Risk and Insurance Acronyms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

AAA-American Academy of Actuaries; American Arbitration Association

AACI-American Association of Crops Insurers

AADC-American Association of Dental Consultants

AAI-Accredited Adviser in Insurance; Alliance of American Insurers

AAIMC-American Association of Insurance Management Consultants

AAIS-American Association of Insurance Services

AALU-Association for Advanced Life Underwriting

AAM-Associate in Automation Management

AAMGA-American Association of Managing General Agents

AAPL-American Association of Petroleum Landmen

ABA-American Bar Association, American Bankers Association

ABIH-American Board of Industrial Hygienists

ABS-American Bureau of Shipping

ACAS-Associate of the Casualty Actuarial Society

ACC-anti-concurrent cause provision

ACCI-American Corporate Counsel Institute

ACEC-American Consulting Engineers Council

ACII-Associateship of the Chartered Insurance Institute (British)

ACLI-American Council of Life Insurers

ACLU-American College of Life Underwriters

ACM-asbestos containing materials

ACORD-Association for Cooperative Operations Research and Development

ACSC-Association of Casualty & Surety Companies

ACV-actual cash value

ACWRRE-American Cargo War Risk Reinsurance Exchange

ADA-Americans With Disabilities Act

ADB-accidental death benefit

AD&D-accidental death and dismemberment

ADEA-Age Discrimination in Employment Act

ADR-alternative dispute resolution; American depository receipt

A/E-architect/engineer

AEIA-American Excess Insurance Association

AFIA-American Foreign Insurance Association

AFSB-Associate in Fidelity and Surety Bonding

AGC-Associated General Contractors of America

A&H-accident and health (insurance)

AHERA-Asbestos Hazard Emergency Response Act

AHIS-American Hull Insurance Syndicate

AI-additional insured

AIA-American Institute of Architects; American Insurance Association

AIAF-Associate in Insurance Accounting and Finance

AIC-Associate in Claims

AICPA-American Institute of Certified Public Accountants

AICPCU-American Institute for Chartered Property Casualty Underwriters (formerly AIPLU)

AIDS-Acquired Immune Deficiency Syndrome

AIHA-American Industrial Hygiene Association

AIM-Associate in Management

AIMA-as interest may appear

AIME-average indexed monthly earnings

AIMU-American Institute of Marine Underwriters

AIP-annual implementation plan

AIPLU-American Institute for Property and Liability Underwriters (see AICPCU)

AIPSO-Automobile Insurance Plans Service Office

AIRAC-All-Industry Research Advisory Council

AIRB-Aviation Insurance Rating Bureau

AIS-Associate in Insurance Services

AISG-American Insurance Services Group, Inc.

AIT-Associate in Information Technology

AL-automobile liability

ALAE-allocated loss adjustment expense

ALC-American Life Convention

ALCM-Associate in Loss Control Management

ALE-additional living expense (coverage); assumption of liability endorsement

ALIMDA-Association of Life Insurance Medical Directors of America

ALM-Association of Lloyd's Members

ALOP-advance loss of profit insurance

ALOS-average length of stay

AMA-American Medical Association

AMBAC-American Municipal Bond Assurance Corp.

AMEMIC-Association of Mill & Elevator Mutual Insurance Companies

AMIC-American Marine Insurance Clearinghouse

AMIF-American Marine Insurance Forum

AMIM-Associate in Marine Insurance Management

AMT-alternative minimum tax

AMW-average monthly wage

ANI-American Nuclear Insurers

ANL-above normal loss

ANSI-American National Standards Institute

AOP-all other perils

AP-additional premium

APA-Associate in Premium Auditing

API-American Petroleum Institute; Associate in Personal Insurance

APIW-Association of Professional Insurance Women

AR-all risk; accounts receivable; assigned risk

ARe-Associate in Reinsurance

ARIA-American Risk and Insurance Association

ARM-Associate in Risk Management

ARM–P-Associate in Risk Management for Public Entities

ARO-asset retirement obligation

ARP-Associate in Research and Planning

ART-alternative risk transfer; annual renewable term (life insurance)

ASA-administrative services arrangement; Associate in Society of Actuaries

ASC-Associated Specialty Contractors

ASCLU-American Society of Chartered Life Underwriters

ASHRM-American Society for Healthcare Risk Management

ASIM-American Society of Insurance Management

ASIS-American Society of Industrial Security

ASLI-Associate in Surplus Lines Insurance

ASM-available seat miles

ASME-American Society of Mechanical Engineers

ASO-administrative services only

ASOP-Actuarial Statement of Practice

ASPA-American Society of Pension Actuaries

ASSE-American Society of Safety Engineers

ASTD-American Society of Training and Development

ATA-American Trucking Associations, Inc.

