Glossary

An asset risk is the measure of an asset's default potential or market value fluctuation.

An asset share value is the value of a class of business to an insurer.

An assigned risk (AR) plan is a method of providing insurance, especially those required by state statutes, for those risks that are uninsurable in the normal insurance market. All insurers that write that coverage in the state will be "assigned" a share of applicants from the AR plan.

An assignee is the receiver of policy rights through an assignment.

Assignment is a transfer of legal rights under or interest in an insurance policy to another party.

An associate is an attorney who is new to the practice of law or who has not yet made partner at a law firm.

The Associated General Contractors of America (AGC) is a national trade organization for construction contractors that lobbies on behalf of and provides services and resources to its members.

The Associateship of the Chartered Insurance Institute (ACII) is a professional designation, established in the United Kingdom, identifying an individual who has satisfactorily completed 10 examinations on insurance and general business topics. This designation includes ethics and experience requirements similar to those required to attain the Chartered Property Casualty Underwriter (CPCU) designation. The Chartered Insurance Institute (CII) administers the ACII program.

Associate in Automation Management (AAM) is a professional designation awarded by The Institutes upon successful completion of three national exams.

The Associate in Claims (AIC) is a professional designation awarded by The Institutes upon successful completion of four national exams.