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Massachusetts Insurance Glossary

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

A201 Construction Contract

abandonment

abatement

absolute pollution exclusion

absorbed dose

accept

accident

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

accreditation

Accredited Adviser in Insurance (AAI)

accumulation

accumulation period

ACM

acquisition costs

action levels

action versus the insurer provision

active retention

activity standards

act of God

actual cash value (ACV)

actuarial report

actuary

acute exposure

acute toxicity

ACV

ADA

AD&D

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

adhesive contract

adjustable feature

adjusted earnings

adjusted net worth

adjuster

administrative law

administrative order

administrative order on consent

administrative services only (ASO)

administrator

admiralty law

admitted assets

admitted/authorized reinsurance

admitted company

admitted insurer

admitted reinsurer

ADR

advanced wastewater treatment

advance loss of profit (ALOP) insurance

advancement of defense costs provision

adverse selection

advertisement

advertising injury

advisory endorsement

A&E

aerobic treatment

affiliated companies

affiliated risk

affinity sales

affirmative defense

afterburner

aftermarket parts

AGC

Age Discrimination in Employment Act (ADEA) of 1967

agency

agency agreement

agency captive

agency construction management

agency plant

agency system

agent

agent of record

agent’s errors and omissions

agent’s license

aggravation

aggregate

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

AIA

airborne particulates

air quality control region

air quality standards

air stripping

air toxins

ALAE

ALE

aleatory contract

alienated premises

alien insurer

allegations

allied healthcare professional liability insurance

allocated expenses

allocated loss adjustment expenses (ALAE)

allocated loss expense

allocation

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 minimum tax (AMT)

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, Inc. (AICPCU)

American Institute of Architects (AIA)

American Institute of Certified Public Accountants (AICPA)

Americans With Disabilities Act (ADA)

amount at risk

amount subject

analytic risk modeling method

animal mortality insurance

anniversary date

anniversary rating date

annual aggregate deductible

annual statement

annuitant

annuity

annuity certain

annuity due

answer

anti-concurrent cause (ACC) provision

anti-indemnity statute

anti-stacking provisions

anti-theft device

antitrust liability

apparent agency

appeal

application

application of retention

apportionment

appraisal clause

appraisers errors and omissions

approval

“A” rates

arbitration

arbitration clause

architects and engineers (A&E) liability coverage

ARM

asbestos

asbestos abatement

asbestos containing material (ACM)

asbestos program manager

ASO

assessment company (society or insurer)

asset allocation

asset class

asset risk

asset share value

assigned risk plan

assignee

assignment

associate

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)

association captive

association group

Association of Trial Lawyers of America (ATLA)

association professional liability insurance

assume

assumed liability

assumed premiums

assumed reinsurance

assumption

assumption endorsement

assumption of liability agreement

assumption of liability endorsement (ALE)

assumption of risk

assumption of risk doctrine

assurance

at-risk construction management

attachment basis

attachment point

attained age

attorney/client communication

attorney work product

attractive nuisance doctrine

audit

authorized non-admitted reinsurer

auto

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

automobile liability excess indemnity

automobile liability insurance

automobile physical damage insurance

average basis

average rate

average severity

average weekly wage (AWW)

aviation accident insurance

aviation hazard

avoidance

awareness provisions

AWW

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

back-dated liability insurance

back pay

back-to-back deductible

BACM

bad faith

bailee

bailee coverage

balance

balance billing

bancassurance

bank

bank assurance

bankers professional liability (BPL) insurance

bankruptcy condition

bareboat charter

barratry

Basel Committee on Banking Supervision

base premium

basic causes of loss form (ISO)

basic extended reporting period (BERP)

basic limits

basic premium

basic premium factor

basic rate

basis point(s)

basis risk

basket aggregate

basket deductible

basket retention

batch clause

BDAT

beauty contest

below-target-risk (BTR)

BEN

benchmarking

bench-scale tests

bench trial

beneficiary

benefits

benefits payable exclusion

BERP

best available control measures (BACM)

best demonstrated available technology (BDAT)

Best’s Capital Adequacy Ratio (BCAR)

Best’s Rating

betterment clause

BFPD

bid bond

bid deducts

bifurcation

bilateral extended reporting period provision

bill of lading

binder

bingo card program

bingo stamp

biological magnification

biomechanical analysis

bioremediation

Black Lung Benefits Act

blackmail settlement clause

blackout period

blanket additional insured endorsement

blanket contractual liability insurance

blanket fidelity bond

blanket group boiler and machinery coverage

blanket limit

blanket medical expense

blanket policy

blanket position bond

blended finite risk

blended risk

blowout and cratering

blowout prevention warranty

Blue Book

blue plan

boards and bureaus

boatowners policy

bobtail

bobtail liability

bodily injury

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 insurance

bond

bonding

book value

boom coverage

BOP

bordereau

borderline risk

Bornhuetter-Ferguson technique

borrowed servant rule

boutique law firm

BPL

branch profits tax

brand equity

brand rehabilitation

brands and labels endorsement

breach

breach of contract

breach of warranty clause

break point

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)

broker

brokerage department

brokerage market

brother-sister relationship

Brownfield

Brownian motion

buffer layer

builders risk policy

building and personal property coverage form (ISO)

building codes effectiveness grading schedule (BCEGS)

Building Information Modeling (BIM)

building ordinance coverage

building rate

bulk reserves

bumbershoot

burden of proof

burglary

burning cost

business auto policy

business continuity management (BCM)

business income coverage

business income worksheet

business interruption coverage

business interruption worksheet

business judgment rule

business legal expense insurance

business risk

businessowners policy (BOP)

business use class

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

CAA

Cable Communications Policy Act (CPPA)

calendar year experience

cancelable

cancel and rewrite

cancellation

C and F

candidate analysis

CAN-SPAM Act

cap

capacity

capital

capital adequacy

capital allocation

Capital Asset Pricing Model (CAPM)

capital at risk

capital attribution

capital markets

capital stock

capital stock company

capital structure

capital sum

capitated fee

CAPM

captain of the ship doctrine

captive

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)

carrier

carryover provision

case management

case reserve

case reserves cash flow plans

cash balance pension plans

cash call

cash flow program

cash flow return on investments (CFROI)

cash flow underwriting

cash refund annuity

cash surrender value

casualty insurance

catastrophe

catastrophe bond

catastrophe equity put

catastrophe plan

catastrophe policy

catastrophe reinsurance

catastrophe reserves

catastrophic loss

causes of loss

causes of loss forms (ISO)

