (English conditions) (FPAEC)

free of particular average (FPA)

free on board (FOB)

free on board destination

freight forwarder

friable asbestos

fronted captive

full preliminary term reserve valuation

full prior acts coverage

full-timers coverage

fully insured status

fully paid policy

functional capacity evaluation (FCE)

functional job description

functional replacement cost

functional replacement cost provision or endorsement

fundamental risk

fund control agreement

funded pension plan

funded retention

funded self-insurance

fund states coverage

furriers block policy

furriers customers insurance

futures contract

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

G

garagekeepers coverage/garagekeepers legal liability

garagekeepers extra legal liability

garage liability insurance

garment contractors floater

General Adjustment Bureau (GAB)

general agency system

general aggregate limit

general average losses

general counsel

general damages

general duty clause

general employer

general exclusions

general inclusions

general indemnity clause

general liability insurance

Generally Accepted Accounting Principles (GAAP)

general maritime law

general supervision

Genetic Information Nondiscrimination Act (GINA) of 2008

geographical (coverage territory) limitations

glass insurance

global insurance program

good faith settlement

“good guy” letter

Good Samaritan statutes

good student discount

governing classification

graded commission

graduated drivers licenses

Gramm-Leach-Bliley (GLB) Act of 1999

greenmail exclusion

green upgrades coverage

gross cessation

gross combination weight (GCW)

gross domestic product (GDP)

gross earnings coverage

gross loss reserves

gross negligence

gross profits insurance

gross receipts or mileage, auto

gross vehicle weight (GVW)

gross written premium (GWP)

ground coverage

group certificate

group credit insurance

group insurance

group of companies

group-owned captive

group practice health maintenance organization

group property and liability insurance

group self-insurance

guaranteed auto protection (GAP)

guaranteed cost

guaranteed cost discount (GCD)

guaranteed cost insurance

guaranteed cost premium

guaranteed insurability

guaranteed investment contract (GIC)

guaranteed renewable

guaranty agreement

guardian ad litem

guests’ property, premises

guests’ property, safe deposit box

guest statutes, auto

guest voluntary settlement, aircraft

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

H

hangar keepers liability

Harper Group v. Commissioner

hazard class pricing

hazardous ranking system (HRS)

hazardous waste

healing plateau

healthcare purchasers liability insurance

healthcare reimbursement plan

Health Insurance Portability and Accountability Act (HIPAA) of 1996

health maintenance organization (HMO)

hedge instrument

hedging transaction

highly protected risk (HPR) property

high-risk community

Highway Loss Data Institute (HLDI)

hired automobile

historical cost

hold harmless agreement

holding power formula

holistic risk management

homebuilder wrap-up

home equity insurance

homeowners modified form 8 (HO 8)

homeowners policy

homeowners policy basic form 1 (HO 1)

homeowners policy broad form 2 (HO 2)

homeowners policy comprehensive form 5 (HO 5)

homeowners policy contents broad form 4 (HO 4)

homeowners policy special form 3 (HO 3)

homeowners policy unit owners form 6 (HO 6)

honorable engagement or undertaking

horizontal exhaustion rule

hospital income insurance

hospital medicine

hospital professional liability (HPL) insurance

hostile work environment sexual harassment

host liquor liability

Household Goods Transportation Act of 1980

hull (physical damage) coverages, aircraft

Humana v. Commissioner

human equivalent dose

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

I

identity theft coverage

idiopathic injury

immediate annuity

immediately dangerous to life and health (IDLH)

immigration violation coverage endorsement

impaired property

impairment capital

implied authority

implied warranty

improvements and betterments

in camera proceedings

Inchmaree clause

incidence of ownership

incidental malpractice

incident reporting provision

incontestable clause

incorporation doctrine

increased cost of construction

increased limit factors

increased limits table

incurred but not enough (IBNE)

incurred but not reported (IBNR) losses

incurred expense

incurred losses

incurred loss ratio

incurred loss retro

indemnification

indemnity clause

indemnity contract

indemnity payments

independent adjuster

independent agency system

independent contractor

independent directors policies

independently filed form

independent medical examination (IME)

independent practice association (IPA)

index-based contracts

indexed deductible

indexing, indexation

indirect damage loss

Individual Risk Premium Modification (IRPM)

industrial hygiene control

industrial insured

industrial insured group

industrial life insurance

inflation clause

inflation factor

inflation guard provision

informal retention

information page

Information Practices Act (SB 1386) of 1977

informed consent

inherent defects insurance (IDI)

in-house counsel

initial premium

initial public offering (IPO)

initial public offering laddering claims

inland marine coverage

innkeepers legal liability

in rem endorsement

inside adjuster

inside directors

insider trading

insolvency clause

inspection bureau

inspection fees

inspection reports

installation floater

installment settlement

installment tail coverage

insurable interest

insurance agents errors and omissions

insurance commissioner

insurance contract

insurance department

insurance examiner

insurance exchange

Insurance Information Institute (III)

