An apportionment clause sets out how several insurers divide a common loss when the same property or liability is covered by more than one policy.

An automatic treaty form where a portion of each covered policy is shared with a reinsurer on a fixed proportion.

A state-run mechanism that gives drivers with high risk or poor underwriting results access to minimum legally required auto coverage.

The gradual repayment of a debt or financing cost over scheduled periods.

A policy industry group representing carrier perspectives on insurance regulation.

A professional education institution for insurance and risk professionals.

Specialized insurance covering aircraft, liability, and related aviation risks.

Assessable insurance allows an insurer to impose additional premium assessments if losses significantly exceed the initial premium base.

Assessment insurance uses additional assessments to cover losses above initial premium expectations.

A retirement plan design where employer contributions are based in part on employee age and time horizon.

A temporary life coverage form for specific trips or periods of flight activity.

Situation in which policyholders surrender policies for cash in ways that leave insurers with a higher-risk group.

Situation in which an insurer later accepts an agent's unauthorized act and treats that act as authorized from the beginning.

The maximum total amount an insurer will pay for covered losses during a contract period.

The intentional and malicious setting of fire, with major implications for insurance fraud detection and non-payment defenses.

An assessment company can charge additional premiums when collected premiums are insufficient for claims and operating costs.

In insurance company accounts, an asset is an owned resource expected to provide future economic value.

The insured person’s age at a specific date, often used for pricing and policy adjustments.

A reinsurance structure where coverage automatically follows a cedant's portfolio once loss thresholds are reached.

An accredited advisor is a professional with recognized exams and training to provide insurance guidance under documented standards.

The American agency system describes insurance distribution through independent and appointed agents who represent multiple carriers.

The Appleton Rule requires insurers doing business in New York to follow New York insurance law and filing requirements.

Acceleration life insurance allows part of the life benefit to be paid early when qualifying medical or terminal illness conditions are met.

Additional living expense reimburses temporary housing and essential life costs when a covered dwelling is uninhabitable.

An agreed amount clause sets a fixed insured value or settlement approach that all parties accept in advance.

The net amount of coverage still exposed to loss at the time of a policyholder's death or event.

The value assigned by a government authority for tax purposes, which is often different from replacement or market value.

An attestation clause requires authorized officers to confirm the validity of a contract by signing it.

Coverage that protects the insured vehicle itself from accidental, fire, theft, and other non-liability losses.

A take-it-or-leave-it policy form where the insurer drafts the terms and the policyholder accepts them as written.

A policy premium value that includes a policy’s net premium plus assigned first-year acquisition expenses.

A policy clause that allows approved changes to premium, coverage, or duration under defined conditions.

The tendency for higher-risk applicants to seek coverage at average rates while better risks stay out or leave.

An actuarial pricing convention that can use a younger age than the insured's actual age to set life insurance premiums.

Annuity analysis compares annuity options based on payout profile, insurance carrier strength, fees, and rider effects.

A statutory reserve component established to absorb investment value declines and support solvency.

A legal defense where a party knowingly accepts certain risks through voluntary participation.

A premises-liability doctrine where landowners can be liable for hazards that attract children.

A plain-language guide to what auto coverage pays for, how it is rated, and how claims are resolved for vehicles and trailers.

Automatic coverage protects newly acquired or newly valued property for a short period before the policy is formally endorsed.

An insurance clause that increases benefit payments on a schedule, helping long-term income protection keep pace with rising costs.

A disability-related benefit formula that pays based on an insured income average during an initial period.

An aviation-related danger that increases expected loss severity and influences premium class, exclusion language, and underwriting requirements.

An abandonment clause prevents policyholders from declaring total loss on property that still has recoverable salvage value.

AD&D insurance pays a predefined benefit when an accidental death or serious dismemberment event meets policy definitions.

Adjustable life insurance lets policyholders change face amount, premium, or duration within approved policy and underwriting rules.

A temporary life insurance payout to help a beneficiary cover ongoing expenses after the insured’s death.

The practice of setting aside assets now to meet known insurance-backed benefit obligations later.

The maximum total amount payable under a policy for all covered claims within a period.

An insurer incorporated outside the host country that is licensed to do business in the jurisdiction.

A trade organization for property and casualty insurers.

Ancillary benefits are secondary benefits in a policy, such as imaging, supplies, or therapy support.

A yearly financial filing that shows an insurer's condition, operations, and claim experience.

A payout for minor cosmetic damage so the insured can keep damaged property or parts.

An appointed actuary certifies an insurer’s liability reserves so policyholders can rely on the company’s solvency and claims-paying ability.

The allocation of a shared insurance loss across multiple coverages, policies, or insurers according to contract language and limits.

An independent estimate of property value used to set adequate insurance coverage and resolve valuation disputes.

An appraisal clause lets either party request independent valuation when the parties disagree on the amount of a property loss.

An arbitration clause sets a private dispute process for claims disagreements, usually faster than court litigation.

The risk that the value of owned assets falls faster than expected, reducing financial flexibility.

The process of estimating the current worth of assets used in underwriting, reserving, and solvency analysis.

An assignment clause governs when and how a policy can be transferred from one owner to another.

A group of insurers that jointly underwrite large risks and share premiums and losses.

A reinsurance transfer where the reinsurer takes over full policy obligations from the cedent.

A medical report used in health and life underwriting to verify condition history and treatment details.

Reinsurance protection that activates automatically under predetermined conditions without a case-by-case placement each term.

Insurance that pays for third-party bodily injury and property damage when the insured driver is legally liable.

A life-or-accident form that pays a lump sum or defined benefit when a covered person dies or is seriously injured in an aviation accident.

Absolute liability imposes responsibility for certain high-risk acts without proving negligence.

A sudden, unintended event that is generally covered by accident-triggered insurance terms unless exclusions apply.

A natural event beyond human control, used in policy language to test coverage and exclusion boundaries.

An extra rider payment that increases what beneficiaries receive when the base death benefit settles.

Alternative dispute resolution covers methods used to settle insurance conflicts outside normal court litigation.

An industry group representing life insurers on legislative and policy issues.

The maximum amount an insurer will pay for all claims in a policy year for a class of coverage.

A contract where an insurer makes regular payments to the owner for a period or lifetime.

Appurtenant structures are separate buildings or facilities on insured premises, such as garages or sheds, that are covered under specific property policy terms.

The projected return rate used in certain annuity payment formulas at issue.

A clause that restores policy limits or values automatically after certain partial losses without waiting for a full underwriting restart.

The usual semi-private hospital room charge benchmark used in coverage calculations, usually based on region and provider data.

The wage rate used in many disability and workers compensation calculations to set benefit levels and duration.

A policy exclusion that removes coverage for specified flight-related injuries or deaths, often for certain classes of aviation activity.

A life policy feature that advances unpaid premiums from policy cash value to keep coverage in force temporarily.

A single deductible amount that can apply to multiple losses during one policy year.

Allocated benefits are portions of an insurance payment reserved for specific care categories or expense types.