Insurance and risk management terminology · MLC-0106

Insurance and risk management terms: A (257)

• "A" ratesA premium rate set by an underwriter's own judgment for one hard-to-price risk, instead of being taken from...
• A201 construction contractA standard general conditions document published by the American Institute of Architects (AIA), widely used...
• AbandonmentThe act of relinquishing ownership or interest in insured property to the insurer, typically after a loss, in...
• AbatementThe reduction, elimination, or mitigation of a hazard, nuisance, or harmful condition that could lead to a...
• ABC testA legal standard used in some jurisdictions to determine whether a worker is an independent contractor or an...
• "Absolute" exclusionsPolicy provisions that eliminate coverage for specific perils or types of claims without exception or...
• Absolute pollution exclusionA broad exclusion in liability insurance policies that eliminates coverage for virtually all...
• Absorbed doseThe amount of energy deposited by ionizing radiation per unit mass of material, measured in grays (Gy) or...
• AcceptTo agree to provide insurance coverage for a particular risk, typically after evaluating the application and...
• Access to records clauseA contractual provision in an insurance or reinsurance agreement granting the insurer or reinsurer the right...
• Accessory structureAn accessory structure is a structure which is on the same parcel of property as a principal structure and...
• AccidentAn unforeseen and unintended event that occurs suddenly and at a definite time and place, resulting in injury...
• Accident and health insuranceA type of insurance that provides coverage for losses due to accidental bodily injury, sickness, or disease...
• Accident year dataStatistical information compiled for all claims that occurred within a specific calendar year, regardless of...
• Accident year experienceThe aggregate of all losses and premiums associated with insurance policies that experienced an accident or...
• Accidental deathA death resulting directly and independently from an unforeseen and unintentional event, rather than from...
• Accidental death and dismemberment (AD&D)An insurance policy or rider that pays a specified benefit if the insured dies as a result of an accident or...
• Accidental death benefit (ADB)A provision in a life insurance policy that pays an additional sum to the beneficiary if the insured's death...
• Accidental death insuranceA type of insurance that pays a lump sum benefit to beneficiaries if the insured dies solely as a direct...
• Accidental meansA legal concept in insurance that distinguishes between an accidental result and an accidental cause of...
• Accommodation lineA line of insurance that an underwriter agrees to write as a favor to a valued agent or broker, even though...
• Account currentA periodic statement, usually monthly, from an insurance agent or broker to an insurer, summarizing the...
• Accountable care organization (ACO)A group of healthcare providers, including doctors, hospitals, and other clinicians, who voluntarily come...
• Accountants professional liability insuranceCoverage designed to protect accounting professionals and firms from claims alleging financial loss due to...
• Accounts receivable coverage (AR)Insurance protection for a business against losses resulting from the inability to collect outstanding...
• AccreditationA formal recognition granted to an organization, program, or individual by an independent body, indicating...
• Accredited Adviser in Insurance (AAI)A professional designation awarded to individuals who complete a specialized curriculum and pass examinations...
• AccumulationThe aggregation of insured values or losses at a single location or arising from a single event, which can...
• Accumulation periodThe phase in an annuity contract during which the policyholder makes payments into the annuity, and the funds...
• Acquisition costsExpenses incurred by an insurer to acquire new business, including commissions paid to agents and brokers...
• ActThe National Flood Insurance Act of 1968 and any amendments to it.
• Act of GodAn event arising from natural causes without any human intervention that could not have been prevented by...
• Action levelsPredetermined thresholds or concentrations of a hazardous substance or pollutant that, when exceeded, trigger...
• Active life fundThe accumulated reserves held by an insurer for disability income policies that are currently in force and...
• Actively at work provisionA clause in group insurance policies, such as life or disability insurance, that requires an employee to be...
• Activity standardsA set of quantitative and qualitative benchmarks used by insurance companies to measure the performance and...
• Actual cash valueThe cost to replace an insured item of property at the time of loss, less the value of physical depreciation.
