Glossary

Rating experience refers to computing a premium based on the loss experience of the risk itself.

Rating methodology refers to the method used by an underwriter when calculating premiums.

The financial strength of insurance companies and their ability to pay the claims of their policy owners are very important to the insurance-buying public and to the states that license and certify those insurers.

Re-entry term life insurance refers to a form of annual renewable term insurance under which the insured can reapply and be underwritten for the term insurance after a period specified in the policy to possibly obtain a lower premium than the guaranteed renewal rate.

In life insurance, readjustment income is an amount of money to provide for readjustment expenses after the death or disability of the breadwinner.

Real estate brokers errors and omissions insurance is professional liability coverage for persons engaged in buying, selling, leasing, or otherwise dealing in real estate on behalf of others.

Real property is land and most things attached to the land, such as buildings and vegetation.

Reasonable accomodation, as defined in the Americans with Disabilities Act (ADA) of 1990, is either modifications or adjustments to a job application process or a job performance process that enable a qualified applicant with a disability to be considered for or perform the position.

The reasonable expectations doctrine is a legal concept of policy interpretation recognized by some states. Courts applying this doctrine will interpret a policy to provide the protection an insured party might reasonably have expected, even if the policy wording does not provide that coverage.

Reasonable repairs as an additional coverage provided by the homeowners policy.