Contact nse insurance agencies, inc today to learn more. Cessions limit the capped amount of catastropheexposed business ceded to the reinsurance contract. If you have any questions about these phrases or the wording of your policy contact us to speak to a specialist adviser. This page provides a glossary of insurance terms and definitions that are commonly used in the insurance business. Glossary of terms while there are many job descriptions on a film or television set, these are the people you might come into contact with. Guidelines for protected area management categories available as pdffile. Glossary of reinsurance terminology term definition accident year experience reinsurance experience calculated by matching the total value of all losses occurring during a 12month period with premiums earned for the same period. Glossary of risk management terms this is a comprehensive. If you continue, well assume you are happy for your web browser to receive all cookies from our website. These glossary terms and definitionsare intended to be educational and may be different from the terms and definitions in your plan or health insurance policy. Replacement cost of damaged or lost property less depreciation. Insurance glossary content has been provided by insurance information institute. Patient financial services university of iowa hospitals and. Glossary of risk management terms this is a comprehensive list of insurance terms.
Glossary of health coverage and medical terms this glossary defines many commonly used terms, butisnt a full list. Injury to the body of a person as defined in coverage documents. Group insurance coverage through an employer or other entity that covers all individuals in the group. You can find more terms in the the insurance bureau of canadas glossary actual cash value acv. Insurance glossary insurance terms and definitions from nse insurance agencies, inc. Definitions of political risk terms vary among political risk providers. Glossary of insurance terms actuary a professional trained in the mathematics of insurance and risk management, including the calculations of premiums, policy reserves and other values. These glossary definitions provide a brief description of the terms and phrases used within the insurance industry. The insurance contracts act allows an insurer to avoid a policy ab initio in situations where an insured fraudulently non. Not sure what a word on your insurance policy means.
Brush up your insurance knowledge with this glossary of common insurance terms by personal express. Glossary of title insurance terms abstract of title the condensed history of the title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property and a certification by the abstractor that the history is complete. A form of corporation, allowed by the irs for most companies with 35 or fewer shareholders, which enables the company to enjoy the benefits of incorporation but be taxed as if. In return, the provider agrees to deliver the health services agreed upon to any covered person. If available, some optional coverages and benefits might be offered at an additional charge. Some of these terms also might not have exactly the same meaning. At short insurance, were here to help you understand the world of insurance. Compilation of forestry terms and definitions european forest. It is not meant to be all inclusive or provide legally binding definitions. Texas department of insurance glossary of common insurance terms. Insurance glossary understanding common insurance terms.
Our insurance terms glossary is divided alphabetically by insurance terms in a quick reference guide to assist understanding the language commonly used by insurance companies. This glossary has many commonly used terms, but isnt a full list. Glossary of healthcare terms health insurance and reform accountable care organization aco. If youre looking for a free download links of glossary of insurance terms pdf, epub, docx and torrent then this site is not for you. National insurance crime bureau october 12, 2015 1 nicb insurance acronym, organization and term list the following is a list of insurance related acronyms, organizations, and terms that may be encountered during an investigation. The definitions in this glossary are developed by the naic research and actuarial department staff based on various insurance references. Office, and adobe indesign are also capable of creating tagged pdf files. Acquisition costs all expenses directly related to acquiring insurance or reinsurance. Some of these terms also might not have exactly the same meaning when used in your policy or plan, and in any such case, the policy or plan governs. Contact isu northwest insurance services today to learn more.
Agent the insurance company representative who sells policies on behalf of the insurer. Not all concepts or coverages identified in this list are found at chapman university. A receipt given for a premium payment accompanying the application for insurance. If you have any questions about the use or meaning of a term or expression in any particular product or literature, you should raise them with the provider concerned. Because, however, pdf accessibility can be a confusing topic, it seems like a good. From accidental damage to vacant possession, insurance terms can be confusing. Glossary of insurance terms this list is not meant to be all inclusive, but should help with your understanding some insurance terms used in our website. Health insurance financial protection against all or part of the medical care costs to treat illness or injury. It is the highest rated bond that gives maximum returns at the time of maturity. This glossary is intended as a general aid to help you understand some of the commonly occurring phrases and jargon used in the insurance world. 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 isnt a full list. Take a look at our glossary below or call us at 8067634409 with any questions you may have. For full details concerning your actual policy, please refer to your official policy for full coverage details or call your agent.
Those can be found in your insurance policy or certificate. Dental glossary capitation a rate paid, usually monthly, to a health care provider. This document is for informational purposes only and is not intended to alter or replace the insurance policy. Glossary of health insurance terms december 12, 2008 broker a salesperson who has obtained a state license to sell and service con tracts of multiple health plans or insurers, and who is considered to be an agent of.
If the policy is approved, this binds the company to make the policy effective from the date of the receipt. Cobra legislation providing for a continuation of group health care benefits under the group plan for a period of time when benefits would otherwise terminate. Some of these terms also might not have exactly the same meaning when. Glossary of health coverage and medical terms this glossary has many commonly used terms, but isnt a full list. Protects against physical damage to buildings, contents, stock, and equipment.
Glossary of terms links to external websites are provided solely for the users convenience. Bold text indicates a term defined in this glossary. Insurance terminology north american training group. This page provides a glossary of insurance terms and definitions that are. These general definitions are provided for educational purposes. Usually the grade aaa is given to the best debt obligation or. Banking terms that begin with a banking terms banking definitions aaa aaa is a term or a grade that is used to rate a particular bond.
Insurance glossary insurance terms and definitions from isu northwest insurance services. Term definition cession the amount of insurance risk transferred to a reinsurer by a ceding company. Nicb insurance acronym, organization and term list index. Glossary of insurance terms the az 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. Carries out the directors instructions and runs the set. A binder is subject to the premium and all the terms of the policy to be issued. Glossary of health insurance and medical terms this glossary has many commonly used terms, but it isnt a full list. A group of health care providers who give coordinated care, chronic disease management, and thereby improve the quality of patient care.
Policy documents contain a number of insurance terms because they typically define the limitations of risk and liability on the insured and any exclusions of coverage. Glossary of terms used in the political risk insurance. These definitions are not applicable in all states or for all insurance and financial products. These definitions are simply a description of industry terms and are not applicable in all locations or instances. Consumer glossary national association of insurance.
Words associated with surety and bonds and title insurance are listed separately at the end of this list. These glossary terms and definitionsare intended to be educational and may be different from the terms and definitions in your plan. The terms and conditions of coverage are determined by the limit of insurance chosen by the policyholder. Best company was founded in 1899 and is a credit rating organization that serves the insurance industry. Bests ratings to assess the financial strength of insurance companies. Our glossary will help you to understand some of the jargon so you can know more about the policies we offer. Use our online glossary to help you look up any terms you may not understand when using our website we use cookies to give you the best possible online experience. This glossary defines many commonly used terms, but isnt a full list.
Please refer to your policy or certificate of insurance for exact definitions of terms and coverage provisions. These glossary terms and definitions are intended to be educational and may be different from the terms and definitions in your plan. When reading the definitions, please keep in mind that this glossary is provided as a guide only curated from various sources. Actuary a professional trained in the mathematics of insurance and risk management, including the calculations of. Glossary of healthcare terms health insurance and reform. This is a short list of key insurance terms, listed in alphabetical order. For more information on each providers definition of terms, consult the providers. Patient financial services glossary of insurance terms created. Insurance glossary i isu northwest insurance services. Some of these terms also might not have exactly the. Liability arising from extremely dangerous operations.
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