• Actual cash value (ACV), see Actual cash value
• Actuarial reportA formal document prepared by an actuary that provides an independent assessment of an insurer's financial...
• ActuaryA professional who applies mathematical and statistical methods to assess risk in insurance, finance, and...
• Acute careMedical treatment provided for a short period to address severe illness, injury, or urgent medical...
• Acute exposureContact with a harmful substance or condition over a short duration, typically lasting less than 24 hours. In...
• Acute toxicityThe adverse effects that occur rapidly after a single or short-term exposure to a substance. These effects...
• ADA Amendments Act of 2008 (ADAAA)A federal law that broadened the definition of disability under the Americans with Disabilities Act (ADA) of...
• AdditionAn addition is an improvement that increases the square footage of a structures. These include lateral...
• Additional deposit privilegeA contractual provision in a life insurance policy or annuity that allows the policyholder to make extra...
• Additional insured (AI)A person or organization, not the primary policyholder, who is granted a degree of protection under an...
• Additional insured endorsementA modification to an insurance policy that adds another party to the coverage, granting them certain rights...
• Additional living expense coverage (ALE)A component of homeowners or renters insurance that pays for the increased costs of living incurred when a...
• Additional named insuredAn individual or entity explicitly listed on the declarations page of an insurance policy, alongside the...
• Additional term insurance optionA dividend option in a participating life insurance policy under which the declared dividend is used as a net...
• Add-on control deviceEquipment installed on an existing system or process to reduce emissions or mitigate other environmental...
• "Add-on" no-fault lawsAutomobile insurance statutes that require insurers to offer or provide personal injury protection (PIP)...
• Adhesion contractA standardized contract drafted by one party and presented to another on a "take it or leave it" basis, with...
• Adjustable featureA provision in an insurance contract that lets premiums, fees or benefits be changed after a policy is...
• Adjusted earningsA financial metric derived by modifying a company's reported earnings to exclude certain non-recurring...
• Adjusted net worthA financial calculation that modifies a company's reported net worth by re-evaluating certain assets and...
• AdjusterA professional who investigates insurance claims to determine the extent of the insurer's liability and the...
• Administrative lawThe body of law that governs the activities of administrative agencies of government, such as insurance...
• Administrative orderA directive issued by a governmental administrative agency that requires an individual or entity to take or...
• Administrative Order on Consent (AOC)A legally binding agreement between a government agency, such as the Environmental Protection Agency (EPA)...
• Administrative services only (ASO)An arrangement where an insurer or third-party administrator manages the claims processing, record-keeping...
• AdministratorA third party responsible for managing the operational aspects of an insurance program or employee benefits...
• Admiralty lawA specialized body of law that governs maritime activities, including shipping, navigation, marine commerce...
• Admitted assetsAssets recognized by state insurance regulators as legitimate and liquid, which an insurer can include on its...
• Admitted companyAn insurance company that has been licensed by a state's insurance department to conduct business within that...
• Admitted insuranceInsurance coverage placed with an insurer licensed to operate in the state where the policyholder resides or...
• Admitted insurerAn insurance company authorized by a state's department of insurance to conduct business within that state...
• Admitted reinsuranceReinsurance placed with a reinsurer that is licensed or authorized to operate in the ceding insurer's...
• Admitted reinsurerA reinsurance company licensed or authorized to conduct business in a specific state or jurisdiction. This...
• Advancement of defense costs provisionA policy clause requiring an insurer to pay for legal defense expenses as they are incurred, rather than...
• Adverse selectionThe tendency for individuals with a higher-than-average probability of loss to seek out or continue insurance...
• AdvertisementA notice or announcement in a public medium promoting a product, service, or event or publicizing a job...
• Advertising injuryA type of personal and advertising injury coverage found in commercial general liability (CGL) policies...
• Advisory endorsementAn endorsement form listed in a rating bureau's forms manual whose use is left to the insurer, in contrast...
• AffiantA person who makes a sworn statement, known as an affidavit, under oath or affirmation. In insurance...
