0000001682 00000 n Insurable Interest – interest in property such that loss or destruction of the property could cause a … 0000001556 00000 n ��T���-:�f66�� ����FJ ��s�� ���`% �0 Insurance Product Information Documents Insurance Product Information Documents. 0000010682 00000 n Maturity age: Maturity age is the age of the life assured at which the policy ends or terminates. 0000022051 00000 n 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. External factors that make the risk greater than normal e.g. endstream endobj 118 0 obj<> endobj 120 0 obj<> endobj 121 0 obj<>/Font<>/XObject<>/ProcSet[/PDF/Text/ImageC/ImageI]/ExtGState<>>> endobj 122 0 obj<> endobj 123 0 obj<> endobj 124 0 obj<> endobj 125 0 obj[/Indexed 126 0 R 254 140 0 R] endobj 126 0 obj[/ICCBased 136 0 R] endobj 127 0 obj<> endobj 128 0 obj<> endobj 129 0 obj<>stream Click on the "Check Answers" button at the bottom of the quiz to check your answers. =Oo�������Uf�2C���❉�KO��~������. Additionally, this informational sheet is not intended to fully set out your rights and obligations or the rights and obligations of the insurance company. 0000001302 00000 n Insurance professionals with whom you may come into contact should be prepared to explain these terms. trailer This is very much a 'work in progress', and we welcome any corrections, ... Actual loss an insurance term which means that the insured item no longer exists. More Insurance Terms And Definitions. So, we need a safety cover to protect ourselves and our family from the many unforeseen perils and risks. %PDF-1.4 %���� 0000063971 00000 n 0000046794 00000 n Please note: our terms and conditions are in PDF format. These include: (1) the right to cash in the policy; (2) to receive a loan on the cash value of the policy; and (3) to change the beneficiary. 0000040785 00000 n Insurance Terms And Terminology Uncertainties are a part of life. Glossary of Health Coverage and Medical Terms Page 1 of 4 Glossary of Health Coverage and Medical Terms • This glossary has many commonly used terms, but isn’t a full list.These glossary terms and definitionsare intended to be educational and may be different from the terms and definitions in your plan. 0000027043 00000 n If you have any questions about these phrases or the wording of your policy contact us to speak to a specialist adviser. 0000016351 00000 n This … 5 General Insurance Terms of Business Agreement e) Non-advised service renewal If your policy is due for renewal, we will write to you with details relating to the renewal of your insurance policy (provided that your insurer is willing to offer to you a policy for the new policy period) and to confirm the premium and terms applicable. The Insurance Vocabulary List Accident insurance – covers the medical expenses as the result of a bodily injury or death. 119 0 obj<>stream 3�g�(%R�"�!�?&��aR`aHB)e"@H\ƸN!�ͮ��(\7�?f�f��,c@! Revised: October 23, 2006 A Absolute Liability: Liability arising from extremely dangerous operations; for example, blasting. Insurance bureau of canada are indicated with an asterisk. Facts, which show that a risk represents a greater exposure than would be expected from its nature e.g., the fact that a part of the building is being used for storage of inflammable materials. 0000033588 00000 n GLOSSARY OF INSURANCE TERMS THE A-Z FOR INSURANCE PRACTITIONERS Terms generally associated with reinsurance Ab initio A term used to describe avoidance of a contract from its inception or its beginning. When reading the definitions, please keep in mind that this glossary is provided as a guide only curated from various sources. 117 26 GLOSSARY OF REINSURANCE TERMINOLOGY Term Definition Accident Year Experience Reinsurance experience calculated by matching the total value of all losses occurring during a 12-month period with premiums earned for the same period. 0000017610 00000 n 0000000816 00000 n 3-year accounting :-a form of funded accounting. GLOSSARY OF TERMS - GENERAL INSURANCE Prepared by David Forfar, MA, FFA with the assistance of David Raymont, Librarian of Institute of Actuaries, London. 0000007797 00000 n H�|V�n�6��+�(6#R%�. Terms is just one of the achievements of EBS’s partnership with NALA. An independent agent represents more than one company; a captive agent represents only one company. 0000037034 00000 n 0000039016 00000 n xref B@�\\T!T���P�B�������H� J1)Ü���A���l&շ@Z�%�"*���>�%�*�*0``�a�a��^`������)%/�8R��|;� �&��Ӂ� � �+�= Insurance coverages. GLOSSARY OF RISK MANAGEMENT TERMS This is a comprehensive list of insurance terms. startxref 0000004228 00000 n A glossary of auto insurance terms can really help you understand your policy as you deal with a claim. Abscess: Acute or chronic. In this life insurance glossary, we have defined many of these terms used throughout this website and, perhaps in your policy). A . insurance broker: n. agent who arranges insurance; middleman between insurer and policyholder: Good insurance brokers find the best deals for their clients, and bad ones find the highest commissions. 48 0 obj <>stream 13 36 0000019211 00000 n Please refer to your policy or certificate of insurance for exact definitions of terms and coverage provisions.

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