ATLA-Association of Trial Lawyers of America

ATM-automated teller machine

ATRA-American Tort Reform Association

AU-Associate in Underwriting

AWW-average weekly wage

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

B

BACM-best available control measures

BAP-business auto policy

BBB-banker's blanket bond

B&C-building and contents

BCAR-Best’s Capital Adequacy Ratio

BCBSA-Blue Cross and Blue Shield Association

BCE-Bermuda Commodities Exchange

BCEGS-building codes effectiveness grading schedule

BCM-business continuity management

BDAT-best demonstrated available technology

BERP-basic extended reporting period

BFCGL-broad form comprehensive general liability (endorsement)

BFPD-broad form property damage (endorsement)

BI-bodily injury; business interruption

BIC-business income coverage

BIM-Building Information Modeling

BM, B&M-boiler and machinery (forms)

BOP-businessowners policy

BOW-breach of warranty

BPB-blanket position bond

BPF-basic premium factor

BPL-bankers professional liability insurance

BPT-branch profits tax

BR-builders risk

BRAC-Base Realignment and Closure Act

BTR-below-target risk

BV-brick veneer (construction)

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

C

CAA-Clean Air Act

CAC-combined additional coverage

CAGR-compounded annual growth rate

CAI-computer assisted instruction

CAL-comprehensive automobile liability

C and F-cost and freight

CAN-SPAM-The Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003

CAPM-Capital Asset Pricing Model

CAPP-Conference of Actuaries in Public Practice

CAR-contractors all risk (insurance)

CARE-Concerned Alliance of Responsible Employers

CARFM-Coalition of Alternative Risk Funding Mechanisms

CARFRA-Coordinated Advertising, Rate and Form Review Authority

CAS-Casualty Actuarial Society

CAT-catastrophe

CBE-computer based education

CBMU-Canadian Board of Marine Underwriters

CBOT-Chicago Board of Trade

CBRA-Coastal Barrier Resources Act

CBRN-chemical, biological, radiological, nuclear weapon

CBRS-Coastal Barrier Resources System

CCC-care, custody, or control (exclusion)

CCIA-Consumer Credit Insurance Association

CCIP-contractor controlled insurance program

CC&R-covenants, conditions, and restrictions

CD-certificate of deposit

CDW-collision damage waiver

CEB-Council of Employer Benefits

CEBS-Certified Employee Benefits Specialist

CEN-confiscation, expropriation, nationalization (insurance)

CEND-confiscation, expropriation, nationalization, and deprivation (insurance)

CEO-chief executive officer

CEPT-credit equivalent bypass trust

CERCLA-Comprehensive Environmental Response Compensation and Liability Act

C&F-cost and freight

CF-contract frustration

CFA-Chartered Financial Analyst

CFC-Chartered Financial Consultant; controlled foreign corporation

CFMA-Construction Financial Management Association

CFO-chief financial officer

CFP-Certified Financial Planner; coordinated financial planning

CFROI-cash flow return on investments

CFTC-Commodities and Futures Trading Commission

CFU-customary freight unit

CGL-commercial general liability; formerly comprehensive general liability

CHCM-Certified Hazard Control Manager

CHIAA-Crop-Hail Insurance Actuarial Association

CIAA-Canadian Independent Adjusters Association

CIAB-The Council of Insurance Agents and Brokers

CIC-Certified Insurance Counselor

CICA-Captive Insurance Companies Association, Inc.

CIF-cost, insurance, and freight

CIH-Certified Industrial Hygienist; Compensated Intercorporate Hauling

CII-Chartered Insurance Institute

CIP-consolidated insurance program; controlled insurance program

CIRB-Crop Insurance Research Bureau

CISR-Certified Insurance Service Representative

CIT-critical incident technique

CLHIA-Canadian Life & Health Insurance Association

CLIEDIS-Canadian Life Insurance EDI Standards Association

CLM-Commercial Lines Manual

CLU-Chartered Life Underwriter

CM-construction management

CMP-commercial multiple peril

CMT-crisis management team

CNHI-Committee for National Health Insurance

CNP-cotton named perils (insurance)

C/O-completed operations

COAA-Construction Owners Association of America

COB-coordination of benefits

COBRA-Consolidated Omnibus Budget Reconciliation Act

COC-course of construction

CO-CIP-cooperative controlled insurance program

COGSA-Carriage of Goods by Sea Act

COGWA-Carriage of Goods by Water Act

COIL-Conference of Insurance Legislators

COLA-Cost of Living Adjustment

COO-chief operating officer

COP-commercial output policy

COPPA-Children's Online Privacy Protection Act

COPE-construction, occupancy, protection, exposure

COR-cost of risk

COSO-Committee on Sponsoring Organizations

CP-commercial property (forms)

CPA-Certified Public Accountant

CPCU-Chartered Property Casualty Underwriter

CPE-Certified Professional Engineer

CPI-Consumer Price Index

CPIW-Certified Professional Insurance Woman

CPL-comprehensive personal liability (insurance); contractors pollution liability (insurance)

