Combined Ratio an indication of the profitability of an insurance company, calculated by adding the loss and expense ratios. What is Combined Ratio , What doe...
Business Auto coverage for motor vehicles, other than those in the garage business, engaged in commerce. Business auto filings include singularly or in any comb...
Collar an agreement to receive payments as the buyer of an Option, Cap or Floor and to make payments as the seller of a different Option, Cap or Floor. What i...
Bonds a form of debt security whereby the debt holder has a creditor stake in the company. Obligations issued by business units, governmental units and certain...
Capital Gains (Loss) excess (deficiency) of the sales price of an asset over its book value. Calculated on the basis of original cost adjusted, as appropriate,...
Claim a request made by the insured for insurer remittance of payment due to loss incurred and covered under the policy agreement. What is Claim , What does m...
Ceding Company an insurance company that transfers risk by purchasing reinsurance. What is Ceding Company , What does mean Ceding Company , Insurance Guide, I...
Commencement Date date when the organization first became obligated for any insurance risk via the issuance of policies and/or entering into a reinsurance agree...
Business Interruption loss of income as a result of property damage to a business facility. What is Business Interruption , What does mean Business Interrupti...
Cash Equivalent short term, highly liquid investments that are both (a) readily convertible to known amounts of cash, and (b) so near their maturity that they p...
Collateral Loans unconditional obligations for the payment of money secured by the pledge of an investment. What is Collateral Loans , What does mean Collater...
Book Value original cost, including capitalized acquisition costs and accumulated depreciation, unamortized premium and discount, deferred origination and commi...
Capitation Arrangement a compensation plan used in connection with some managed care contracts where a physician or other medical provider is paid a flat amount...
Claims Adjustment Expenses costs expected to be incurred in connection with the adjustment and recording of accident and health, auto medical and workers' compe...
Commercial Mortgage Backed Securities a type of mortgage backed security that is secured by the loan on a commercial property. What is Commercial Mortgage, Wh...
Blanket coverage coverage for property and liability that extends to more than one location, class of property or employee. What is Blanket coverage , What do...
Commercial Auto coverage for motor vehicles owned by a business engaged in commerce that protects the insured against financial loss because of legal liability...
Business owners Policy business insurance typically for property, liability and business interruption coverage. What is Business owners Policy , What does mea...
Casualty Insurance a form of liability insurance providing coverage for negligent acts and omissions such as workers compensation, errors and omissions, fidelit...
Collateralized Bond Obligations (CBOs) an investment grade bond backed by a pool of low grade debt securities, such as junk bonds, separated into tranches based...
Broker an individual who receives commissions from the sale and service of insurance policies. These individuals work on behalf of the customer and are not rest...
Captive Agent an individual who sells or services insurance contracts for a specific insurer or fleet of insurers. What is Captive Agent , What does mean Capt...
Claims made Form A type of liability insurance form that only pays if the both event that causes (triggers)the claim and the actual claim are submitted to the i...
Commercial Multiple Peril policy that packages two or more insurance coverages protecting an enterprise from various property and liability risk exposures. Freq...
Boatowners/Personal Watercraft covers damage to pleasure boats, motors, trailers, boating equipment and personal watercraft as well as bodily injury and propert...
Calendar Year Deductible in health insurance, the amount that must be paid by the insured during a calendar year before the insurer becomes responsible for furt...
Change in Valuation Basis a change in the interest rate, mortality assumption or reserving method or other factors affecting the reserve computation of policies...
Commercial Earthquake earthquake property coverage for commercial ventures. What is Commercial Earthquake , What does mean Commercial Earthquake , Insurance G...
Catastrophe Bonds Bonds issued by an insurance company with funding tied to the company's losses from disasters, or acts of God. A loss exceeding a certain size...
Collateralized Mortgage Obligations (CMOs) a type of mortgage backed security (MBS) with separate pools of pass through security mortgages that contain varying...
Builders' Risk Policies typically written on a reporting or completed value form, this coverage insures against loss to buildings in the course of construction....
Captive Insurer an insurance company established by a parent firm for the purpose of insuring the parent's exposures. What is Captive Insurer , What does mean...
Class Rating a method of determining rates for all applicants within a given set of characteristics such as personal demographic and geographic location. What...
Bodily Injury physical injury including sickness or disease to a person. What is Bodily Injury , What does mean Bodily Injury , Insurance Guide, Insurance Glo...
Capital and Surplus a company's assets minus its liabilities. What is Capital and Surplus , What does mean Capital and Surplus , Insurance Guide, Insurance Gl...
Chartered Life Underwriter (CLU) a professional designation awarded by the American College to persons in the life insurance field who pass a series of exams in...
Commercial Farm and Ranch a commercial package policy for farming and ranching risks that includes both property and liability coverage. Coverage includes barns...
Catastrophe Loss a large magnitude loss with little ability to forecast. What is Catastrophe Loss , What does mean Catastrophe Loss , Insurance Guide, Insuran...
Combinations a special form of package policy composed of personal automobile and homeowners insurance. What is Combinations , What does mean Combinations , I...
Burglary and Theft coverage for property taken or destroyed by breaking and entering the insured's premises, burglary or theft, forgery or counterfeiting, fraud...
Aircraft coverage for aircraft (hull) and their contents; aircraft owners' and aircraft manufacturers liability to passengers, airports and other third parties....
Assigned Risk A governmental pool established to write business declined by carriers in the standard insurance market. What is Assigned Risk , What does mean...
Accident an unexpected event or circumstance without deliberate intent. What is Accident , What does mean Accident , Insurance Guide, Insurance Glossary
Advisory Organization a group supported by member companies whose function is to gather loss statistics and publish trended loss costs. What is Advisory Organ...
Beneficiary an individual who may become eligible to receive payment due to will, life insurance policy, retirement plan, annuity, trust, or other contract. W...