CCC

cedant

cede

ceded premiums

ceding commission

ceding company

cell captive

central collection point

central tendency

CERCLA

certificate holder

certificate of compliance

certificate of insurance

certificate of reinsurance

certified act of terrorism

Certified Risk Manager (CRM)

cession

cession number

cession statement

cestui que vie

CFC

CGL

channeling

chaplain or priest malpractice

charter

Chartered Insurance Institute (CII)

Chartered Life Underwriter (CLU)

Chartered Property Casualty Underwriter (CPCU)

charterers legal liability coverage

chemical, biological, radiological, nuclear (CBRN) weapon

Chemnet

chief risk officer (CRO)

Children’s Online Privacy Protection Act (COPPA)

Choice no-fault

chronic toxicity

chronological stabilization plans

CIF

circumstance

Civil Rights Act of 1991

claim

claimant

claim expense

claims adjuster

claims administrator

claims audit

claims-made

claims-made and reported policy

claims-made and reported provision

claims-made multiplier

claims-made reinsurance

claims-paid policy

claims reserve

clash cover

class

class action

Class Action Fairness Act of 2005

class I area

Class 1 insureds

Class 2 insureds

classification

classified insurance

class of business

class rating

clause

Clean Air Act (CAA)

clean closure

cleanup fund

Clean Water Act (CWA)

client company

climate change risk

clinical patterns

closed-loop recycling

CLU

coded excess

codefendant

coding

coemployer

coemployment

COGSA

coinsurance hammer clause

coinsurance provision

coinsurer

collapse additional coverage

collapse: homeowners policy

collar

collateral

collateral agreement

collateral documents

collateral estoppel

collateralization of cash flow programs

collateral source rule

collateral value insurance

collection commission

collection fee

collision damage waiver

collision insurance

combination plan reinsurance

combination policy

combined ratio

comment period

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

commission

commissioner

commissioners standard ordinary 1958 mortality table

commissions of selling agents coverage

Committee on Sponsoring Organizations (COSO)

common accident

common carrier

common disaster

common law

common law defenses

common law liability

common policy conditions

community property

community rating

Community Rating System (CRS)

commutation

commutation agreement

commutation clause

commutation rights

comparative negligence

compensable

Compensated Intercorporate Hauling (CIH)

compensating balance plan

compensatory damages

competitive bidding

competitive state funds

complaint

completed operations

complete retention

composite rating

comprehensive 3-D policy

comprehensive auto coverage

comprehensive auto liability (CAL)

comprehensive boiler and machinery coverage

Comprehensive Environmental Response Compensation and Liability Act (CERCLA)

comprehensive general liability (CGL) policy

compulsory insurance

compulsory insurance requirements (international insurance)

computer crime insurance

computer fraud coverage form

computer software design errors and omissions

concealment

concurrency

concurrent causation

concurrent-cause situation

concurrent insurance

conditional binding receipt

conditionally renewable

conditional payment clause

conditional vesting

conditions

condominium association coverage form (ISO)

confidence intervals (levels)

confiscation, expropriation, nationalization, and deprivation insurance

conflict of laws

ConsensusDOCS

consent judgment

consent to settlement clause

consequential bodily injury suits

consequential loss

conservator

consideration

consolidated insurance program (CIP)

consolidation

constructibility review

construction ban

construction defect

construction management agency

construction management at-risk

construction management (CM)

construction management professional liability insurance

Construction Risk and Insurance Specialist (CRIS)

constructive discharge

constructive total loss

contents rate

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 liability from operation of building codes

continuance

continuation of coverage in bankruptcy provision

continuing undertaking rule

continuous contract

continuous injury trigger

continuous treatment rule

contract

contract attorney

contract bond

contract carrier

Contract Certainty

contract of adhesion

contractor controlled insurance program (CCIP)

contractors all risks insurance (CAR)

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

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

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

control technique guidelines (CTG)

convention blank

convention statement

convergence

convergence (of the capital and insurance markets)

converted losses

convertible

Cooke ratio

cooperation clause

cooperative controlled insurance program (CO-CIP)

cooperative insurance

Coordinated Advertising, Rate and Form Review Authority (CARFRA)

coordination of coverage

COP

COPE

core capital

corporate counsel

corporate governance

corporate override agreement

corporate reimbursement coverage

correlation/uncorrelation

corridor deductible

cost and freight (C and F)

cost, insurance, and freight (CIF)

cost of hire endorsement

cost of risk

cost of suit coverage

cost of well control

cosurety

counseling liability

counsel selection provision

counterparty

countersignature

coupon interest

course of employment

courthouse steps settlement

court reporter

covariance

covenant not to execute

covenant not to sue

covenants, conditions, and restrictions (CC&R)

cover

coverage

coverage form

coverage trigger

cover note

CPCU

cradle-to-grave or manifest system

credentialing liability

credibility

credit carry-forward

credit for reinsurance

credit insurance

credit life insurance

credit risk

credit wrap

crisis

crisis management approach

crisis management coverage

crisis management plan

criteria pollutant

critical recommendation

criticism

crop-hail insurance

cross-complainant

cross-complaint

cross-defendant

cross-liability coverage

cross-liability endorsement

cross purchase

Cumis counsel

cumulative collusive excess cover

cumulative injury

current disbursement

current service benefit

custom bond

customer’s auto

cutoff

cut through endorsement

CWA

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

daily reports

“damage to premises rented to you”

“damages reduction” provision

data processing coverage

data processors errors and omissions coverage

date of issue

deadheading

dealers driveaway collision

death benefit

Death on the High Seas Act (DOHSA)

death rate

debit agent

debit life insurance

debit system

debris removal

decennial liability

declarations

declaratory judgment

declination

deductible

deductible, annual aggregate

deductible plan

deemer period

deemers

defamation

default

default insurance

defeasance

defendant

Defense Base Act

defense costs endorsements

defense clause

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

delay clause

delayed completion coverage

delay in start-up (DSU) insurance

delivery

demand surge

demand trigger coverage

demolition coverage

demurrage

demurrer

demutualization

denial of tenure claims

Department of Labor (DOL)