CPM-critical path method

CPP-Certified Protection Professional; commercial property program

CPPA-Cable Communications Policy Act

CPSA-Consumer Product Safety Act

CPSC-Consumer Product Safety Commission

CPSM-Certified Product Safety Manager

CPU-central processing unit

CQE-Certified Quality Engineer

CR-commercial crime (forms)

CRA-Cargo Reinsurance Association

CRE-certified reliability engineer

CRM-Canadian Risk Management (program); Certified Risk Manager

CRO-chief risk officer

CRIS-Construction Risk and Insurance Specialist

CRS-Commercial Risk Services (ISO); community rating system

CSL-combined single limit

CSO-claim services only

CSO Table-Commissioners Standard Ordinary Table

CSP-Certified Safety Professional; commercial statistical plan

CSR-customer service representative

CTD-cumulative trauma disorder

CTG-control technique guidelines

CURT-Construction Users Roundtable

CV-cash value (life insurance); coefficient of variation

CVA-captive value added

CVIF-compound value interest factor

CWA-Clean Water Act

CWR-countrywide rate pages

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

D

DAC-deferred acquisition cost

DAP-deposit administration plan

D&B-Dun & Bradstreet

DB-decibel

d/b/a-doing business as

DB&C-dwelling, building and contents

DBIA-Design-Build Institute of America

DCC-domestic cell captive

DCF-discounted cash flow (techniques)

DDD-dishonesty, disappearance, and destruction

DDP-distributed data processing

DEC-declarations page

DED-deductible

DEFS-direct-applied exterior finish system

DEP-direct earned premium

DFA-Dynamic Financial Analysis risk model

DFIRM-Digital Flood Insurance Rate Map

DI-disability income; double indemnity

DIC-difference-in-conditions (insurance)

DIL-difference-in-limits (clause)

DITC-Disability Insurance Training Council

DJIA-Dow Jones Industrial Average

DMIC-Direct Marketing Insurance Council

DNI-distributable net income

D&O-directors and officers (liability insurance)

DOB-date of birth

DOC-drive other car coverage

DOD-date of death

DOHSA-Death on the High Seas Act

DOL-Department of Labor

DOT-Department of Transportation

DPP-deferred premium payment plan

DPPA-Driver's Privacy Protection Act

DQO-data quality objective

DR-daily report

DRE-destruction and removal efficiency

DRG-Diagnostic Related Group

DRI-Defense Research Institute

DSU-delay in start-up insurance

DTI-Department of Trade and Industry (London)

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

E

EA-Enrolled Actuary

EAB-experience account balance

EAP-employee assistance program; estimated annual premium

EAR-erection all risk (insurance)

EBIDDA-earnings before interest, dividends, depreciation, and amortization

EBRI-Employee Benefit Research Institute

EC-extended coverage (endorsement)

ECC-Eastern Claims Conference

ECF-extended care facility

ECFC-Employers Council on Flexible Compensation

ECI-export credit insurance

ECO-extracontractual obligations

ECOR-economic cost of ruin

ECP-exempt commercial policyholder

ECPA-Electronic Communications Privacy Act

EDD-enforcement decision document

EDI-export development corporation

EDP-electronic data processing; extended discovery period/provision

EEL-emergency exposure limits

EEOC-Equal Employment Opportunity Commission

EFT-electronic funds transfer

EH&S-environmental health and safety

EIFS-exterior insulation and finish systems

EIL-environmental impairment liability

EIS-environmental impact statement

EJCDC-Engineering Joint Contracts Documents Committee

EL-employers liability; expected loss

ELL-educators legal liability (insurance)

ELP-excess loss premium (factor)

ELR-expected loss rate

EMAP-Environmental Monitoring and Assistance Program

EMT-emergency medical technician

ENCP-ERISA Non-Compliance Program

E&O-errors and omissions (liability insurance)

EP-earned premium

EPA-Environmental Protection Agency

EPD-expected policyholder deficit

EPL-employment practices liability

EPLI-employment practices liability insurance

EPS-earnings per share

ERD-expected reinsurer deficit

ERIC-ERISA Industry Committee

ERISA-Employee Retirement Income Security Act

ERM-enterprise risk management

ERP-extended reporting period

ERPL-employment-related practices liability (policy)

ERSC-Environmental Response Services Contractor

E&S-excess and surplus (lines)

ESA-employee spending account; environmental site assessment

ESH-environmental safety and health

ESOP-employee stock ownership plan

ESOT-employee stock ownership trust

ETB-engaged in trade or business

EVA-economic value added

EXIMBANK-Export-Import Bank of the United States

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

F

FAA-Federal Aviation Administration

FAC-facultative reinsurance

FAIR-Fair Access to Insurance Requirements

FALU-Fellow of the Academy of Life Underwriting

FAP-family automobile policy (more commonly PAP)

