Authorized Reinsurance reinsurance placed with a reinsurer who is licensed or otherwise allowed to conduct reinsurance within a state. What is Authorized Rein...
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...
Ambulatory Services health services provided to members who are not confined to a health care institution. Ambulatory services are often referred to as "outpati...
Auto Liability coverage that protects against financial loss because of legal liability for motor vehicle related injuries (bodily injury and medical payments)...
Accumulation Period period of time insured must incur eligible medical expenses at least equal to the deductible amount in order to establish a benefit period u...
ALAE an estimate of the claims settlement associated with a particular claim or claims. What is ALAE , What does mean ALAE , Insurance Guide, Insurance Glossa...
Assisted Living Care a policy or rider that provides coverage only while a policyholder is confined to an assisted living facility and meets the policy requirem...
Accident Insurance insurance for unforeseen bodily injury. What is Accident Insurance , What does mean Accident Insurance , Insurance Guide, Insurance Glossar...
Affiliate a person or entity that directly, or indirectly, through one or more other persons or entities, controls, is controlled by or is under common control...
Arbitration a binding dispute resolution tactic whereby a conciliator with no interest in the outcome intercedes. What is Arbitration , What does mean Arbitra...
Admitted Assets insurer assets which can be valued and included on the balance sheet to determine financial viability of the company. What is Admitted Assets...
Annual Statement an annual report required to be filed with each state in which an insurer does business. This report provides a snapshot of the financial condi...
Auto Physical Damage motor vehicle insurance coverage (including collision, vandalism, fire and theft) that insures against material damage to the insured's veh...
Actual Cash Value repayment value for indemnification due to loss or damage of property; in most cases it is replacement cost minus depreciation What is Actua...
Alien Company an insurance company formed according to the laws of a foreign country. The company must conform to state regulatory standards to legally sell ins...
Assumed Reinsurance the assumption of risk from another insurance entity within a reinsurance agreement or treaty. What is Assumed Reinsurance , What does mea...
Accident Only an insurance contract that provides coverage, singly or in combination, for death, dismemberment, disability, or hospital and medical care caused...
Agent an individual who sells, services, or negotiates insurance policies either on behalf of a company or independently. What is Agent , What does mean Agent...
Assessed Value estimated value for real or personal property established by a taxing entity What is Assessed Value , What does mean Assessed Value , Insurance...
Admitted Company an insurance company licensed to do business in a state(s), domiciled in an alternative state or country. What is Admitted Company , What doe...
Annuitant the beneficiary of an annuity payment, or person during whose life and annuity is payable. What is Annuitant , What does mean Annuitant , Insurance...
Automobile Liability Insurance coverage for bodily injury and property damage incurred through ownership or operation of a vehicle. What is Automobile Liabili...
Actuarial Report (PC Insurance)a document or other presentation, prepared as a formal means of conveying to the state regulatory authority and the Board of Dire...
Allied Lines coverages which are generally written with property insurance, e.g., glass, tornado, windstorm and hail; sprinkler and water damage; explosion, rio...
Authorized Company an insurer licensed or admitted to do business in a particular state. What is Authorized Company , What does mean Authorized Company , Insu...
Aggregate the maximum dollar amount or total amount of coverage payable for a single loss, or multiple losses, during a policy period, or on a single project....
Asset probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events. An asset has three essential c...
Advance Premiums occur when a policy has been processed, and the premium has been paid prior to the effective date. These are a liability to the company and not...
Annuities - Immediate Non-variable An annuity contract that provides for the fixed payment of the annuity at the end of the first interval of payment after purc...
Balance Sheet accounting statement showing the financial condition of a company at a particular date. What is Balance Sheet , What does mean Balance Sheet , I...
Actuary business professional who analyzes probabilities of risk and risk management including calculation of premiums, dividends and other applicable insurance...
All-Risk Also known as open peril, this type of policy covers a broad range of losses. The policy covers risks not explicitly excluded in the policy contract....
Authorized Control Level Risk Based Capital theoretical amount of capital plus surplus an insurance company should maintain. What is Authorized Control Level...