Department of Transportation (DOT)

dependent properties time element coverage

deposit

deposit accounting

deposition

deposit policy

deposit premium

depreciation

deprivation

derivative

derivative contract

derivative suits

designated contractor

designated employees

designated insured endorsement

designated operations exclusion endorsement

designated pollutant

designated workplaces exclusion endorsement

design-build professional liability insurance

designer bugs

design liability

destroyed medical waste

destruction and removal efficiency (DRE)

development factor

deviation

difference-in-conditions (DIC) insurance

difference-in-limits (DIL) clause

Digital Flood Insurance Rate Map (DFIRM)

diminution in value

direct action

direct damage

direct damage coverage

direct discharger

direct filtration

Directive on Data Protection

direct loss

direct market

directors and officers (D&O) liability insurance

direct premiums

direct selling system (direct marketing)

direct threat

direct writer

direct writing captive

direct writing carrier

direct written premium

dirty bomb

disability

disability benefit

disability income insurance

disappearing deductible

disaster

disaster recovery plan

disciplinary proceeding expense coverage

disclaimer

discount rate

discovery

discovery cover

discovery period

discovery provision

discovery rule

discrimination

disease loading

dismemberment

dismissal

disparate impact discrimination

disparate treatment discrimination

dispersion

distributions

distribution system

diversification credit

divided risk endorsement

dividend accumulation

dividend addition

dividend options

dividends

divisible contract clause

docket control system

DOHSA

domestic insurer

domestic terrorism

domicile

domicile manager

domino theory

dose response

dose-response assessment

dose-response relationship

double excess coverage

double indemnity

double protection

downsizing exclusion

draft authority

dramshop liability

“D” ratio

drive other car endorsement

Driver’s Privacy Protection Act (DPPA)

drop down provision

druggist liability insurance

dry pipe sprinkler system

dual agency

dual capacity

due diligence

duty to defend

duty to pay

dwelling

dwelling property coverage forms

dynamic financial analysis (DFA)

dynamic risk

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

EAP

earned premium

earned reinsurance premium

earned surplus

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

earnings guidance

earnings insurance

earth movement or earthquake exclusion

earthquake coverage

easement

easement appurtenant

easement by prescription

easement, public

EC endorsement

ecological risk assessment

economic capital

economic cost of ruin (ECOR)

economic damages

Economic Loss Doctrine

economic or use value

economic value added (EVA)

EDD

EDP coverage

educators legal liability (ELL) insurance

EEO-1 report

effective date

effective tax rate

efficacy insurance

EFT system coverage

EIL insurance

election

election window

elective benefits

electrical damage or injury exclusion

Electronic Communications Privacy Act (ECPA)

electronic data

electronic data processing (EDP) coverage

electronic funds transfer (EFT) system coverage

electronic products errors and omissions (E&O) insurance

elevator insurance

eligibility period

elimination period

ELP factor

EMAP

embedded value

emergency

emergency medical technician (EMT) and paramedics professional liability

emergency response plan

emergency response values

employed lawyers professional liability insurance

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 (ERISA) liability

Employee Retirement Income Security Act (ERISA) of 1974

employee stock ownership plan (ESOP)

employee stock purchase plan

employee welfare benefit plans

employees as additional insureds

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

EMT

encapsulation

endangerment assessment

endemic disease coverage

endorsement

endowment insurance

energy release theory

enforceable requirements

enforcement decision document (EDD)

engaged in trade or business (ETB)

engagement letter

engineering

engineering insurance

Engineering Joint Contracts Documents Committee (EJCDC)

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

EPLI

Equal Employment Opportunity Commission

Equal Pay Act of 1963

equipment breakdown insurance

equipment floater

equitable estoppel

erection all risks insurance (EAR)

ergonomics

Erie Doctrine

ERISA liability

ERM

ERP

ERPL

error or omission in reporting endorsement

errors and omissions (E&O) clause

errors and omissions (E&O) insurance

escape provision

essential functions

estate plan

estimated premium

estoppel

ETB

event

event insurance

event risk

event triggered financings

evidence

evidence of insurability

exacerbation

exception (to exclusion)

excess

excess and surplus (E&S) lines insurance

excess cover

excess insurance

excess interest

excess liability “follow form” policy

excess liability policy

excess limit

excess lines broker

excess loss premium (ELP) factor

excess of loss ratio reinsurance

excess of loss reinsurance

excess per risk reinsurance

excess point

excess workers compensation insurance

exchange transfer embargo indemnity

exclusion

exclusive agency system

exclusive remedy

exculpatory clause

executive officer

executor

exemplary damages

exempt motor carrier

ex gratia payment

exhibitor insurance

ex-medical coverage

ex parte hearings

expatriate

expected loss

expected morbidity

expected mortality

expected or intended

expected reinsurer deficit (ERD)

expediting expense

expediting expense coverage

expense

expense allowance

expense constant

expense load

expense ratio

expense reserve

experience

experience account

experience modification

experience modifier

experience rating

experience refund

expert

expiration

expiration file

expiration notice

export and/or import embargo indemnity

exposure

exposure base

exposure-in-residence theory

exposure rating

exposure survey

express authority

expropriation

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

extra premium

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

face amount

facility emergency coordinator

factory firms

facultative

facultative automatic

facultative obligatory treaty

failure to collect contributions exclusion

failure to fund in accordance with ERISA exclusion

failure to insure exclusion

Fair Credit Reporting Act (FCRA)

FAIR (Fair Access to Insurance Requirements) Plans

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

farmowners insurance

FAS

FAS 5

FAS 113

FAS 115

FASB

FCE

FCMH&SA

FC&S warranty

feasibility study

Federal Coal Mine Health Safety Act (FCMH&SA)

Federal Employers Liability Act (FELA)

federal excise tax (FET)

Federal Highway Administration (FHWA)

Federal Insurance Contribution Act (FICA)

Federal Motor Carrier Safety Administration (FMCSA)

Federal Motor Carrier Safety Regulations (FMCSR)

Federal Savings and Loan Insurance Corporation (FSLIC)

fee-for-service

fees

fee schedule

FELA

fellow employee coverage

fellow employee exclusion

fellow employee suits coverage

Fellow in Risk Management (FRM)