Insurance Institute for Highway Safety (IIHS)

insurance policy

Insurance Regulatory Information System (IRIS)

insurance requirements

insurance risk management

insurance risk score

insurance risk scoring

Insurance Services Office, Inc. (ISO)

insurance to value

insured contract

insured fixed-price cleanup (IFC)

insured versus insured exclusion

insurer insolvency exclusion

insurer-sponsored agency captive

insuring agreement

integrated disability management (IDM)

integrated excess policies

integrated project delivery (IPD)

integrated risk

intellectual property

intellectual property defense cost reimbursement insurance

intellectual property infringement abatement insurance

interchange agreements

interest rate risk

interim (permit) status

inter-insurance exchange

Interjurisdictional Agreement on Workers Compensation (IJA)

Interjurisdictional Trucking Agreement (ITA)

interlocutory appeal

intermediary clause

Intermodal Surface Transportation Efficiency Act (ISTEA) of 1991

International Fuel Tax Agreement (IFTA)

International Registration Plan (IRP)

international reverse business

interpolicy stacking

interrelated claims provisions

interstate commerce

Interstate Commerce Act of 1887

Interstate Commerce Commission (ICC)

Interstate Commerce Commission Termination Act of 1995

interstate experience rating

intrafamily immunity

intrapolicy stacking

intrastate commerce

intrastate experience rating

invasion of privacy

Investment Company Act of 1940

investment income

investment risk

irrevocable beneficiary

irrevocable letter of credit (ILOC)

issued business

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

J

jewelers block insurance

job safety analysis (JSA)

joint and several liability

joint and survivorship annuity

Joint Commission on Accreditation of Healthcare Organizations (JCAHO)

joint insurance

joint underwriting association (JUA)

joisted masonry construction

Jones Act (Merchant Marine Act of 1920)

judgmental immunity

jumping juvenile insurance

Jumpstart Our Business Startups (JOBS) Act

jury waiver provision

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

K

key man insurance

kidnap/ransom insurance

known loss provision

known loss rule

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

L

labor contractor

Lamb-Weston rule

laptop exclusion

large deductible plan

large line capacity

laser exclusion

last injurious exposure

laundry listing

law enforcement officers liability

law of large numbers

lawyers professional liability coverage

lay-up warranty

LC5-lethal concentration

LD50-lethal dose

lean construction

leasehold interest

legal action against insurer

legal liability coverage form (ISO)

Legal Principles Claim Specialist (LPCS)

lender liability

lenders liability coverage

lenders loss payable endorsement

lessees of safe deposit boxes coverage form I

less than truckload (LTL)

letter of credit (LOC)

liability for guests’ property, premises coverage form L

liability for guests’ property, safe deposit box coverage form K

liability insurance

liability limits

Liability Risk Retention Act of 1996

liberalization clause

license and permit bond

licensed insurer/reinsurer

life expectancy

life insurance trust

Life Office Management Association (LOMA)

Life Underwriter Training Council (LUTC)

Lilly Ledbetter Fair Pay Act of 2009

limitation of liability clause

limitation of risk

limited liability company (LLC)

limited Mexico coverage endorsement

limited severability provision

limit of insurance

limit of liability

“limits reduction” provision

limits under multiple policy (LUMP) years

line of business

liquidated damages

liquidity ratio

liquor law liability (dramshop)

litigation management

little Miller Acts

livestock collision

livestock coverage form

livestock mortality insurance

Lloyd’s broker

Lloyd’s central fund

Lloyd’s managing agent

Lloyd’s members’ agent

Lloyd’s of London

Lloyd’s syndicate

Lloyd’s underwriter

loan participation coverage

locality standard

London form (BFPD)

London Interbank Offered Rate (LIBOR)