FAR-Federal Aviation Regulations

FAS-free along side (ocean marine cargo)

FASB-Financial Accounting Standards Board

F&C-fire and casualty

FCAS-Fellow of the Casualty Actuarial Society

FCC-Federal Communications Commission

FCE-functional capacity evaluation

FCIC-Federal Crop Insurance Corporation

FCII-Fellowship of the Chartered Insurance Institute (British)

FCMH&SA-Federal Coal Mine Health & Safety Act

FCPL-farmers comprehensive personal liability

FCRA-Fair Credit Reporting Act

FC&S-free of capture and seizure (warranty)

FDA-Food and Drug Administration

FDI-foreign direct investment

FDIC-Federal Deposit Insurance Corporation

FDPA-Flood Disaster Protection Act

FECA-Federal Employees Compensation Act

FEGLI-Federal Employees Group Life Insurance

FELA-Federal Employers Liability Act

FEMA-Federal Emergency Management Agency

FERMA-Federation of European Risk Management Associations

FET-federal excise tax

FHBM-flood hazard boundary map

FHWA-Federal Highway Administration

FIA-Federal Insurance Administration; Fellow of the Institute of Actuaries; full interest admitted

FIC-Fraternal Insurance Counselor

FICA-Federal Insurance Contribution Act

FICC-Federation of Insurance and Corporate Counsel

FIFO-first in, first out

FIIC-Fellow of the Insurance Institute of Canada

FIRM-flood insurance rate map

FIRREA-Financial Institutions Reform Recovery and Enforcement Act

FLMI-Fellow of the Life Management Institute

FLSA-Fair Labor Standards Act

FM-factory mutual

FMCSA-Federal Motor Carrier Safety Administration

FMCSR-Federal Motor Carrier Safety Regulations

FMLA-Family and Medical Leave Act of 1993

FMV-fair market value

FNMA-Federal National Mortgage Association

FOB-free on board

FOC-Fire Office Committee Forms

FPA-free of particular average

FPAAC-free of particular average (American conditions)

FPAEC-free of particular average (English conditions)

FPEB-Fire Prevention and Engineering Bureau

FR-farm and ranch (forms); fire resistive

FRM-Fellow in Risk Management

FRV-fair rental value coverage

FSA-Fellow of the Society of Actuaries; flexible spending account; field service advice

FSLIC-Federal Savings and Loan Insurance Corporation

FT-financial transformation

FTC-Federal Trade Commission

FTCAC-fire, theft, and combined additional coverage

FVD-full value declared

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

G

GA-general agent

GAAP-Generally Accepted Accounting Principles

GAAS-Generally Accepted Auditing Standards

GAB-General Adjustment Bureau

GAMA-General Agents and Managers Association

GAMC-General Agents and Managers Conference

GAO-Government Accountability Office

GAP-guaranteed auto protection

GASB-Governmental Accounting Standards Board

GC-guaranteed cost

GCCI-Guy Carpenter Catastrophe Index

GCD-guaranteed cost discount

GCW-gross combination weight

GFCI-ground fault circuit interrupter

GHAA-Group Health Association of America

GIC-guaranteed investment contract

GIO-guaranteed insurability option

GKLL-garagekeepers legal liability (insurance)

GL-general liability

GLB-Gramm-Leach-Bliley Act

GNEPI-gross/net earned premium income

GNMA-Government National Mortgage Association

GNPI-gross/net premium income

GNWPI-gross/net written premium income

GPO-Government Printing Office; guaranteed purchase option

GULP-Group Universal Life Program

GVW-gross vehicle weight

GWP-gross written premium

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

H

HB-House Bill

HCQIA-Health Care Quality Improvement Act

HFIE-Huebner Foundation for Insurance Education

HI-health insurance

HIAA-Health Insurance Association of America

HII-Health Insurance Institute

HIPAA-Health Insurance Portability and Accountability Act

HLDI-Highway Loss Data Institute

HLV-human life value

HMO-health maintenance organization

HO-homeowners (insurance)

HOLUA-Home Office Life Underwriters Association

HPL-hospital professional liability (insurance)

HPR-highly protected risk (property)

HRS-hazardous ranking system

HSA-health system agency

HSP-Healthcare Safety Professional

HT-heavy timber (construction)

HVAC-heating, ventilating, and air conditioning

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

I

IAC-Industrial Accident Commission; independent agency captive

IAHU-International Association of Health Underwriters

IAOC-Insurers' Advisory Organization of Canada

IASA-Insurance Accounting and Systems Association, Inc.