Fellowship of the Chartered Insurance Institute (FCII)

FET

FICA

fidelity bond

fiduciary

fiduciary bond

fiduciary liability

fiduciary liability endorsement

fiduciary liability “follow-on” claims

field service advice (FSA)

filed forms

financed insurance

Financial Accounting Standards Board (FASB)

Financial Anti-Terrorism Act (FATA or PATRIOT Act)

financial capacity

financial disclosure claims

financial guarantee insurance

financial institution bond

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 brigade

fire department service charge coverage

fire legal liability coverage

fire-resistive construction

firewall

fire wall

FIRMette

“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

flat cancellation

flat commission

flat dividend

flat rate

fleet

fleet automatic, auto

fleet of companies

fleet policy

floater policy

flood coverage

flood exclusion

flood insurance rate map (FIRM)

floor

FOB

FOB destination

follow form

follow form professional liability endorsement

following reinsurer

following the fortunes

forced placed

force majeure

force majeure insurance

foreign commerce

foreign currency controls

foreign insurer

foreign liability coverage

foreign title equivalent coverage provision

forgery or alteration coverage

“for-hire” motor carrier

form

fortuitous event

forum shopping

forward

forward contract

“four-corners” test

FPA

FPAAC

FPAEC

fractional premium

frame construction

franchise deductible

franchise insurance

fraud

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 (FOB destination)

freight broker

freight forwarder

frequency

friable asbestos

friendly fire

FRM

front company

front pay

fronted captive

fronting

FSLIC

full coverage

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

funded covers

funded pension plan

funded retention

funded self-insurance

fund states coverage

funds withheld

furriers block policy

furriers customers insurance

future

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

garage policy

garment contractors floater

GCW

General Adjustment Bureau (GAB)

general agency system

general aggregate limit

general average losses

general counsel

general damages

general employer

general exclusions

general inclusions

general indemnity clause

general liability insurance

Generally Accepted Accounting Principles (GAAP)

general maritime law

general supervision

geographical (coverage territory) limitations

GIC

glass ceiling

glass insurance

global insurance program

glovebag

good faith settlement

“good guy” letter

good samaritan statutes

good student discount

governing classification

grace period

graded commission

graduated drivers licenses

Gramm-Leach-Bliley (GLB) Act

green building

greenmail exclusion

gross cessation

gross combination weight (GCW)

gross earnings coverage

gross loss reserves

gross negligence

gross premium

gross profits insurance

gross receipts or mileage, auto

gross vehicle weight (GVW)

gross weight

gross written premium (GWP)

ground coverage

ground up loss

group annuity

group captive

group certificate

group contract

group credit insurance

group insurance

group of companies

group-owned captive

group practice HMO

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

guaranty fund

guardian ad litem

Guertin laws

guests’ property, premises

guests’ property, safe deposit box

guest statutes, auto

GVW

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

hail insurance

hammer clause

hangar keepers liability

hard market

The Harper Group v. Commissioner

hazard

hazard class pricing

hazardous ranking system (HRS)

hazardous waste

hazard risk

HAZMAT

healing plateau

healthcare purchasers liability insurance

health care reimbursement plan

Health Insurance Portability and Accountability Act of 1996 (HIPAA)

health maintenance organization (HMO)

hedge

hedge fund

hedge instrument

hedging transaction

highly protected risk (HPR) property

high-risk community

Highway Loss Data Institute (HLDI)

hired automobile

historical cost

HMO

hold harmless agreement

holding power formula

holistic risk management

homebuilder wrap-up

home equity insurance

home foreign

home office

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 professional liability (HPL) insurance

hostile fire

hostile work environment sexual harassment

host liquor liability

hot line

Household Goods Transportation Act

HPR property

HR-10 plan

HRS

hull coverage

Humana, Inc. v. Commissioner

human equivalent dose

hurdle rate

hybrid

hybrid plans

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

IBNR

ICC Termination Act of 1995

identity theft coverage

idiopathic injury

III

ILOC

IME

immediate annuity

immediately dangerous to life and health (IDLH)

impaired property

impaired risk

impairment

impairment capital

implead

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

indemnify

indemnitee

indemnitor

indemnity

indemnity bond

indemnity clause

indemnity contract

indemnity payments

independent adjuster

independent agency system

independent contractor

independent directors policies

independent medical evaluation (IME)

independently filed form

index

index-based contracts

index bureau

indexed deductible

indexing, indexation

indirect damage loss

individual practice association

Individual Risk Premium Modification (IRPM)

industrial hygiene control

industrial insured

industrial insured group

industrial life insurance

inflation factor

inflation guard provision

informal retention

information page

Information Practices Act (SB 1386)

informed consent

inherent defects insurance (IDI)

inherent vice

in-house counsel

initial premium

initial public offering (IPO)

inland marine coverage

innkeepers legal liability

in rem endorsement

inside adjuster

insider trading

insolvency clause

inspection bureau

inspection fees

inspection reports

installation floater

installment settlement

installment tail coverage

insurability

insurable interest

insurance

insurance agent’s errors and omissions

insurance commissioner

insurance contract

insurance department

insurance examiner

insurance exchange

Insurance Information Institute (III)

Insurance Institute for Highway Safety (IIHS)

insurance line

insurance policy

Insurance Regulatory Information System (IRIS)

insurance requirements

insurance risk

insurance risk management

insurance risk score

insurance risk scoring

Insurance Services Office, Inc. (ISO)

insurance to value

insuratization

insured

insured contract

Insured Fixed-Price Cleanups (IFCs)

insured versus insured exclusion

insurer

insurer insolvency exclusion

insurer-sponsored agency captive

insuring agreement

integrated disability management (IDM)

integrated risk

intellectual property

intellectual property defense cost reimbursement insurance

intellectual property infringement abatement insurance

interchange agreements

interest rate risk

interim bill

interim (permit) status

inter-insurance exchange

interlining

interlocutory appeal

intermediary

intermediary clause

intermodal

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

interrogatory

interstate commerce

Interstate Commerce Act

Interstate Commerce Commission (ICC)

