Insurance Institute Glossary Of Terms
The information has been gathered from many sources believed to be reliable but the association assumes no responsibility for the accuracy of the information.
Insurance institute glossary of terms. Exclusion a risk or item specifically not covered by a policy. 61 3 9613 7200 new zealand freecall 0800 103 675 or email us at email protected or purchase a copy of this book. Definitions provided by insurance bureau of canada are indicated with an asterisk. There are approximately 1 700 terms in this edition and it s an invaluable resource for your insurance education and professional development.
Most of the definitions below are provided courtesy of the insurance institute of canada. The dictionary of insurance presents words and expressions that are found in common use in the property and casualty insurance industry. There is also a comprehensive glossary of insurance and risk management terms available from the international risk management institute. Below are some commonly used insurance terms and their meanings.
The university of calgary s haskayne school of business hosts a useful glossary of risk management insurance terms. Our new report analyses the risks in today s market and finds a threat an opportunity and an issue for the industry to address. Contact our customer service team. This is the first amount of any insurance claim that the customer agrees to pay as part of the policy conditions the insurer pays the rest.
This is a glossary of shipping terms and marine terminology as it pertains to marine insurance. Ex gratia payment any payment made by an insurance company that is outside the terms of the policy. The definitions in this glossary are developed by the naic research and actuarial department staff based on various insurance references. The language of insurance can be quite complex and confusing.
Insurance and risk management terms. Under that policy the insurer must compensate the policyholder in accordance with the policy s terms and conditions if the asset is damaged or destroyed and the policyholder makes a claim. Insurance glossary free articles. 12222 merit drive suite 1600 dallas tx 75251 2266.
This page provides a glossary of insurance terms and definitions that are commonly used in the insurance business. An asset in insurance terms is something with monetary value that is covered by an insurance policy such as a car or a property. Two such glossaries are of particular use to visitors and customers of insurance canada ca. 3 key findings cyber risks 2019 cyber risks 2019.
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