aa.co.nz

Website:https://www.aa.co.nz/
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Definitions (19)

1

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TERM


Meaning
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accident


An event causing injury to an insured person and was not intended by them to happen
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Actuary


Someone with professional training in mathematical and technical aspects of insurance, especially calculating premiums
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Broker / adviser


Someone who specialises in insurance. They may have arrangements with more than one insurer so they can place their client's business where it best suits the client
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claim


A request for payment according to the policy terms made by the policy owner to the insurer
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Cover


The amount of protection an insurance policy provides
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Exclusion


A provision in a policy that excludes cover for certain events or conditions, E.g. dangerous pastimes or pre-existing conditions for life insurance
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Insured


Someone covered by an insurance policy
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Memorandum of transfer


The document that records a change of ownership on a policy
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Policy owner


The person who owns the policy - this can be the person who is insured, or someone else. The policy owner is able to request changes to their policy
Source: aa.co.nz


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