Glossary Of Insurance Terminology

Glossary Understand Insurance

Glossary 30 People Used

A formal document providing evidence that an insurance policy has been issued by an insurer containing the details of the type of insurance cover, its value, any exclusion or excess limits, the premium and the period of the insurance cover (how long it …

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Glossary Of Insurance Terms

Glossary 27 People Used

The original Glossary of Insurance Terms was compiled by John s. Bickley, Phd, and the late robert W. Osler. Both men served on operating commit - tees of the commission on Insurance Terminology (cIT), which worked to develop more precise insurance definitions during 1958–1971, and both sought to continue the efforts of the commission. Thomas e.

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AZ General Insurance Glossary: Words, Meaning & Terms

General 57 People Used

Glossary on General Insurance Terms A to Z. A. AS IS WHERE IS : Refers to a present state of condition and location of the goods at the time of sale, in which case the buyer takes on all the risks. ANY ONE ACCIDENT (AOA) : One or more claims related to the same error or omission in a professional service. ANY ONE VESSEL (AOV) : Commonly used in

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Glossary And Acronyms Lloyd's

Glossary 30 People Used

Glossary and acronyms Glossary of insurance related terms used by Lloyd's and market participants. The following definitions are intended for general guidance. They do not override or qualify any definition that appears in any Lloyd’s byelaw or regulation, in any contract or in any other document. Home Help Glossary and Acronyms

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Glossary Of Insurance Terms Allianz

Glossary 36 People Used

This is why we've created this Glossary of Terms where insurance terminology is simplified and explained for you. Principles of Insurance. Your policy of insurance is a contract. You pay the agreed premium. In return your insurer provides the insurance cover for a defined period of time.

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Insurance Terms & Definitions Orange Insurance & Bonding

Insurance 65 People Used

Insurance coverages. When reading the definitions, please keep in mind that this glossary is provided as a guide only curated from various sources. These general definitions are provided for educational purposes. Please refer to your policy or certificate of insurance for exact definitions of terms and coverage provisions.

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Glossary Of Insurance Terms QBE

Glossary 32 People Used

Glossary of insurance terms. Accident year experience The matching of all claims occurring (regardless of when reported or paid) during a given 12 month period with all premium earned over the same period. Acquisition cost The total of net commission and operating expenses incurred in the generation of net earned premium and often expressed as

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Glossary Of Insurance Terms – Insurance Law Help

Insurance 50 People Used

Glossary of insurance terms meant as a resource for our readers, including a list of terms that are common in insurance policies and “lingo” and their definitions as follows: Actual Cash Value: This is the value of replacing an item of personal property minus the depreciation. Adjuster: Representative of the insurance company who attempts to

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Glossary Of Common Insurance Terms – Nationwide

Glossary 49 People Used

Continuous insurance When a policyholder has been insured by one or more insurance companies, without any lapse in coverage, for a specified period of time. Credit based insurance score A number representing the likelihood of loss, assigned to …

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Glossary Of Health Coverage And Medical Terms

Glossary 45 People Used

Glossary of Health Coverage and Medical Terms. Page . 2. of . 4. Excluded Services. Health care services that your health insurance or plan doesn’t pay for or cover. Grievance. A complaint that you communicate to your health insurer or plan. Habilitation Services. Health care services that help a person keep, learn or

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Glossary Of Insurance Terms

Glossary 39 People Used

An authorized representative of an insurance company who sells and services insurance contracts. See producer, exclusive agent, independent agent. aggregate exposure, gross Total outstanding insured principal and interest. aggregate exposure, net Gross aggregate exposure less exposure ceded to reinsures. aggregate indemnity

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Glossary Insurance Information

Glossary 51 People Used

Contact IRMI. International Risk Management Institute, Inc. 12222 Merit Drive, Suite 1600 Dallas, TX 75251-2266 (972) 960-7693 (800) 827-4242

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Frequently Asked Questions

What is term term insurance?

Term insurance which can be renewed at the end of the term, at the option of the policyholder and without evidence of insurability, for a limited number of successive terms. The rates increase at each renewal as the age of the insured increases.

Why did we create this insurance glossary?

That’s why we created this insurance glossary with the terms you need to know, in plain English. We want to help you make smarter, more informed decisions about protecting yourself, your family and your finances. Signing over ownership of an entire insurance policy to another party. There are a variety of reasons why a policyholder may do this.

What are the different types of common insurance terms?

Insurance Glossary – Understanding Common Insurance Terms 1 Habilitative/Habilitation Services 2 High Deductible Health Plan (HDHP) 3 Home and Community-Based Services (HCBS) 4 Named Insured 5 Obamacare 6 Open Enrollment Period 7 Value Based Purchasing Model (VBP) 8 Vehicle Identification Number (VIN

What is an insurance policy?

The legal document issued by the company to the policyholder, which outlines the conditions and terms of the insurance; also called the policy contract or the contract. • Policy Term: That period for which an insurance policy provides coverage.

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