IBC-Insurance Bureau of Canada

IBNE-incurred but not enough

IBNR-incurred but not reported (losses)

ICA-International Claim Association; Insurance Consortium of America

ICAC-Insurance Committee for Arson Control

ICC-increased cost of compliance; Interstate Commerce Commission (now defunct); institute cargo clauses

ICEDS-Insurance Company Education Directors Society

ICIA-International Credit Insurance Association

ICJ-Institute for Civil Justice

ICP-insurance conference planners

ICPA-Insurance Conference Planners Association

ICPI-Insurance Crime Prevention Institute

ICSID-International Center for the Settlement of Investment Disputes

IDBI-Industrial Development Bond Insurance

IDI-inherent defects insurance

IDLH-immediately dangerous to life and health

IDM-integrated disability management

IEA-Insurance Educational Association

IFC-insured fixed-price cleanup

IFEBP-International Foundation of Employee Benefit Plans

IFSC-International Financial Services Centre

IFSRA-Irish Financial Services Regulatory Authority

IFTA-International Fuel Tax Agreement

IGF-insurance guaranteed financing

IH-industrial hygiene

IHOU-Institute of Home Office Underwriters

IIA-Insurance Institute of America, Inc.

IIAA-Independent Insurance Agents of America, Inc.

IIAC-International Insurance Advisory Council

IIC-Insurance Institute of Canada

IICAE-Insurance Industry Consumer Affairs Exchange

IIE-Illinois Insurance Exchange

IIHS-Insurance Institute for Highway Safety

III-Insurance Information Institute

IIMA-Insurance Industry Meetings Association

IIS-International Insurance Seminars, Inc.

IL-interline (forms)

ILCA-Insurance Loss Control Association

ILF-increased limits factor

ILOC-irrevocable letter of credit

ILU-Institute of London Underwriters

IM-inland marine (forms)

IMCA-Insurance Marketing Communications Association

IME-independent medical exam

IMF-International Monetary Fund

IMUA-Inland Marine Underwriters Association

IOS-International Organization for Standardization

IPA-Independent Practice Association

IPAC-Insurance Public Affairs Council

IPFA-Insurance Premium Finance Association

IPT-insurance premium tax

IR-incident recall

IRA-individual retirement account

IRC-Insurance Research Council; Internal Revenue Code

IRES-Insurance Regulatory Examiners Society

IRI-Industrial Risk Insurers

IRIS-Insurance Regulatory Information System

IRM-improved risk mutuals

IRMC-Institute for Risk Management Consultants

IRMI-International Risk Management Institute, Inc.

IRP-International Registration Plan

IRPM-Individual Risk Premium Modification

IRR-internal rate of return

IRS-Internal Revenue Service

ISCEBS-International Society of Certified Employee Benefits Specialists

ISO-Insurance Services Office, Inc.

ISTEA-Intermodal Surface Transportation Efficiency Act

ITC-investment tax credit

ITCIF-International Trade Credit Insurance Facility

ITI-Insurance Testing Institute

IVANS-Insurance Value Added Network Services

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

J

JCAH-Joint Commission on the Accreditation of Hospitals

JCAHO-Joint Commission on Accreditation of Healthcare Organizations

JSA-job safety analysis

JUA-joint underwriting authority; joint underwriting association

JV-joint venture

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

K

K&R-kidnap and ransom

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

L

LAE-loss adjustment expense

LASH-lighter aboard ship

LCA-Life Communicators Association

LCF-loss conversion factor

LDF-loss development factor

LDW-limited damage waiver; loss damage waiver

LEA-Loss Executives Association

LEED-The Leadership in Energy and Environmental Design

LEPC-Local Emergency Planning Committee

LHWCA-Longshore and Harbor Workers Compensation Act

LIAA-Life Insurance Association of America

LIAMA-Life Insurance Agency Management Association

LIFO-last in, first out

LIMRA-Life Insurance Marketing & Research Association

LIRB-Liability Insurance Research Bureau

LLC-limited liability company

LMU-loss mitigation underwriting

LOC-letter of credit

LOMA-Life Office Management Association

LPG-liquid petroleum gas

LPRT-Leading Producers Round Table

LPSO-Lloyd's Policy Signing Office

LPT-loss portfolio transfer

LTA-lost time accident; long term agreement

LTD-long-term disability

LTL-less than truckload

LUMP-limits under multiple policy years

LUTC-Life Underwriter Training Council

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

M

M-masonry (construction)

MAAA-Member of American Academy of Actuaries

MAC-maximum allowable concentration

MAP-market assistance plan

MAS-management advisory service

MBIA-Municipal Bond Insurance Association

M&C-manufacturers and contractors (insurance)

MCA-Motor Carrier Act of 1980

MCO-managed care organization

M&D-minimum and deposit

MDO-monthly debit ordinary life insurance

MDRT-Million Dollar Round Table

MET-multiple employer trust

MFL-maximum foreseeable loss

MGA-managing general agent

MGU-managing general underwriter

MIB-Medical Information Bureau

MICA-Mortgage Insurance Companies of America

MICRA-Medical Insurance Compensation Reform Act

MIGA-Multilateral Investment Guarantee Agency

MIS-management information system

MLE-maximum loss expectancy

MLEA-multiple line exclusive agent

MLR-multiple location risk

MMI-maximum medical improvement

MMII-Mass Marketing Insurance Institute

M-NC-masonry-non-combustible (construction)