Longshore and Harbor Workers’ Compensation Act (LHWCA) of 1927

long tail liability

long-term disability (LTD) income insurance

long-term insurance

loss adjustment expense (LAE)

loss assessment

loss carryforward

loss conditions

loss control report

loss conversion factor (LCF)

loss damage waiver (LDW)

loss development

loss development factor (LDF)

losses incurred

losses in excess of policy limits

loss forecasting

loss limitation

loss loading (multiplier)

loss mitigation underwriting (LMU)

loss of consortium suits

loss of income coverage

loss payable clause

loss payout curve

loss portfolio agreements

loss portfolio transfer (LPT)

loss prevention

loss ratio coverage

loss reserve stability

loss sensitive plans

lost policy release

lowest achievable emission rate

low speed vehicle (LSV)

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

M

maintenance, cure, and wages

maintenance wrap-up

major life activity

major medical insurance

major shareholder exclusion

malicious prosecution

malpractice insurance

managed care coverage endorsement

managed care liability insurance

managed care organization (MCO)

management advisory services

management liability insurance

Management Liability Insurance Specialist (MLIS®)

managing general agent (MGA)

managing general underwriter (MGU)

mandatory arbitration provision

mandatory securities valuation reserve

manifestation theory

manifest system

manufacturers and contractors (M&C) insurance

manufacturers output policy (MOP)

manufacturers penalty insurance

manufacturer’s selling price endorsement

manuscript certificate of insurance

manuscript form or policy

marina operators legal liability coverage

marine insurance

market conduct exam

market service agreement (MSA)

market value clause

masonry noncombustible construction

matching deductible

material safety data sheet (MSDS)

mature claims-made

maximum foreseeable loss (MFL)

maximum medical improvement (MMI)

maximum possible loss (MPL)

maximum premium

McCarran-Ferguson Act (Public Law 15) of 1945

MCS-90 endorsement

means and methods of construction

mean/variance/covariance (MVC) risk modeling method

media liability coverage

mediation incentive deductible

medical fee schedule

Medical Injury Compensation Reform Act (MICRA) of 1975

medical malpractice “caps”

medical malpractice insurance

medical payments, auto

medical payments, general liability

medical payments, homeowners

Medicare fraud and abuse insurance

Medicare, Medicaid, and SCHIP Extension Act (MMSEA) of 2007

Medicare set-aside

membership accounting

members of Lloyd’s of London

mental impairment

mental-mental injuries

menu-driven policy

mercantile open stock

mercantile robbery

mercantile safe burglary

Meredith Principles

Mexico coverage

Migrant and Seasonal Agricultural Worker Protection Act (MSAWPA) of 1983

mill construction

Miller Act of 1935

Million Dollar Round Table (MDRT)

mine subsidence coverage

minimum and deposit (M&D)

minimum deposit policy

minimum premium

ministerial exception

minor’s compromise

miscellaneous liability coverage

misrepresentation

misstatement of age provision

mixed-motive evidentiary standard (in employment discrimination cases)

mix of services

mobile equipment

mobile home policy

modification factor (the “mod”)

modified fire-resistive construction

modified premium

monetary threshold

money and securities broad form policy

money orders and counterfeit paper currency insurance

monopolistic state funds

Monte Carlo simulation (MCS)

Montrose doctrine

Montrose provision

moonlighting coverage

mortality table

mortgage-backed security

mortgage errors and omissions insurance

mortgageholders

mortgage impairment insurance

mortgage insurance

mortgage (mortgagee) clause

most favored venue wording

motion in limine

motion practice

motion to dismiss

Motor Carrier Act (MCA) of 1980

Motor Carrier Act Endorsement

motor carrier policy

motorcycle insurance

motor home policy

motor truck cargo

motor vehicle insurance law

motor vehicle record (MVR)

motor vehicle registration law

multiemployer pension and benefit plans

multi-peril crop insurance (MPCI)

multi-period excess earnings (MPEE) method

multiple coordinated policies

multiple indemnity

multiple parent captive

multiple protection insurance

multiple trigger insurance contracts

multiplied damages

multiyear single limit (MYSL)

mutual additional insured status

mutual benefit association

mutual law enforcement agreements

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

N

named nonowner policy or endorsement

named perils coverage

National Association of Insurance Commissioners (NAIC)

National Association of Registered Agents and Brokers (NARAB)

National Council on Compensation Insurance (NCCI)

National Flood Insurance Program (NFIP)

National Highway Traffic Safety Administration (NHTSA)

National Independent Statistical Service (NISS)

nationalization

National Practitioner Data Bank (NPDB)

National Priorities List (NPL)

National Response Center

National Response Team (NRT)