• AffidavitA written statement of fact voluntarily made by an affiant under oath or affirmation, confirmed before a...
• Affinity salesA marketing and distribution strategy where an insurer partners with a non-insurance organization, such as a...
• Affirmative defenseA legal defense in which the defendant introduces new evidence or arguments that, if found to be credible...
• Age Discrimination in Employment Act (ADEA) of 1967A federal law prohibiting employment discrimination against individuals who are 40 years of age or older. It...
• AgencyA business entity or individual authorized to represent an insurance company in selling and servicing...
• Agency agreementA formal contract between an insurance company and an insurance agency or agent, outlining the terms and...
• Agency captiveA captive insurance company owned by an insurance agency or brokerage firm, rather than by a single operating...
• Agency construction managementA project delivery method where the construction manager (CM) acts as a fiduciary and advisor to the property...
• Agency plantThe collective resources and infrastructure of an insurance agency, encompassing its network of producers...
• Agency systemA method of distributing insurance products through independent agents or agencies that represent multiple...
• AgentAn individual authorized to sell and service insurance policies on behalf of an insurance company. Agents act...
• Agent of recordThe specific insurance agent or agency formally designated by a policyholder to represent them in their...
• Agents errors and omissions (agents E&O)Professional liability insurance specifically for insurance agents and brokers, protecting them against...
• Agent's licenseA formal authorization issued by a state insurance department that permits an individual to sell, solicit, or...
• AggravationThe worsening of a pre-existing injury or medical condition due to a new, intervening event. In insurance...
• AggregateThe total amount of money an insurer will pay for all covered losses during a specific policy period...
• Aggregate deductibleA type of deductible that applies to the total amount of all covered losses incurred during a specified...
• Aggregate excess insuranceA form of reinsurance or self-insurance protection that covers losses after they exceed a certain total...
• Aggregate excess of loss reinsuranceA type of reinsurance where the reinsurer indemnifies the ceding insurer for the amount by which the ceding...
• Aggregate limit of liabilityThe maximum amount an insurer will pay for all covered losses during a specific policy period, regardless of...
• Aggregate limits reinstatementA provision in an insurance policy that allows for the restoration of the aggregate limit of liability after...
• Aggregate stop-loss reinsuranceA type of reinsurance that protects a primary insurer from total losses exceeding a predetermined amount over...
• Agreed value coverage option or provisionA policy feature where the insurer and insured agree on the value of the insured property at the time the...
• Agribusiness and Farm Insurance Specialist (AFIS)A professional designation awarded to insurance agents and brokers who complete a specialized curriculum...
• Agricultural structureA structure used solely for agricultural purposes in which the use is exclusively in connection with the...
• Air quality control regionA geographical area designated by the U.S. Environmental Protection Agency (EPA) for the purpose of managing...
• Air quality standardsLegal limits on the concentration of pollutants in the ambient air, established by governmental bodies to...
• Air strippingA remediation technology used to remove volatile organic compounds (VOCs) from contaminated groundwater or...
• Air toxinsHazardous air pollutants that are known or suspected to cause cancer or other serious health effects, such as...
• Airborne particulatesMicroscopic solid or liquid particles suspended in the atmosphere, often referred to as particulate matter...
• Aircraft insurance policiesInsurance contracts designed to cover risks associated with the ownership and operation of aircraft...
• Airport premises liabilityThe legal responsibility of an airport owner or operator for injuries or damages sustained by individuals on...
• Aleatory contractA type of contract where the performance of one or both parties is contingent upon the occurrence of an...
• Alien insurerAn insurer organized under the laws of a country other than the United States, as distinct from a domestic...
• Alienated premisesPremises that the insured has sold, given away or abandoned. Under the damage to property exclusion in the...
• All inclusive coverageA type of insurance policy that provides protection against all perils or risks, except for those...
• All risks coverage (AR)An insurance policy that covers losses arising from any cause unless specifically excluded in the policy...