Interstate Commerce Commission (ICC) Termination Act of 1995

interstate experience rating

intrafamily immunity

intrapolicy stacking

intrastate commerce

intrastate experience rating

invasion of privacy

investment income

investment risk

invitee

IPO laddering claims

IRIS

irrevocable beneficiary

irrevocable letter of credit (ILOC)

ISO

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

jettison

jewelers block insurance

job safety analysis (JSA)

joint and several liability

joint and survivorship annuity

joint annuity

Joint Commission on Accreditation of Healthcare Organizations (JCAHO)

joint defense

joint employer

joint insurance

joint underwriting associations

joint venture

joisted masonry construction

Jones Act (Merchant Marine Act of 1920)

judgmental immunity

judgment rates

jumping juvenile insurance

jump process

jurisdiction

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

Kenney ratio

Keogh Act Plan

key man insurance

kidnap/ransom insurance

known loss provision

known loss rule

Kotecki waiver

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

LAE

Lamb-Weston Rule

lapse

lapse ratio

large deductible plan

large line capacity

laser exclusion

last injurious exposure

latent defect

lateral hire

laundry listing

law clerk

law enforcement officers liability

law of large numbers

lawyers professional liability coverage

layering

lay-up

lay-up warranty

LC5-lethal concentration

LD50-lethal dose

leading

lead reinsurer

leasehold interest

legal action against insurer

legal liability coverage form (ISO)

legal risk

lender liability

lenders liability coverage

lenders loss payable endorsement

lessee

lessees of safe deposit boxes coverage form I

lessor

less than truckload (LTL)

letter of credit (LOC)

leverage

liability

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

libel

liberalization clause

license

license and permit bond

licensed insurer/reinsurer

lien

life expectancy

life insurance trust

Life Office Management Association (LOMA)

Life Underwriter Training Council (LUTC)

limit

limitation of liability clause

limitation of risk

limited liability company (LLC)

limited losses

Limited Mexico Coverage Endorsement

limited severability provision

limit of insurance

limit of liability

“limits reduction” provision

limits under multiple policy (LUMP) years

line

line of business

line sheet

line slip

liquidated damages

liquidity

liquidity ratio

liquidity risk

liquor law liability (dramshop)

litigation

litigation management

Little Miller Acts

livestock collision

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-backs

loan participation coverage

locality standard

London form (BFPD)

Longshore and Harbor Workers Compensation Act (LHWCA)

long tail liability

long-term disability (LTD) income insurance

long-term insurance

loss

loss adjustment expense (LAE)

loss assessment

loss carry forward

loss conditions

loss constant

loss control

loss conversion factor (LCF)

loss costs

loss damage waiver (LDW)

loss development

loss development factor

losses incurred

losses in excess of policy limits

loss forecasting

loss limit

loss limitation

loss loading (multiplier)

loss mitigation underwriting (LMU)

loss of consortium suits

loss of income coverage

loss payable clause

loss payout curve

loss pick

loss portfolio agreements

loss portfolio transfer (LPT)

loss prevention

loss rating

loss ratio

loss ratio coverage

loss reduction

loss report

loss reserve

loss reserve stability

loss sensitive plans

loss trending

loss triangle

lost policy release

lowest achievable emission rate

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

malicious prosecution

malpractice

malpractice insurance

managed care

managed care coverage endorsement

managed care liability insurance

managed care organization (MCO)

management advisory services

managing general agent (MGA)

managing general underwriter (MGU)

mandatory arbitration provision

mandatory securities valuation reserve

manifestation theory

manifest system

manual premium

manual rates

manufacturers and contractors (M&C) insurance

manufacturer’s output policy (MOP)

manufacturers penalty insurance

manufacturer’s selling price endorsement

manuscript certificate of insurance

manuscript form or policy

margin clause

marina operators legal liability coverage

marine insurance

maritime law

market conduct

market conduct exam

market cycles

market risk

market service agreement (MSA)

market value

market value clause

masonry noncombustible construction

master policy

material safety data sheet (MSDS)

mature

mature claims-made

maturity

maturity date

maximum foreseeable loss (MFL)

maximum medical improvement (MMI)

maximum possible loss (MPL)

maximum premium

M&C insurance

McCarran-Ferguson Act (Public Law 15)

MCS-90 endorsement

mean reserve

mean/variance/covariance (MVC) risk modeling method

media liability coverage

mediation

mediation incentive deductible

Medicaid

medical fee schedule

Medical Insurance Compensation Reform Act (MICRA)

Medical Malpractice “Caps”

medical malpractice insurance

medical payments, auto

medical payments, general liability

medical payments, homeowners

Medicare

Medicare fraud and abuse insurance

membership accounting

members of Lloyd’s of London

mental impairment

mental-mental injuries

menu-driven policy

mercantile open stock

mercantile robbery

mercantile safe burglary

methods and means (of construction)

Mexico coverage

MGU

midi-tail

Migrant and Seasonal Agricultural Worker Protection Act (MSAWPA)

mill construction

Miller Act

Million Dollar Round Table (MDRT)

mine subsidence coverage

minimum and deposit (M&D)

minimum deposit policy

minimum premium

mini-tail

mini-trial

minor’s compromise

miscellaneous liability coverage

misrepresentation

misstatement of age provision

mix of services

mobile equipment

mobile home policy

model

model act

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

monoline

monopolistic state funds

Montrose doctrine

Montrose endorsement

moonlighting coverage

MOP

morale hazard

moral hazard

morbidity

mortality

mortality table

mortgage errors and omissions insurance

mortgage impairment insurance

mortgage insurance

mortgage (mortgagee) clause

most favored venue wording

motion

motion in limine

motion practice

motion to dismiss

Motor Carrier Act (MCA)

Motor Carrier Act Endorsement

motor carrier policy

motor home policy

motor truck cargo

motor vehicle

motor vehicle insurance law

motor vehicle registration law

multiemployer pension and benefit plans

multiple-cause situation

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 company

mutual fund

mutual insurer

mutualization

mutual law enforcement agreements

MVR

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

name

named insured

named nonowner policy or endorsement

named perils coverage

name partner

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)

nationalization

National Practitioner Data Bank (NPDB)

National Priorities List (NPL)

National Response Center

National Response Team (NRT)