National Safety Council

Nationwide Marine Definition

naturally occurring asbestos (NOA)

naturally occurring substances

negligence per se

negligent entrustment

negligent evaluation

negligent provider selection

negligent referral

negligent retention

net interest earned

net level premium

net loss reserves

net present value

net retained liability

net risk (risk limitation)

net written premium

newly acquired entities

newsgathering torts

New Source Performance Standards (NSPS)

NFC mortality rate

no further remedial action planned

nonadmitted asset

nonadmitted balance

nonadmitted insurance

nonadmitted insurance (international insurance)

nonadmitted insurer

nonadmitted reinsurance

Nonappropriated Fund Instrumentalities Act of 1952

noncertified act of terrorism

noncombustible construction

nonconcurrency of coverage triggers

noncontributing, noncontributory

noncontributory insurance

noncontrolled foreign corporation (NCFC)

noncorrelated risks

noncumulation of limits provisions

nonderivative suits

nonduplication of benefits

noneconomic damages

nonengagement letter

nonfiled line of coverage

nonforfeiture values

nonimputation provision

noninsurable risk

noninsurance risk transfer

nonledger assets

nonoperating working interest

nonowned automobile

nonparticipating (non-par)

nonparticipation settlement clause

nonpecuniary relief

nonpracticing extension

nonprofit directors and officers liability insurance

nonprofit insurers

nonproportional reinsurance

nonqualified plans

nonratable elements

nonrescission provision

nonresident agent

nonstandard auto insurance

nonsubject premium

nonsubscription

nontransferability provisions

no-pay, no-play laws

North American Industry Classification System (NAICS)

notary claim exclusion

notice of cancellation endorsement

notice of cancellation/nonrenewal clauses

notice of circumstances during extended reporting period provision

notice of claim provision

notice of occurrence

notice of potential claim provision

notice to the company

nuclear, biological, chemical (NBC) weapons

nuclear, biological, chemical, radiological attack/weapon

nuclear exclusion

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

O

objective findings

obligatory treaty

occupational accident insurance

occupational classification

occupational disease

occupational injury

occupational manual

occurrence policy

occurrence year

ocean marine coverage

off-balance-sheet risk

off-duty coverage

offer of judgment

office burglary and robbery

Office of Motor Carrier Standards (OMCS)

off-premises power coverage

offshore captive

on-demand bonds, bank guarantees

ongoing operations

Online Privacy Protection Act of 2003 (AB68)

onshore captive

open stock burglary policy

operating cash flow

operating earnings

operational capital

operational risk

operational risk financing securities (ORFS)

operational risk management (ORM)

operators extra expense (OEE)

optimum level of risk retention

optionally renewable

option backdating

option instruments

option spring-loading

opt-out lawsuits

ordinance or law coverage

ordinary construction

ordinary payroll limitation or exclusion endorsement

organizational documents

organizational risk

original gross premium (OGP)

original insurer

ostensible agency liability

other insurance clause

other states coverage

other structures: homeowners policy

other-than-collision coverage

other underwriting income

outcomes measurement

outer continental shelf

Outer Continental Shelf Lands Act (OCSLA) of 1953

out of employment

outplacement services

outside directors

outside directorship liability coverage

outstanding losses

outstanding loss reserves (OSLR)

outstanding premiums

overall operating ratio

overlapping insurance

overriding commission

overtime surcharge

owner controlled insurance program (OCIP)

owners and contractors protective (OCP) liability coverage

ownership clause

owners, landlords, and tenants (OL&T) liability policy

owners protective errors and omissions insurance coverage

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

P

paid-in capital

paid loss retrospective rating plan

paid-up additions

pain and suffering

pair or set clause

parallel proceedings

parcel post coverage

pari passu rule

Part A permit, Part B permit

partial disability

partial retention

participating (par)

participating policy

participating reinsurance

particular average

partner controlled insurance program (PCIP)

party-in-interest transactions

passive foreign investment company (PFIC)

passive retention

pass-through entity

patent infringement

patient compensation funds

patient dumping

Patient Protection and Affordable Care Act (PPACA)

Patient’s Bill of Rights legislation

Paul v. Virginia

payment account

pay practices claims

payroll deduction

payroll limitation

payroll limitation or exclusion endorsement

Pension Benefit Guaranty Corporation (PBGC)