• All risks, difference-in-conditionsA type of property insurance that provides coverage for perils not included in the insured's standard...
• All risks, ground and flightA type of aircraft hull insurance coverage that protects against physical damage to the aircraft while it is...
• All risks, not in motionA type of aircraft hull insurance that covers physical damage to the aircraft only when it is on the ground...
• AllegationsStatements or claims made by a party in a legal proceeding, asserting facts that they intend to prove. In...
• Allied healthcare professional liability insuranceCoverage for healthcare professionals who provide services that support medical care but are not physicians...
• Allocated expensesCosts directly attributable to a specific insurance claim, such as legal fees, investigation costs, and...
• Allocated loss adjustment expense (ALAE)Specific expenses incurred by an insurer in the process of investigating, defending, and settling a...
• AllocationThe process of distributing costs, losses, or responsibilities among multiple parties, insurers, or policy...
• Alluvial fan floodingFlooding occurring on the surface of an alluvial fan or similar landform which originates at the apex and is...
• Alteration of a watercourseAlterations are often made to the channels of rivers, stream, or drainageways, usually to improve drainage...
• Alteration of medical records exclusionA provision in professional liability policies for healthcare providers that specifically denies coverage for...
• Alternate employer endorsementA workers' compensation endorsement that names an alternate employer, such as the client of a staffing or...
• Alternative Assessment Procedure (AAP)A Canadian workers' compensation arrangement for interjurisdictional trucking and transport firms. Instead of...
• Alternative dispute resolution (ADR)Methods for resolving legal disputes outside of traditional court litigation, such as mediation, arbitration...
• Alternative dispute resolution provisionA clause within an insurance policy or contract that mandates or permits the use of non-judicial methods...
• Alternative litigation financing (ALF)The practice of third-party investors providing funds to plaintiffs or law firms to cover litigation expenses...
• Alternative ratingA rating method used when a building is Pre-FIRM, the Flood Insurance Rate Map (FIRM) zone is unknown, and...
• Alternative remedial contract strategy contractorsThe private engineering and consulting firms that held regional contracts under the US Environmental...
• Alternative risk financing facilitiesThe specific entities and structures, such as captive insurers or risk retention groups, that organizations...
• Alternative risk transfer (ART)Innovative methods and financial instruments used to transfer or finance risks outside of the traditional...
• Alternative risk transfer marketThe sector of the financial and insurance industries offering non-traditional methods for managing and...
• A.M. Best ratingAn independent opinion issued by A.M. Best Company regarding an insurance company's financial strength and...
• Amendment of Insured Contract Definition endorsementAn ISO endorsement, form CG 24 26, that narrows the insured contract definition in a commercial general...
• AMERCO v. CommissionerA Tax Court decision of 1991, affirmed by the Ninth Circuit in 1992, that allowed AMERCO and its operating...
• American Academy of Insurance Medicine (AAIM)A professional organization for physicians who specialize in the application of medical knowledge to the...
• American Association for Long-Term Care InsuranceA national organization that provides information and advocacy for consumers, insurance professionals, and...
• American Association of Insurance Services (AAIS)A national insurance advisory organization that develops policy forms, rating information, and loss costs for...
• American Council of Life Insurers (ACLI)A trade association representing life insurance companies and financial services institutions in the United...
• American Institute for Chartered Property Casualty Underwriters (AICPCU)The nonprofit educational body, founded in 1942 as the American Institute for Property and Liability...
• American Institute of Architects (AIA)A professional membership organization for licensed architects and those in the architecture profession in...
• American Institute of Certified Public Accountants (AICPA)The professional organization for Certified Public Accountants in the United States, setting ethical...
• American Insurance Association (AIA)A former property and casualty insurance trade association, the American Insurance Association, that lobbied...
• American Medical Association (AMA)A professional organization for physicians and medical students in the United States, dedicated to promoting...
• American Society for Healthcare Risk Management (ASHRM)A professional membership group of the American Hospital Association (AHA) for individuals engaged in...