MNC-multi-national corporation

MOP-manufacturers output policy

MORT-Management Oversight and Risk Tree

MOSB-mercantile open stock burglary (insurance)

MP-minimum premium; multiple peril

MPCI-multi-peril crop insurance

MPL-maximum possible loss

MPP-managed premium plan

MSA-market service agreement

MSAWPA-Migrant and Seasonal Agricultural Worker Protection Act

MSBF-money and securities broad form (insurance)

MSD-musculoskeletal disorder

MSDS-material safety data sheet

MSVR-Mandatory Securities Valuation Reserve

MTC-motor truck cargo (insurance)

MVC-mean/variance/covariance risk modeling method

MVR-motor vehicle record

MYSL-multi-year single limit

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

N

NAA-National Association of Accountants

NAAQS-national ambient air quality standard

NABRTI-National Association of Bar-Related Title Insurers

NACA-National Association of Catastrophe Adjusters

NACIA-National Association of Crop Insurance Agents

NAFI-National Association of Fire Investigators

NAFIC-National Association of Fraternal Insurance Counselors

NAFTA-North American Free Trade Agreement

NAHU-National Association of Health Underwriters

NAIA-National Association of Insurance Agents

NAIC-National Association of Insurance Commissioners

NAICS-North American Industry Classification System

NAIFA-National Association of Insurance and Financial Advisors

NAII-National Association of Independent Insurers

NAIIA-National Association of Independent Insurance Adjusters

NAIIO-Non-Admitted Insurers Information Office

NAIW-National Association of Insurance Women

NALC-National Association of Life Companies

NAMIC-National Association of Mutual Insurance Companies

NAPIA-National Association of Public Insurance Adjusters

NAPSLO-National Association of Professional Surplus Lines Offices

NARAB-National Association of Registered Agents and Brokers

NASBA-National Association of State Boards of Accountancy

NASBP-National Association of Surety Bond Producers

NASD-National Association of Securities Dealers

NATB-National Automobile Theft Bureau

NAUA-National Auto Underwriters Association

NBC-nuclear, biological, chemical weapons

NBCU-National Bureau of Casualty Underwriters (no longer in operation)

NBFU-National Board of Fire Underwriters

NCCI-National Council on Compensation Insurance

NCCMP-National Coordinating Committee for Multi-Employer Plans

NCFC-noncontrolled foreign corporation

NCIL-National Conference of Insurance Legislators

NCOIL-National Conference of Insurance Legislators

NCPI-National Committee on Property Insurance

NCSI-National Council of Self-Insurers

NCUA-National Credit Union Administration

NDI-National Disaster Insurance Association

NEFE-National Endowment for Financial Education

NEISS-National Electronic Injury Surveillance System

NEPA-National Environmental Policy Act

NFCA-National Fraternal Congress of America

NFIP-National Flood Insurance Program

NFIRA-National Flood Reform Act

NFPA-National Fire Protection Association

NHCAA-National Health Care Anti-Fraud Association

NHI-National Health Insurance

NHTSA-National Highway Traffic Safety Administration

NICB-National Insurance Crime Bureau

NICO-National Insurance Consumer Organization

NIDC-National Insurance Development Corporation

NIOSH-National Institute for Occupational Safety and Health

NIPA-National Institute of Pension Administrators

NIRP-National Insurance Risk Profile

NISS-National Independent Statistical Service

NOA-naturally occurring asbestos

NOC-not otherwise classified

NOL-not officially lapsed

NP-named perils

NPD-no payroll division

NPDB-National Practitioner Data Bank

NPL-National Priority List

NPV-net present value

NRC-Nuclear Regulatory Commission

NRRA-National Risk Retention Association

NRT-National Response Team

NSC-National Safety Council

NSIPA-National Society of Insurance Premium Auditors

NSLI-National Service Life Insurance

NSP-net single premium

NSPA-National Society of Public Accountants

NSPE-National Society of Professional Engineers

NSPS-New Source Performance Standards

NTSB-National Transportation Safety Board

NVD-no value declared

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

O

OASDHI-Old Age, Survivors, Disability, and Health Insurance (Act)

OCA-outstanding claims account

OCIP-owner controlled insurance program

OCP-owners and contractors protective (insurance)

OCSLA-Outer Continental Shelf Lands Act

OD-occupational disease

OECD-Organization for Economic Cooperation and Development

OEE-operators extra expense (insurance)

OFA-Organized Flying Adjusters

OGP-original gross premium

OI-outage insurance

OIS-operating information system

OL&T-owners, landlords, and tenants (insurance)

O&M-operations and maintenance (programs)