National Safety Council

Nationwide Marine Definition

natural death

naturally occurring asbestos (NOA)

naturally occurring substances

NCCI

negative basis

negligence

negligence per se

negligent entrustment

negligent provider selection

net interest earned

net level premium

net line

net loss

net loss reserves

net present value

net retained liability

net retention

net risk (risk limitation)

network

net written premium

new for old

newly acquired entities

newsgathering torts

New Source Performance Standards (NSPS)

nexus

NFC mortality rate

NFIP

no-fault

no further remedial action planned

nonadmitted asset

nonadmitted balance

nonadmitted insurance (international insurance)

nonadmitted insurer

nonadmitted reinsurance

Nonappropriated Fund Instrumentalities Act

nonassessable

nonassignable

non-certified act of terrorism

noncombustible construction

nonconcurrency

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

noninsurance risk transfer

nonledger assets

nonmedical

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

nonresident agent

nonstandard auto insurance

nonsubject premium

nonsubscription

nonsuit

nontransferability provisions

noon clause

no-pay, no-play laws

normal loss

North American Industry Classification System (NAICS)

nose coverage

notary claim exclusion

notice

notice of cancellation/nonrenewal clauses

notice of circumstances during ERP provision

notice of claim provision

notice of occurrence

notice of potential claim provision

notice to the company

novation

NPL

nuclear, biological, chemical (NBC) weapons

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

object

objective findings

obligatory treaty

obligee

obligor

occupational accident insurance

occupational classification

occupational disease

occupational injury

occupational manual

occurrence

occurrence policy

occurrence year

ocean marine coverage

OCP

OCSLA

OEE

of counsel

off-balance-sheet risk

off-duty coverage

offer

office burglary and robbery

Office of Motor Carrier Standards (OMCS)

off-premises power coverage

offset clause

offshore captive

OL&T liability policy

omnibus clause

on-demand bonds, bank guarantees

ongoing operations

Online Privacy Protection Act of 2003 (AB68)

onshore captive

open perils

open rating

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)

optimization

optimum level of risk retention

option

option backdating

option instruments

optionally renewable

option spring-loading

opt-out lawsuits

ordinance or law coverage

ordinary construction

ordinary life

ordinary payroll limitation or exclusion endorsement

organizational documents

organizational risk

organizing

original gross premium (OGP)

original insurer

OSLR

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)

out of employment

outplacement services

outside directorship liability coverage

outstanding losses

outstanding loss reserves (OSLR)

outstanding premiums

overall operating ratio

overinsurance

overlapping insurance

over-line

override

overriding commission

overtime surcharge

owner controlled insurance program (OCIP)

owner-operator

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

package policy

paid-in capital

paid losses

paid loss retrospective rating plan

paid up

paid-up additions

pain and suffering

pair or set clause

PAP

par

paralegal

parameter risk

parcel post coverage

parent company

pari passu rule

parol evidence

Part A permit, Part B permit

partial disability

partial loss

partial retention

participant

participating (par)

participating policy

participating reinsurance

particular average

partner

partner controlled insurance program (PCIP)

partner-track

party

passive foreign investment company (PFIC)

passive loss

passive retention

pass-through entity

patent infringement

patient dumping

Patient’s Bill of Rights Legislation

Patient’s Compensation Funds

Paul v. Virginia

payment account

payment bond

payor benefit

payout profile

payroll

payroll audit

payroll deduction

payroll limitation

peer review

penal sum

penalty

per capita

percentage participation

per diem business interruption coverage

perfect hedge

performance bond

performance ratio

peril

peril of the sea

per-loss deductible

permanent and stationary

permanent life insurance

permanent partial disability

permanent total disability

per occurrence limitation of liability provision

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)

personal injury

personal injury protection (PIP)/no-fault

personal liability coverage

personal lines

personal property

personal risk management (PRM)

personal umbrella policy

personnel risk

per stirpes

phishing

physical hazard

physical impairment

physical-mental injuries

physical rehabilitation

P&I insurance

PIP

placement service agreement (PSA)

placement slips

plain language laws

plaintiff

planned retention

planning

plate glass insurance

pleadings

PML

point-of-entry treatment device

point-of-use treatment device

police professional liability insurance

policy

policy anniversary

policy conditions

policy date

policy definitions

policy dividend

policy expense allowance

policy fee

policyholder

policyholder dividends

policyholder surplus

policy loan

policy owner

policy period

policy registers

policy reserve

policy territory

policy writing agent

policy year

policy year experience

political risk insurance

pollutant

pollutant standard index (PSI)

pollution

pollution exclusion

pool

portfolio

portfolio reinsurance

portfolio return

portfolio runoff

portfolio transfer

Port Risk

post-emergency recovery

postmortem dividend

potentially responsible party (PRP)

power of attorney

practice insurance policy

practice policy

preauthorized check plan

precedent

pre-claim advice credit

predecessor firm coverage

preexisting condition

preferred provider organization (PPO)

preferred risk

prejudgment interest

premises

premises burglary coverage

premises-operations

premises theft and outside robbery coverage form H

premium

premium, advance

premium audit

premium basis

premium capacity

premium deposit

premium discount

premium loan

premium notice

premium payment plan

premium prepayment

premium, pure

premium reserve

premiums earned

premium tax

prepaid legal plans

preponderance of evidence

present value

preservation of property

pre-set allocation provision

presumption

presumptive indemnification provision

PRIMA

primary and non-contributory

primary beneficiary

primary cover

primary insurer

primary liability

principal

principal sum

principle of indemnification

prior acts coverage

prior and pending litigation exclusion

prior work exclusion

private carrier

private company directors officers (D&O) liability insurance

private equity firm

Private Letter Ruling

private placement

Private Securities Litigation Reform Act of 1995

privileged communication

privity of contract

probability

probability analysis

probability of ruin

probable maximum loss (PML)

probationary period

proceeds

process

process risk

process wastewater

producer

producer-owned reinsurance captive (PORC)

product

product disparagement

production of documents

product liability

product liability exclusion

product liability insurance

product recall

products-completed operations

products guarantee legal liability

products tampering insurance

professional employer organization (PEO)