• American Transportation Research Institute (ATRI)A non-profit research organization that conducts studies on transportation issues, with a focus on the...
• American Trucking Associations, Inc. (ATA)The largest national trade association for the trucking industry in the United States. It advocates for...
• Americans with Disabilities Act (ADA) of 1990A United States federal law that prohibits discrimination against individuals with disabilities in all areas...
• America's Health Insurance Plans (AHIP)A national political advocacy and trade association representing the health insurance industry in the United...
• Amount at riskThe difference between a life insurance policy's death benefit and its cash value, which is the sum the...
• Amount subjectThe total value of property at risk at a specific location or within a defined area, which could be affected...
• AnchoredAdequately secured to prevent flotation, collapse or lateral movement.
• AnchoringIf a proposed building site is in a flood-prone area, all new construction and substantial improvements shall...
• Animal mortality insuranceA specialized type of insurance that provides coverage for the death of animals due to accident, illness...
• Anniversary dateThe specific calendar date on which an insurance policy or contract was originally issued or renewed. This...
• Anniversary rating dateThe specific date each year on which an insurance policy's rates are reviewed and potentially adjusted. This...
• Annual aggregate deductibleA deductible that applies to the total amount of all covered losses occurring within a policy year, rather...
• Annual statementA detailed financial report that an insurance company is required to file each year with the insurance...
• AnnuitantThe individual on whose life an annuity contract is based and who receives the periodic payments from the...
• AnnuityA financial contract issued by an insurance company that provides a stream of regular payments over a...
• Annuity certainAn annuity that guarantees payments for a fixed period, regardless of whether the annuitant lives or dies...
• Annuity dueAn annuity in which the payments are made at the beginning of each period, rather than at the end. This...
• AnswerA formal written response filed by a defendant in a lawsuit, addressing the allegations contained in the...
• Anti-assignment clausesProvisions within an insurance policy or contract that restrict or prohibit the transfer of rights or...
• Anti-concurrent causation language (ACC)Policy wording that excludes coverage when a loss is caused by two or more perils, and at least one of those...
• Anti-concurrent cause provision (ACC)A clause in an insurance policy that excludes coverage when a loss is caused by two or more perils...
• Anti-indemnity statuteA law that prohibits or limits the ability of one party in a contract to require another party to indemnify...
• Anti-stacking provisionsClauses in an insurance policy that prevent an insured from combining or accumulating the limits of liability...
• Antitheft deviceAny mechanism or system installed in a vehicle or property designed to deter theft or aid in its recovery...
• Antitrust liabilityThe legal responsibility for engaging in business practices that restrict competition, such as price-fixing...
• Apparent agencyA legal doctrine where a principal is bound by an agent's actions if a third party reasonably believes the...
• AppealA formal request made to a higher authority to review and reverse a decision made by a lower one. In...
• ApplicantAn individual or the head of a household who has applied for Federal disaster assistance. 44 CFR 206.111
• ApplicationA form completed by a prospective policyholder providing information to an insurance company for underwriting...
• Application of retentionThe process by which an insured party pays a predetermined portion of a loss before the insurance policy...
• ApportionmentThe process of dividing a loss or expense among multiple insurers or parties responsible for the coverage...
• Appraisal clauseA provision in an insurance policy that outlines a process for resolving disputes between the insured and the...
• Appraisers errors and omissionsProfessional liability insurance designed for real estate, art, or other valuation appraisers, protecting...
• ApprovalThe formal acceptance or sanction by an insurer of a proposed insurance application, policy change, or claim...
• Appurtenant structure1. A detached garage servicing a 1-4 family dwelling.
• ArbitrationA method of dispute resolution where a neutral third party, known as an arbitrator, hears evidence and...
• Arbitration clauseA provision within an insurance policy or contract that requires disputes between the parties to be resolved...
• Architects and engineers liability coverage (A&E)Professional liability insurance specifically tailored for architectural and engineering firms, protecting...