Pension Protection Act of 2006

percentage participation

per diem business interruption coverage

performance bond

performance ratio

peril of the sea

per-loss deductible

permanent and stationary

permanent life insurance

permanent partial disability

permanent total disability

per occurrence limit

per occurrence limitation of liability provision

per person limit

per risk excess reinsurance

personal and advertising injury

personal articles floater

personal auto policy (PAP)

personal effects floater

Personal Information Protection and Electronic Documents Act (PIPEDA) of 2000

personal injury (PI)

personal injury protection (PIP)/no-fault

personal liability coverage

personally identifiable information (PII)

personal profit exclusion

personal property

personal risk management (PRM)

personal umbrella policy

physical hazard

physical impairment

physical-mental injuries

physical rehabilitation

pilot warranty, aircraft

placement service agreement (PSA)

placement slips

plain language laws

planned retention

plate glass insurance

point-of-entry treatment device

point-of-use treatment device

police professional liability insurance

policy anniversary

policy conditions

policy definitions

policy dividend

policy expense allowance

policyholder dividends

policyholder surplus

policy registers

policy territory

policy writing agent

policy year experience

political risk insurance

pollutant standard index (PSI)

pollution exclusion

portfolio reinsurance

portfolio return

portfolio runoff

portfolio transfer

post-emergency recovery

postmortem dividend

potentially responsible party (PRP)

power of attorney

practice insurance policy

practice policy

preauthorized check plan

pre-claim advice credit

predecessor firm coverage

predictive analytics (PA) or modeling

predominant cause

preexisting condition

preferred provider organization (PPO)

Pregnancy Discrimination Act (PDA) of 1978

prejudgment interest

premises burglary coverage

premises-operations

premises theft and outside robbery coverage form H

premium, advance

premium capacity

premium deposit

premium discount

premium payment plan

premium prepayment

premium reserve

premiums earned

prepaid legal plans

preponderance of evidence

preservation of property

pre-set allocation provision

presumptive indemnification provision

primary and noncontributory

primary beneficiary

primary insurer

primary liability

principle of indemnification

prior acts coverage

prior and pending litigation exclusion

priority of payments provision

prior work exclusion

private carrier

private company directors and officers liability insurance

private crop-hail insurance

private equity firm

Private Letter Ruling

privately held corporation

private placement

Private Securities Litigation Reform Act of 1995

privileged communication

privity of contract

probability analysis

probability of ruin

probable maximum loss (PML)

probationary period

process wastewater

procuring cause

producer-owned reinsurance company (PORC)

product disparagement

production contracts

production of documents

product liability

product liability exclusion

product liability insurance

products-completed operations

products guarantee legal liability

products tampering insurance

professional employer organization (PEO)

professional liability

professional reinsurer

professional services exclusion

profit center captives

profit commission

profit sharing plan

pro forma (projected) financial statements

program business

progressive injury or damage

prohibited risk

prohibited transaction exemption (PTE)

prohibited transactions

prohibition of voluntary payments provision

project liability insurance

project management protective liability (PMPL) insurance

promissory estoppel

promissory note

Property Claim Law Associate (PCLA)

Property Claim Law Specialist (PCLS)

property damage (PD)

property insurance

property transfer liability insurance

proportional liability

proportional/pro rata reinsurance

pro rata cancellation

pro rata distribution clause

pro rata reinsurance

prospective aggregates

prospective loss costs

prospective rating

protected cell captive (PCC)

protection and indemnity (P&I) insurance

protection classes

protective liability insurance

protective order

protective professional indemnity insurance

protective safeguards endorsement

provisional notice of cancellation (PNOC)

provisional premium

proximate cause

psychological rehabilitation

public adjuster

Public Company Accounting Oversight Board (PCAOB)

public easement

public employee dishonesty coverage

Public Law 15 (McCarran Act)

public liability insurance

publicly held corporation

public officials bond

public officials liability

public officials liability insurance

public or livery conveyance use

public policy exception

public private partnership

Public Risk Management Association (PRIMA)

publishers liability

punitive damages

purchasing group

pure claims-made policy

purpose not designated exclusion, aircraft

putting in expenses

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Q

qualified person with a disability

qualified self-insurer

qualitative claim auditing

Quality Indicator Profile (QIP)

quantitative claim auditing

quantity discount

quid pro quo sexual harassment

quota share reinsurance

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

R

Racketeer Influenced and Corrupt Organizations (RICO) Act of 1970

radiological weapon

radius of operations

railroad protective liability

railroad sidetrack agreement

rate discrimination

rate of natural change

rate on line (ROL)