OMCS-Office of Motor Carrier Standards

OPIC-Overseas Private Investment Corporation

ORFS-operational risk financing securities

ORM-operational risk management

OSHA-Occupational Safety and Health Act; Occupational Safety and Health Administration

OSLR-outstanding loss reserves

OTC-other than collision

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

P

PA-particular average

PAAS-Premium Audit Advisory Service

PAIU-Professional Association of Insurance Underwriters

PAP-personal auto policy

PARMA-Public Agency Risk Managers Association

PAS-premium allocation system

PBGC-Pension Benefits Guaranty Corporation

P&C-property and casualty

PC-professional corporation

PCAOB-Public Company Accounting Oversight Board

PCC-protected cell captive

PCI-Property Casualty Insurers of America

PCIP-partner controlled insurance program

PD-property damage

PE-professional engineer

PEBB-public employee blanket bond

PEO-professional employer organization

PERT-Performance, Evaluation, and Review Technique

PFIC-passive foreign investment company

P&I-protection and indemnity (insurance)

PI-personal injury

PIA-primary insurance account; Professional Insurance Agents (association)

PIAA-Physician Insurers Association of America

PICA-Professional Insurance Communicators of America

PIP-personal injury protection

PIPEDA-Personal Information Protection and Electronic Documents Act

PIPSO-Property Insurance Plans Service Office

PL-professional liability

PLE-primary loss expectancy

PLL-pollution legal liability (insurance)

PLR-primary loss retention

PLRB-Property Loss Research Bureau

PLUS-Professional Liability Underwriting Society

PMA-package modification adjustment

PMF-package modification factor

PMI-private mortgage insurance

PML-probable maximum loss

PMPL-project management protective liability (insurance)

PNOC-provisional notice of cancellation

POL-public officials liability

PORC-producer-owned reinsurance company

PPF-personal property floater

PPO-preferred provider organization

PR-pro rata

PRD-pro rata distribution

PRI-political risk insurance

PRIMA-Public Risk Management Association

PRO-peer review organization

PRP-potentially responsible party; preferred risk policy

PSA-placement service agreement

PSAC-Policy Signing and Accounting Centre (London)

PSC-Public State Commission; Public Service Commission

PSI-pollutant standard index

PSLRA-Private Securities Legislation Reform Act

PSRO-Professional Standards Review Organization

PTE-prohibited transaction exemption

PUC-Public Utilities Commission

PV-present value

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Q

QC-quality control

QPC-qualified pollution exclusion

Q Tip Trust-Qualified Terminable Interest Property Trust

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R

RA-remedial action; regional administrator (Clean Water Act)

RAA-Reinsurance Association of America

RACM-regulated asbestos containing material

RACT-reasonable available control technology

RAM-reverse-annuity mortgage

RAROC-risk-adjusted return on capital

RARORAC-risk-adjusted return on risk-adjusted capital

RBC-risk-based capital

RBNE-reserved but not enough

RC-replacement cost

RCRA-Resource Conservation and Recovery Act of 1976

RDF-retro development factor

REIT-Real Estate Investment Trust

RFIS-Remedial Feasibility Investigation Study

RFP-request for proposal

RICO-Racketeer Influenced and Corrupt Organizations Act of 1970

RIMS-Risk and Insurance Management Society, Inc.

RM-risk management

RMF-rate modification factor

RMIS-risk management information system

RML-residual market load

ROC-Research and Oversight Council on Workers' Compensation

ROCIP-rolling owner controlled insurance program

ROE-return on equity

ROEBI-Return on Employee Benefits Investment

ROI-return on investment

ROL-rate on line

RORAC-return on risk-adjusted capital

RP-return premium

RPG-risk purchasing group

RPII-related party insurance income

RPLU-Registered Professional Liability Underwriter

RPM-remedial project manager

RPMP-Risk Premium Modification Plan

RQ-reportable quantity

RRA-Risk Retention Act

RRG-risk retention group

RRSP-registered retirement saving plan

RSPA-Research and Special Programs Administration

RTW-return to work

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S

SAA-Surety Association of America

SAP-statutory accounting principles

SARA-Superfund Amendments and Reauthorization Act

SARBOX, SOx, SOX-Sarbanes-Oxley Act of 2002

SAWW-statewide average weekly wage

SB-Senate Bill

SBLI-Savings Bank Life Insurance

SCC-segregated cell captive

SCCIA-South Carolina Captive Insurance Association

SCIC-Society of Certified Insurance Counselors

SCOH-Statistical Coding Occupancy Hazard

SCOPE-supervision, construction, occupancy, protection, exposure

SCPCU-Society of Chartered Property & Casualty Underwriters

SEC-Securities and Exchange Commission

SEMCI-single entry multiple carrier interface

SEP-simplified employee pension

SERC-State Emergency Response Commission

SERP-supplemental extended reporting period; supplementary employee retirement plan