professional liability

professional reinsurer

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

pro hoc vice

project liability insurance

project management protective liability (PMPL) insurance

promissory estoppel

promissory note

proof of loss

property damage

property insurance

property transfer liability insurance

proportional liability

proportional/pro rata reinsurance

proposal bond

pro rata

pro rata cancellation

pro rata distribution clause

pro rata reinsurance

proration

pro se

prospect

prospecting

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

public officials bond

public officials liability

public officials liability insurance

public or livery conveyance use

public policy exception

Public Risk Management Association (PRIMA)

publishers liability

punitive damages

purchasing group

pure captive

pure claims-made policy

pure endowment

pure loss cost

pure premium

pure risk

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 plan

qualified self-insurer

qualitative claim auditing

Quality Indicator Profile (QIP)

quantitative claim auditing

quantity discount

quantum meruit

quasi-contract

quick assets

quid pro quo

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

RACM

radiological weapon

radius class

radius of operations

railroad protective liability

railroad sidetrack agreement

rainmaker

ratable losses

rate

rate basis

rated insurer

rate discrimination

rate making

rate manual

rate of natural change

rate on line (ROL)

rating

rating bureau

rating class

rating experience

rating methodology

RBNE

RCRA

readjustment income

real estate brokers errors and omissions

real property

reasonable accommodation

reasonable repairs

reasonably available control technology (RACT)

rebate

rebating

recapture

reciprocal

reciprocal insurance

reciprocity

recision

recurrent disability

recurring clause

redact

redlining

redomiciling

reduced paid-up insurance

refund annuity

registered agent

registered mail coverage

Registered Professional Liability Underwriter (RPLU)

registers

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

reinstatement premium

reinsurance

reinsurance agreement

reinsurance assumed

reinsurance captive

reinsurance ceded

reinsurance commission

reinsurance confirmation

reinsurance credit

reinsurance/hedging strategy optimization

reinsurance intermediaries

reinsurance pool

reinsurance premium

reinsurance recoverable

reinsurance sidecar

reinsurance treaty

reinsurance wheel

reinsured

reinsurer

reinsurer’s margin

related claims provisions

related person insurance income (RPII)

related product liability exclusion

related risk

release

relief well coverage

remedial action (RA)

remedial design

remedial investigation

remedial project manager (RPM)

remedial response

remediation

remediation cost cap policy

remuneration

renewable term

renewal certificate

renewal policy

rent-a-captive

rental captive

rental cost reimbursement (cost of hire) endorsement

rents or rental value insurance

repatriation

repatriation of dividends insurance

replacement cost coverage

reportable quantity (RQ)

reported losses

reporting form coverage

reporting lag

repossessed autos endorsement

representation

representations and warranties insurance

reproduction cost

reputational risk

request for proposal (RFP)

Research and Special Programs Administration (RSPA)

reservation of rights

reserve

reserved but not enough (RBNE)

residence employee: homeowners policy

resident agent

residential wrap-up

residual market

residual market load (RML)

residual market loading

residual value insurance

res ipsa loquitur

res judicata

Resource Conservation and Recovery Act (RCRA)

respondeat superior

response action

restitution of fees

results standards

resumption plan

retail agent

retaliation claims

retaliatory law

retaliatory suits

retention

retention ability

retention plan

retirement annuity

retirement income policy

retraction provisions

retroactive conversion

retroactive date

retroactive insurance

retrocedent

retrocession

retrocessionaire

retrocessional pools

retrospective aggregates

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 premium

return-to-work program

reverse flow business

reversionary

RICO

rider

riggers liability insurance

right of offset

right of recourse provision

Right to Repair Law

RIMS

rip and tear coverage

risk

risk-adjusted return on capital (RAROC)

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

risk-adjustment investment (capital)

Risk and Insurance Management Society (RIMS)

risk appetite

risk assumption

risk-based capital (RBC) requirements

risk capital

risk charge

risk concentration

risk control

risk dashboard

risk distribution

risk financing

risk gap

risk identification

risk index

risk management

risk management information system (RMIS)

risk management process

risk management techniques

risk manager

risk map/mapping

risk pool

risk prioritization

risk profile

risk purchasing group (RPG)

risk quantification

risk reduction

risk retention

Risk Retention Act (RRA)

risk retention group (RRG)

risk securitization

risk sharing

risk shifting

risk smoothing

risk tolerance

risk types

risk volatility

RMIS

road rage

robbery

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

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

sale bond

sales

salesmen’s samples coverage

saline substances contamination endorsement

salvage

salvage value

Sarbanes-Oxley Act (SARBOX, SOX, SOx)

schedule

schedule bond

scheduled limits

scheduled loss

“Schedule P” reserve

schedule rating

school board legal liability insurance

school board liability coverage

screening clients/cases

Sears, Roebuck Co. v. Commissioner

seasonal risk

secondary beneficiary

secondary classification—special industry class

second surplus reinsurance

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)

segregation

selected tender

selection

self-contained policy

self-insurance

self-insurance pool

self-insured retention (SIR)

self-insurer’s bond

self-procurement taxes

self rating

selling price clause or endorsement

separate account

sequential-cause situation

service fulfillment insurance

servicing contractors rider

settlement lag

settlement options

severability of exclusions

severability of interests clause

severability provision in D&O applications

several liability

severity

sexual abuse exclusion

sexual harassment

share reinsurance

share repurchases

Sharpe ratio

shortfall risk

short-rate cancellation

shrinking limits defense provision

Side A coverage

Side A-only coverage

Side B coverage

sidecar reinsurance

Side C coverage

sidetrack agreement

signaling capital

significant deviation

silica

silo factor

simulation risk modeling method (often called Monte Carlo method)

single-entry, multichannel interface (SEMCI)

single interest insurance

single-owner captive

single-parent captive

single premium insurance

single state registration system (SSRS)

sinkhole collapse

SIR

sistership liability exclusion

size class

slabbed

slander

sleep insurance

sliding scale

sliding scale commission

sliding scale dividend

slip

small quantity generator

soft costs coverage

soft market

soft target

solicitor

solvency margin

solvency ratio

sophisticated insured

source revelation provisions

spamming

Spearin doctrine

special acceptance

special causes of loss form (ISO)

special damages

special employer

special flood hazard areas (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

special waiver

specifications

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

sponsor

sponsored captive

spousal coverage

spousal coverage extension

spread loss reinsurance

spread of risk

spread sectors

sprinkler leakage coverage

SR-22

SSRS

stabilization reserve

stacking

staff model HMO

stair stepping

stamp duty

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)