rating experience

rating methodology

rating organization

readjustment income

real estate brokers errors and omissions

reasonable accommodation

reasonable expectations doctrine

reasonable repairs

reasonably available control technology (RACT)

reciprocal insurance

rectification coverage

recurrent disability

recurring clause

reduced paid-up insurance

reformation (of an insurance policy)

registered agent

registered mail coverage

Registered Professional Liability Underwriter (RPLU)

regression analysis

regulated asbestos-containing material (RACM)

regulated medical waste

Regulation 114 Trust

regulatory agency exclusion

regulatory estoppel

regulatory risk

rehabilitation management

reimbursement policies

reinstatement premium

reinsurance agreement

reinsurance assumed

reinsurance captive

reinsurance ceded

reinsurance commission

reinsurance confirmation

reinsurance credit

reinsurance facility

reinsurance/hedging strategy optimization

reinsurance intermediaries

reinsurance pool

reinsurance premium

reinsurance recoverable

reinsurance sidecar

reinsurance treaty

reinsurance wheel

reinsurer’s margin

related claims provisions

related party insurance income (RPII)

related product liability exclusion

relief well coverage

remedial action (RA)

remedial design

remedial investigation

remedial project manager (RPM)

remedial response

remediation cost cap policy

renewal certificate

rental cost reimbursement (cost of hire) endorsement

rental reimbursement coverage endorsement

rents or rental value insurance

repatriation of dividends insurance

replacement cost coverage

reportable quantity (RQ)

reported losses

reporting form coverage

repossessed autos endorsement

representations and warranties insurance

reproduction cost

reputational risk

request for proposal (RFP)

Research and Special Programs Administration (RSPA)

reservation of rights

reserved but not enough (RBNE)

residence employee: homeowners policy

residential wrap-up

residual market

residual market load (RML)

residual market loading

residual value insurance

res ipsa loquitur

Resource Conservation and Recovery Act (RCRA) of 1976

respondeat superior

response action

Responsible Reporting Entity (RRE)

restitution of fees

restoration of limits provision

results standards

resumption plan

retaliation claims

retaliatory law

retaliatory suits

retention ability

retired directors liability policies

retirement annuity

retirement income policy

retraction provisions

retroactive conversion

retroactive date

retroactive insurance

retrocessionaire

retrocessional pools

retrospective rating

return of premium (or cash value)

return of professional fees exclusion

return of remuneration exclusion

return on equity (ROE)

return on risk-adjusted capital (RORAC)

return-to-work program

reverse flow business

reverse takeover

riggers liability insurance

right of offset

right of recourse provision

right to repair law

rip and tear coverage

risk-adjusted return on capital (RAROC)

risk-adjusted return on risk-adjusted capital (RARORAC)

risk-adjustment investment (capital)

Risk and Insurance Management Society, Inc. (RIMS)

risk assumption

risk-based capital (RBC) requirements

risk concentration

risk distribution

risk identification

risk management

risk management information system (RMIS)

risk management process

risk management techniques

risk map/mapping

risk prioritization

risk purchasing group (RPG)

risk quantification

Risk Retention Act (RRA) of 1986

risk retention group (RRG)

risk securitization

risk volatility

robbery and safe burglary coverage, money and securities form Q

robbery and safe burglary coverage, other than money and securities form D

rolling policy limits

rolling wrap-up

Rule 11 sanctions

running down clause

runoff provision

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

S

safe burglary insurance

safe deposit box coverage

safe depository coverage

Saffir-Simpson scale

salesmen’s samples coverage

saline substances contamination endorsement

Sarbanes-Oxley Act (SARBOX, SOX, SOx) of 2002

“say-on-pay” provision

scheduled limits

“Schedule P” reserve

schedule rating

school board legal liability insurance

school board liability coverage

screening clients/cases

Sears v. Commissioner

secondary beneficiary

secondary classification—special industry class

secondary dependent properties

secondary payer

second surplus reinsurance

Section 501(c) of the U.S. Internal Revenue Code

Securities Act of 1933

securities class action claims

securities deposited with others coverage form J

Securities Exchange Act of 1934

securities insuring agreement

securities valuation reserve

securitization of risk

security holder exclusion

security requirements

seedsmen’s errors and omissions liability insurance

segregated cell captive (SCC)

selected tender

self-contained policy

self-insurance pool

self-insured retention (SIR)

self-insurer’s bond

self-procurement taxes

selling price clause or endorsement

Senior Claim Law Associate (SCLA)

