Glossary
Accountants professional liability insurance provides coverage for financial loss caused by professional accounting services.
Read MoreAccounts receivable coverage insures against loss of sums owed to the insured by its customers that are uncollectible because of damage by an insured peril to accounts receivable records.
Read MoreAn account current is a monthly statement to the insurer by its agent showing policy numbers, premiums written, return premiums, commissions, and net amount due to or from the insurer.
Read MoreAccreditation is the process in which a state or other standard-setting regulatory organization determines whether an entity seeking to provide services subject to that organization's authority meets acceptable standards for such purposes.
Read MoreAccredited Adviser in Insurance (AAI) is a professional designation sponsored through a joint effort of the Insurance Institute of America (IIA) and the Independent Insurance Agents of America (IIAA).
Read MoreIn property-casualty (P&C) insurance, accumulation refers to the total combined risks that could be involved in a single loss event (involving one or more insured perils).
Read MoreIn life insurance, the accumulation period is the time during which an annuitant makes premium payments.
Read MoreAcquisition costs refer to direct costs an insurer incurs to "acquire" the premium—for example, commissions paid to a broker or fronting company.
Read MoreIn reinsurance contracts, the act-as-one provision is included to avoid the situation where multiple reinsurers are all part of the same dispute and each wants to appoint its own arbitrator.
Read MoreAction levels are the maximum allowable value of a harmful contaminant after which some type of response must be taken.
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