stare decisis

stat card

State Emergency Response Commission (SERC)

state funds

State Implementation Plans (SIP)

statement blank

static risk modeling

statistical method

statute of limitations

statute of repose

statutory accounting principles (SAP)

statutory capital

statutory coverages

statutory inspections

statutory insurance

statutory law

stay of proceedings

stevedores legal liability coverage

stevedoring

stipulation

stochastic dominance

stock captive

stock company

stock option

stock option claims

stop gap endorsement

stop loss

stop-loss reinsurance (SLR)

storekeepers broad form

storekeepers burglary and robbery policy

storm surge

Stowers Doctrine

straight life policy

strategic risk

strategic risk management

strict liability

strike coverage

strike price

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

strike-through clause

structural risk modeling methods

structured finance

structured settlement

subbroker

subcontractor default insurance

subcontractor exception

subguard insurance

subject business

subjective symptoms

subject of insurance

subject policies

subject premium

sublimit

submission

Subpart F income

subpoena

subpoena duces tecum

subrogation

subrogation provision

subrogation release

subrogation waiver

subsidence

substandard

substitute physician coverage endorsement

“sudden and accidental”

sue and labor clause

summary judgment

summons

sump pump

Superfund

superintendent of insurance

superseded surety rider

supervision coverage

supplemental extended reporting period (SERP)

supplementary employee retirement plan (SERP)

supplementary payments

surety

surety bond

surplus

surplus line

surplus lines broker

surplus lines insurance

surplus notes

surplus reinsurance

surplus relief

surplus share

surrender

survey

survival action

suspension of coverage endorsement

swap

swaption

syndicate

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

10/10 Rule

T3 Lloyd’s Form

tail

tail coverage

Tail Value at Risk (Tail VaR) or Tail Conditional Expectation (TCE)

targeted enterprise risk insurance (TERI)

targeted tender

target risk

tariff

tax acceleration

tax factor

tax harmonization

tax interruption coverage

tax multiplier

tax opinion insurance

Tax Reform Act (TRA)

Technical and Miscellaneous Revenue Act of 1988 (TAMRA)

technique of operations review (TOR) system

technology errors and omissions insurance (Tech E&O)

telecommuting

telemedicine

Telephone Consumer Protection Act of 1991 (TCPA)

temporary partial disability

temporary total disability

tender of defense

tender offer defense expense

terminal coverage

terminal operator

termination

term life insurance

terrorism

terrorism endorsement

terrorism insurance

Terrorism Risk Insurance Act (TRIA)

Terrorism Risk Insurance Extension Act (TRIEA)

Terrorism Risk Insurance Program Reauthorization Act (TRIPRA)

tertiary beneficiary

testing coverage

test modifier

that particular part

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

thermal pollution

third party

third-party administrator (TPA)

third-party claims

third-party liability coverage

third-party lien

third-party-over action

third-party risk

threshold

threshold level

threshold limit value (TLV)

tie-in endorsements

time element insurance

time element loss

time series analysis

time value of money

timing risk

Title VII of the Civil Rights Act of 1964

tolling a statute of limitations

tontine

tool and die floater

tort

tortfeasor

tort threshold

total disability

total insurable value (TIV)

total insured value provision

total pollution exclusion

toxic tort

tradable risk

trade disruption insurance

trade dress

trade libel

trading loss coverage

trailer interchange insurance

tranche

transfer of risk

transfer pricing

transit coverage

transitional duties

transportation expenses

travel agents E&O insurance

travel insurance

treaty

treaty reinsurance

trend analysis

trend factor

trespasser

trial court

trip lease

trip permit

trip transit insurance

triple excess coverage

triple trigger theory

truckers downtime insurance

truckers policy

truckload (TL)

trust agreement

trust department errors and omissions (E&O) coverage

trustee

trust fund

twisting

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 loss

ultimate net loss

umbrella liability policy

unaffiliated business

unallocated benefit

unallocated loss adjustment expenses (ULAE)

unauthorized insurer

unbundling

unconditional settlement clause

underground property damage

underinsurance

underinsured motorists (UIM) coverage

underlyers

underlying coverage

underlying interest

underlying premium

underwriter

underwriting

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

undue hardship

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 motorist (UM) coverage

unit statistical card

universal life insurance

unplanned retention

unrelated business

unrelated business income tax (UBIT)

unrelated risk

unreported claims

unseaworthiness

unusual expenses

upset coverage

URL

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

valuation

valuation date

value-added services

value-at-risk (VAR)

valued business interruption coverage

valued coverage

value of risk (VOR)

value reporting form

values

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

venue

verbal threshold

vermin

vertical exhaustion rule

vessel in navigation

vesting

vexatious litigant

viatical settlement

vicarious liability

Video Privacy Protection Act (VPPA)

vis major

vocational rehabilitation

void

voidable

voluntary compensation endorsement

voluntary compensation maritime coverage endorsement

Voluntary Employees’ Beneficiary Association (VEBA)

voluntary market

voluntary reserve

Voluntary Protection Program (VPP)

Volunteer Protection Act of 1997

voyage clause

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

WA

WA 3%

wage & hour claims

wages, maintenance, and cure

waiting period deductible

waiver

waiver of inventory

waiver of premium

waiver of recourse endorsement

waiver of subrogation

warehouse operators legal liability insurance

warehouse to warehouse clause

warehousing

war exclusion

WARN Act Exclusion

warrant

warranty

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

wet methods

wharfinger legal liability coverage

whistleblower claim

whistleblower statutes

whole life insurance

wholesale agent

wholesale broker

wholesale health insurance

wholesale insurance

wind or hail deductible

window plan

with average (WA)

with average 3 percent (WA 3%)

without prejudice

with prejudice

work hardening

workers compensation

workers compensation and employers liability policy

workers compensation catastrophe cover

working layer

workmanship exclusion

workplace tort

workplace violence insurance

worldwide insurance program

wrap-around policy

wrap-around risk financing program

wrap-up

wrap-up exclusion endorsement

writ

write

Write-Your-Own (WYO) Program

written premium

wrongful act

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

Yellow Book

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

Z-list

zone rating

zone system

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

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