separate account

service fulfillment insurance

servicing carrier

servicing contractors rider

settlement options

settlement programs

severability of exclusions

severability of interests clause

severability provision in directors and officers applications

several liability

severance pay exception wording

sexual abuse exclusion

sexual harassment

share reinsurance

share repurchases

short-rate cancellation

shrinking limits defense provision

shrink-wrap agreement

Side A coverage

Side A-only coverage

Side B coverage

sidecar reinsurance

Side C coverage

sidetrack agreement

signaling capital

significant deviation

simulation risk modeling method (often called Monte Carlo method)

single entity coverage

single-entry multiple company interface (SEMCI)

single interest insurance

single-owner captive

single-parent captive

single premium insurance

single state registration system (SSRS)

sinkhole collapse

sistership liability exclusion

sleep insurance

sliding scale commission

sliding scale dividend

small quantity generator

smooth limits, aircraft

soft costs coverage

solvency margin

sophisticated insured

source revelation provisions

Spearin Doctrine

special acceptance

special causes of loss form (ISO)

special crime insurance

special damages

special employer

special flood hazard area (SFHA)

special investigative unit (SIU)

special litigation committee (SLC)

special mobile equipment

special or specialty risks

special personal auto policy (SPAP)

special purpose vehicle (SPV)

specialty risks

specific excess insurance

specific limits

specific loss limit

specific rating

specified causes of loss coverage

specified perils coverage

speculative risk

speed to market

split dollar plans

sponsored captive

spousal coverage

spousal coverage extension

spread loss reinsurance

sprinkler leakage coverage

stabilization reserve

staff model health maintenance organization

stand-alone excess policy

stand-alone terrorism coverage

standard deviation

standard exceptions

standard fire policy (SFP) jurisdictions

standard form or standard policy

Standard Industrial Classification (SIC)

standard premium

standard property policy (ISO)

State Emergency Response Commission (SERC)

State Implementation Plans (SIP)

statement blank

static risk modeling

statistical codes

statistical method

statute of frauds

statute of limitations

statute of repose

statutory accounting principles (SAP)

statutory capital

statutory coverages

statutory inspections

statutory insurance

stay of proceedings

stevedores legal liability coverage

stochastic dominance

stock option claims

stop gap endorsement

stop-loss reinsurance (SLR)

storekeepers broad form

storekeepers burglary and robbery policy

Stowers Doctrine

straight life policy

strategic risk management

strict liability

strike coverage

strikes, riots, and civil commotions (SR&CC) warranty

strike-through clause

structural risk modeling methods

structured finance

structured settlement

subcontractor default insurance

subcontractor exception

subguard insurance

subject business

subjective symptoms

subject of insurance

subject policies

subject premium

Subpart F income

subpoena duces tecum

subrogation provision

subrogation waiver

substitute physician coverage endorsement

“sudden and accidental”

sue and labor clause

summary judgment

superintendent of insurance

superseded surety rider

supervision coverage

supplemental extended reporting period (SERP)

supplementary employee retirement plan (SERP)

supplementary payments

surplus lines broker

surplus lines insurance

surplus reinsurance

survival action

suspension of coverage endorsement

system safety approach

systems performance insurance

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

T

tail value at risk (Tail VaR) or tail conditional expectation (TCE)

targeted enterprise risk insurance (TERI)

targeted tender

tax acceleration

tax harmonization

tax interruption coverage

tax opinion insurance

Tax Reform Act (TRA) of 1984

Technical and Miscellaneous Revenue Act (TAMRA) of 1988

technique of operations review (TOR) system

technology errors and omissions insurance (tech E&O)

Telephone Consumer Protection Act (TCPA) of 1991

temporary partial disability

temporary total disability

tender of defense

tender offer defense expense

terminal coverage

terminal operator

term life insurance

terrorism endorsement

terrorism insurance

Terrorism Risk Insurance Act (TRIA) of 2002

Terrorism Risk Insurance Extension Act (TRIEA) of 2005

Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) of 2007

tertiary beneficiary

testing coverage

that particular part

theft, disappearance, and destruction of money and securities coverage form
C

thermal pollution

third-party administrator (TPA)

third-party beneficiary principle

third-party claims

third-party liability coverage

third-party lien

third-party-over action

third-party risk

threshold level

threshold limit value (TLV)

tie-in endorsements

time element insurance

time element loss

time series analysis

time value of money

Title VII of the Civil Rights Act of 1964

tolling a statute of limitations

tool and die floater

total disability

total insurable value (TIV)

