Glossary

Plain language laws are state legislation or regulations that require insurance policies to be written in everyday language. The intent is to make policies more easily understood and to encourage insureds to read their policies. The passage of these laws in some states during the 1980s prompted the Insurance Services Office and other advisory organizations to complete what they labeled as an "insurance simplification project" with the goal of developing "easy to read policy forms." Modern policies still utilize much of the formatting, terminology, and approach developed as part of this project.

Planned retention is a risk financing term referring to retention of losses by an organization as a result of a conscious decision. The organization is aware of the loss and exposure and makes a decision to assume the exposure.

Planning is the process of defining goals for the individual's or organization's future performance and determining the tasks and resources to be used to attain those goals. It is one of the four functions of the management process.

Platooning involves electronically coupling or linking of two or more trucks in a convoy, using the lead truck to control those electronically "tethered" behind it, thereby reducing wind resistance and fuel consumption. This grouping of vehicles would increase the capacity of highways by reducing the distance required between trucks. Platooning requires that drivers be present in all vehicles.

Pleadings are the formal allegations of the respective claims and defenses by the parties to a lawsuit, consisting of a complaint, an answer, a reply to a counterclaim, an answer to a cross-claim, a third-party complaint, and an answer to a third-party complaint. Pleadings also include briefs filed in support or in opposition to a motion.

Pluvial flooding, commonly referred to as "flash floods," is principally caused by downpours in areas without adequate drainage.

A point-of-entry treatment device is one applied to the drinking water in a house or building to reduce the contaminants in the water.

A point-of-use treatment device is one applied to a single tap to reduce contaminants in the drinking water at the one faucet.

A point of service (POS) plan refers to a health maintenance organization or preferred provider organization's program that allows members to seek treatment from providers outside the network at a reduced benefit level, commonly 60 percent or 70 percent of in-plan coverage, or at a higher premium. There is usually an additional fee for using the POS (out-of-network) option. Also known as open-ended plan.

Police professional liability insurance provides liability coverage for police officers and police departments, in conjunction with acts, errors, and omissions while performing their professional duties. The policies cover such perils as false arrest and civil rights violations. Unlike most professional liability insurance, the policies are sometimes written with occurrence triggers.