• As their interests may appear (ATIMA)A phrase attached to a loss payable or mortgagee clause directing that a claim payment go to each named...
• AsbestosA set of six naturally occurring silicate minerals composed of long, thin fibrous crystals, valued...
• Asbestos abatementThe process of safely removing or encapsulating asbestos-containing materials from a building or structure to...
• Asbestos program managerAn individual or entity responsible for developing and overseeing a facility's plan for managing...
• Assessment companyA mutual insurer that pays losses by levying assessments on its policyholders after the losses occur, rather...
• Asset allocationThe strategy of dividing an investment portfolio among different asset classes, such as stocks, bonds, and...
• Asset classA grouping of investments that exhibit similar characteristics and behave similarly in the marketplace...
• Asset riskThe risk of loss on the investments an insurer holds, arising from default of bonds and mortgages or a fall...
• Asset share valueThe accumulated value of a life insurance policyholder's contributions, less expenses and claims, plus...
• Assigned risk plan (AR)A state-administered program that provides insurance coverage to individuals or businesses unable to obtain...
• AssigneeThe party to whom rights or benefits under an insurance policy are transferred by another party, known as the...
• AssignmentThe legal transfer of a policyholder's rights, title, or interest in an insurance policy to another party. In...
• AssociateA professional designation from the family created by the Insurance Institute of America, now part of The...
• Associate in Automation Management (AAM)A designation of the Insurance Institute of America, now part of The Institutes, for the information services...
• Associate in Claims (AIC)A professional designation for claims professionals, awarded by The Institutes in the United States. The...
• Associate in Fidelity and Surety Bonding (AFSB)A professional designation awarded by The Institutes for individuals working with fidelity and surety bonds...
• Associate in Information Technology (AIT)A designation from The Institutes for people who work with insurance technology and data. It is built on...
• Associate in Insurance Accounting and Finance (AIAF)A professional designation awarded by The Institutes to individuals who possess specialized knowledge in...
• Associate in Insurance Services (AIS)A professional designation awarded by The Institutes to individuals who have developed a foundational...
• Associate in Loss Control Management (ALCM)A professional designation awarded to individuals who demonstrate expertise in identifying, evaluating, and...
• Associate in Management (AIM)A professional designation for individuals in the insurance industry who have developed skills in management...
• Associate in Personal Insurance (API)A professional designation awarded to individuals who complete a specialized curriculum focused on personal...
• Associate in Premium Auditing (APA)A professional designation for individuals specializing in the examination of an insured's records to...
• Associate in Reinsurance (ARe)A professional designation for individuals working in the reinsurance sector, signifying expertise in the...
• Associate in Research and Planning (ARP)A professional designation awarded by The Institutes to individuals who demonstrate proficiency in research...
• Associate in Surplus Lines Insurance (ASLI)A professional designation awarded by The Institutes to individuals specializing in the unique market of...
• Associate in Underwriting (AU)A professional designation for individuals working in insurance underwriting, indicating a specialized...
• Associated General Contractors of America (AGC)A national trade association in the United States representing all facets of the commercial construction...
• Associateship of the Chartered Insurance Institute (ACII)A professional designation awarded by the Chartered Insurance Institute (CII) in the United Kingdom to...
• Association captiveA captive insurance company owned by a trade or professional association, formed to provide insurance...
• Association groupA collection of individuals or entities that share a common interest or affiliation and are eligible to...
• Association professional liability insurance (APLI)Coverage for a professional or trade association, its directors, officers, employees, and volunteers against...
• Associational discriminationUnlawful discrimination against an individual based on their association with another person who is a member...
• AssumeTo accept risk or liability from another party, thereby taking on the financial responsibility for potential...
• Assumed premiumsThe total amount of premiums that a reinsurer receives for the risks it accepts from ceding insurers. These...
• Assumed reinsuranceReinsurance business accepted by a reinsurer from a primary insurer, where the reinsurer takes on a portion...
• Assumed riskA risk that an insurer or reinsurer agrees to cover under a policy or reinsurance treaty. This represents the...