total insured value provision

total pollution exclusion

Toxic Substances Control Act (TSCA) of 1976

trade disruption insurance

trading loss coverage

trailer interchange insurance

transfer of risk

transfer pricing

transit coverage

transitional duties

transportation expenses

travel agents errors and omissions insurance

travel insurance

treaty reinsurance

triple excess coverage

triple trigger theory

trip transit insurance

truckers downtime insurance

truckers policy

trust agreement

trust department errors and omissions coverage

T3 Lloyd’s form

turnkey operation

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

U

uberrimae fidae

ultimate net loss

ultra vires acts

umbrella liability policy

unaffiliated business

unallocated benefit

unallocated loss adjustment expense (ULAE)

unauthorized insurer

unconditional settlement clause

unconscious bias

underground property damage

underinsured motorists (UIM) coverage

underlying coverage

underlying interest

underlying premium

underwriting agency

underwriting capacity

underwriting cash flow

underwriting class

underwriting cycle

underwriting expense

underwriting guidelines

underwriting manager

underwriting member

underwriting period

underwriting profit

underwriting risk

underwriting year experience

unearned premium (UEP)

unearned premium reserve

unearned reinsurance premium

unfunded retention

unfunded self-insurance

Unified Carrier Registration Agreement (UCRA)

Uniformed Services Employment and Reemployment Rights Act (USERRA) of 1994

uniform resource locator (URL)

Uniform Task Based Management System (UTBMS)

unilateral contract

unilateral extended reporting period provision

unimpaired surplus

uninsured motorists (UM) coverage

unit statistical card

universal life insurance

unnamed pilot exclusion

unplanned retention

unrelated business

unrelated business income tax (UBIT)

unreported claims

unseaworthiness

unusual expenses

use and occupancy insurance

U.S. Longshore and Harbor Workers’ Compensation Act

utility service interruption coverage

utilization review

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

V

vacancy permit endorsement

vacancy provision

valuable papers and records coverage

value-added services

value-at-risk (VAR)

valued business interruption coverage

valued coverage

value of risk (VOR)

value reporting form

vanishing premium

variable annuity

variable interest entity (VIE)

variable life insurance

vendors coverage

vendors dual interest coverage

vendors endorsement

vendors single interest coverage

venturi scrubbers

verbal threshold

vertical exhaustion rule

vessel in navigation

vexatious litigant

viatical settlement

vicarious liability

Video Privacy Protection Act (VPPA) of 1988

vocational rehabilitation

voluntary compensation endorsement

voluntary compensation maritime coverage endorsement

Voluntary Employees’ Beneficiary Association (VEBA)

voluntary market

Voluntary Protection Program (VPP)

voluntary reserve

Volunteer Protection Act of 1997

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

W

wage and hour claims

wage and hour insurance coverage endorsement

wages, maintenance, and cure

waiting period deductible

waiver of inventory

waiver of premium

waiver of recourse endorsement

waiver of subrogation

warehouse operators legal liability insurance

warehouse to warehouse clause

WARN Act exclusion

war risk clause

war risk insurance

Warsaw Convention

waste load allocation

waterborne equipment exclusion

water quality-based limitations

water quality-based permit

water quality standards

weapon of mass destruction (WMD)

wedding insurance

weighted average cost of capital (WACC)

weighted average loss forecasting

welfare and pension plan bond coverage

well control insurance

wellness program

wharfinger legal liability coverage

whistleblower claim

whistleblower provision

whistleblower statutes

whole life insurance

wholesale agent

wholesale broker

wholesale health insurance

wholesale insurance

wind or hail deductible

with average (WA)

with average 3 percent (WA 3%)

without prejudice

workers compensation

workers compensation and employers liability policy

workers compensation catastrophe cover

Workers’ Compensation Claim Law Associate (WCLA)

Workers’ Compensation Claim Law Specialist (WCLS)

workmanship exclusion

work performed exclusion

workplace violence insurance

worldwide insurance program

wrap-around policy

wrap-around risk financing program

wrap-up exclusion endorsement

Write-Your-Own (WYO) Program

written premium

wrongful death claim

wrongful termination

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

X

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Y

year 2000 (Y2K) exclusion

York Antwerp Rules

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Z

zero-beta asset

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright � International Risk Management Institute, Inc. (IRMI)
www.IRMI.com/Online/Insurance-Glossary/