SEUA-Southeastern Underwriters Association

SF-standard fire forms

SFHA-special flood hazard area

SFIP-standard flood insurance policy

SFP-standard fire policy jurisdictions

SFR-semi-fire resistive

SGLI-Servicemen's Group Life Insurance

SIA-Society of Insurance Accountants

SIC-Standard Industry Classification

SIIA-Self-Insurance Institute of America

SIP-State Implementation Plans

SIPC-Securities Investor Protection Corporation

SIR-self-insured retention; Society of Insurance Research

SITE-Society of Insurance Trainers and Educators

SIU-special investigative unit

SK-storekeepers (liability)

SL-sprinkler leakage

SLC-special litigation committee

SLR-stop-loss reinsurance

SLUSA-Securities Litigation Uniform Standards Act

SMP-special multi-peril (package policy)

SOA-Society of Actuaries

SOx, SOX-Sarbanes-Oxley Act of 2002

S&P-Standard and Poor's

SPAP-Special Personal Auto Policy

SPBA-Society of Professional Benefit Administrators

SPC-special purpose company; segregated portfolio company

SPECS-specifications

SPV-special purpose vehicle

SR-short rate

SRA-Society for Risk Analysis

SR&CC-strikes, riots, and civil commotions

SRMC-Society of Risk Management Consultants

SSA-Social Security Administration

SSAP 62-Statement of Statutory Accounting Principles No. 62, Property and Casualty Reinsurance

SSRS-single state registration system

STD-short-term disability

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

T

TAMRA-Technical and Miscellaneous Revenue Act of 1988

TCD-Treasury Certificate of Deposit

TCN-third country national

TCPA-Telephone Consumer Protection Act of 1991

TDA-tax deferred annuity

TDB-temporary disability benefits

TDI-trade disruption insurance

TEFRA-Tax Equity and Financial Responsibility Acts of 1982 & 1983

TERI-targeted enterprise risk insurance

TIAA-Teachers Insurance and Annuity Association

TIF-tax incremental financing

TIL-Truth in Lending (Act)

TIRB-Transportation Insurance Rating Bureau

TIV-total insured value

TL-truckload

TLO-total loss only

TLV-threshold limit values

TM-tax multiplier

TMP-Texas Multi-Peril (package policy)

TOLI-trust-owned life insurance

TOR-technique of operations review

TPA-third-party administrator

TRA-Tax Reform Act of 1984

TRIA-Terrorism Risk Insurance Act

TRIEA-Terrorism Risk Insurance Extension Act of 2005

TRIPRA-Terrorism Risk Insurance Program Reauthorization Act of 2007

TSA-tax sheltered annuity

TSCA-Toxic Substances Control Act

TSDF-treatment, storage, and disposal facility

TTD-temporary total disability

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

U

UBIT-unrelated business income tax

UBTI-unrelated business taxable income

UCC-Uniform Commercial Code

UCD-unemployment compensation disability

UCI-unemployment compensation insurance

UCR-usual, customary, reasonable (reimbursement)

UCRA-Unified Carrier Registration Agreement

UEL-upper explosive level

UEP-unearned premium

UJF-unsatisfied judgment fund

UIM-underinsured motorist

UIMV-underinsured motor vehicle

UL-umbrella liability; Underwriters' Laboratories

ULAE-unallocated loss adjustment expenses

ULC-Underwriters Laboratories of Canada

UM-uninsured motorist

UMPD-uninsured motorist property damage

UMV-uninsured motor vehicle

UNL-ultimate net loss

U&O-use and occupancy

UP-unearned premium

UPR-unearned premium reserve

UPS-uninterruptible power system

URL-uniform resource locator

URMIA-University Risk Management & Insurance Association

USDA-U.S. Department of Agriculture

USERRA-Uniformed Services Employment and Reemployment Rights Act of 1994

USGLI-U.S. Government Life Insurance

USITC-U.S. International Trade Commission

USL&HW-United States Longshore and Harbor Workers (Compensation Act)

UST-underground storage tank

UTBMS-Uniform Task Based Management System

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

V

VAR-value-at-risk

VEBA-Voluntary Employees' Beneficiary Association

VGLI-Veterans Group Life Insurance

VIE-variable interest entity

V&MM-vandalism and malicious mischief

VOC-volatile organic compound

VOR-value of risk

VP-valuable papers

VPP-Voluntary Protection Program

VPPA-Video Privacy Protection Act

VSI-vendors single interest (insurance)

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

W

WA-with average

WACC-weighted average cost of capital

WAEPA-Worldwide Assurance for Employees of Public Agencies

WC-workers compensation

WCRI-Workers Compensation Research Institute

WLRT-Women Leaders Round Table

WMD-weapon of mass destruction

WPA-with particular average

WYO-write your own

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

X

XCU-explosion, collapse, and underground (property damage hazard)

XS-excess policy

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Y

Y2K-year 2000

YRCT-yearly renewable convertible term

YRT-yearly renewable term

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Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z