• AssumptionThe act of accepting risk and the financial obligation for potential losses, or the specific risk that has...
• Assumption of liability agreementAn agreement between a reinsurer and the policy-issuing company, made for the benefit of the insureds, under...
• Assumption of riskA legal defense in tort law where a plaintiff is barred from recovery for injuries if they voluntarily and...
• Assumption of risk doctrineA legal principle that prevents a plaintiff from recovering damages for injuries sustained if they willingly...
• AssuranceA type of insurance coverage that provides a payment upon the occurrence of a specified event that is certain...
• AssuredThe individual or entity whose life or property is covered by an insurance policy, and who is entitled to...
• AssurerThe party, typically an insurance company, that provides the insurance coverage and undertakes the financial...
• Attachment basisThe rule that determines which losses a reinsurance contract or policy responds to, in terms of timing. The...
• Attachment pointThe specific dollar amount or threshold at which an excess-of-loss insurance or reinsurance policy begins to...
• Attained ageThe current age of an insured individual at a specific point in time, typically used for calculating premiums...
• Attorney work productMaterials prepared by an attorney or their agents in anticipation of litigation, which are generally...
• Attorney-client communicationConfidential discussions and information exchanged between a client and their attorney for the purpose of...
• Attractive nuisance doctrineA legal principle that holds landowners liable for injuries to trespassing children caused by dangerous...
• Auction rate security (ARS)A debt instrument with a long-term maturity but whose interest rate is reset periodically through a Dutch...
• AuditA systematic examination of records, accounts, or operations to verify their accuracy, compliance with...
• Authorized nonadmitted reinsurerA reinsurance company that is not licensed in the ceding insurer's state but is permitted to accept...
• AutoA common abbreviation for automobile insurance, which provides financial protection against physical damage...
• Auto coverage symbolsNumerical codes used on commercial auto insurance policies to designate the types of vehicles covered for...
• Automatic additional insured endorsementA provision in a liability insurance policy that automatically extends coverage to other parties as...
• Automatic insuredsIndividuals or entities that are granted insured status under an insurance policy without being specifically...
• Automatic premium loanA policy provision in a whole life insurance contract that allows the insurer to automatically pay an overdue...
• Automatic treatyA reinsurance agreement under which the ceding insurer is obligated to offer, and the reinsurer is obligated...
• Automobile Claim Law Associate (ACLA)A designation awarded by the American Educational Institute to claims professionals who complete its program...
• Automobile Claim Law Specialist (ACLS)A higher-level professional designation for individuals with advanced knowledge and experience in automobile...
• Automobile liability excess indemnityInsurance coverage that provides additional protection above the limits of a primary automobile liability...
• Automobile liability insuranceInsurance that protects the policyholder against financial loss if they are found legally responsible for...
• Automobile physical damage insuranceCoverage that protects an insured's vehicle against direct and accidental loss or damage, distinct from...
• Autonomous vehicle (AV)A vehicle capable of sensing its environment and operating without human input, using technologies such as...
• Available dataWhen a community has Zone A areas without elevation and/or floodway data, the community shall obtain, review...
• Average length of stayThe mean number of days that patients remain hospitalized or reside in a healthcare facility for a particular...
• Average rateThe calculated mean of premium charges across a group of insureds or a portfolio of policies over a specific...
• Average severityA measure of the average financial cost of a single paid claim, used by insurers to analyze loss trends and...
• Average weekly wage (AWW)A figure used in workers' compensation to set weekly wage-loss benefits, based on the injured worker's...
• Aviation accident insuranceA specialized form of personal accident insurance that provides coverage for death or injury sustained as a...
• Aviation hazardA risk factor or condition associated with air travel or aircraft operation that increases the likelihood of...
• AvoidanceA risk management technique that involves eliminating the possibility of loss by choosing not to engage in an...

257 of 3,682 terms in Insurance and risk management terminology (MLC-0106). Request the full dataset.