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Definitions (163)
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PREMIUM
The price of the insurance policy that the insured pays in exchange for insurance coverage.
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Actuary
An insurance professional who analyzes, evaluates, and manages statistical information. Evaluates insurance firms' reserves, determines rates and rating methods, and determines other business and [..]
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adjuster
A staff adjuster is an individual employed by a property/casualty insurer to evaluate losses and settle policyholder claims. These adjusters differ from public adjusters, who negotiate with insurers o [..]
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Assets
Property owned, in this case by an insurance company, including stocks, bonds, and real estate. Insurance accounting is concerned with solvency and the insurer’s ability to pay claims. State insurance [..]
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annual statement
Summary of an insurer's or reinsurer's financial operations for a particular year, including a balance sheet and income statement. It is filed with the state insurance department of each jur [..]
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Anti-theft device
A device that deters auto theft. Autos equipped with these devices may entitle you to a discount on your insurance premiums.
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APPRAISAL
Process used to determine the value of property, or the extent of damage to a property, usually performed by an  expert.
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arbitration
A process of settling a dispute through an impartial party. It is used as an alternative to litigation.
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assigned risk
A market used to provide insurance to customers who cannot qualify for insurance in the regular market. Such customers must get coverage through a state assigned risk plan, which specifies that each c [..]
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Auto insurance
Auto Insurance provides protection from losses resulting from owning and operating an auto. The insurance covers losses to the insured's property and losses for which the insured is liable as a r [..]
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