Glossary

"As their interests may appear" (ATIMA) is a phrase added to insurance policies and endorsements to add others as insureds.

Attachment basis is a provision in reinsurance agreements that determines whether and in what manner a reinsurance agreement covers a specific loss.

The attachment point is the point at which excess insurance or reinsurance limits apply.

Attained age is the age of an insured on a given date.

An attorney-client communication is an oral or written communication between an attorney and a client that is intended to remain confidential.

Attorney work product is written or oral materials prepared by or at the direction of an attorney pursuant to the attorney/client relationship or in furtherance of pending or contemplated litigation.

The attractive nuisance doctrine is a notable exception in the law relating to trespassers that imposes a special duty of care on a person maintaining an artificial condition on land that attracts children (e.g., a swimming pool or playground).

An auction rate security (ARS) is type of long-term bond issued by a corporation or a municipality.

An audit is a survey of the financial records of a person or organization conducted annually (in most cases) to determine exposures, limits, premiums, etc.

Auto is defined in the commercial auto and commercial general liability (CGL) policies as any land motor vehicle, trailer, or semitrailer designed for travel on public roads; or any other land vehicle subject to a compulsory or financial responsibility law or other motor vehicle insurance law where it is licensed or principally garaged.