Actual Cash Value (ACV)

The person who handles the settlement of claims on behalf of an insurance company, either as an employee of the company or an independent engaged by contract. Also called a claims representative.

The representative of an insurance company responsible for selling and servicing policies. Can be an employee representing only one company (sometimes called a "captive agent" or a & [..]

A person who signs and submits a written application for insurance coverage.

The willful, unlawful burning of property. If it is proved the policyholder was responsible for the arson, the insurance company will not pay for the loss.

Contractual protection against losses resulting from the ownership and use of an automobile. Coverages common in auto policies include FIRE, THEFT, COMPREHENSIVE, COLLISION, PROPERTY DAMAGE and BODILY [..]

The money to be paid by an insurance company under the terms of the insurance policy. Beneficiary The person(s) named in the policy to receive the life insurance proceeds upon the death of the insured [..]

A legal agreement between an insurance buyer and an insurance company or its agent. it provides temporary insurance coverage until a policy is either issued or refused. Blanket Policy A policy that co [..]

Injury to the body of a person as specifically defined in an insurance policy. Bodily injury liability is the legal responsibility for medical and related cost that may result from injury to the life [..]

The termination of an insurance policy either by the insured party or the insurance company, before its normal expiration date. A cancelable policy includes a provisions the the contract can be termin [..]