Glossary

The Unified Carrier Registration Agreement (UCRA) replaced the Single State Registration System (SSRS), which officially ended as of January 1, 2007, for interstate motor carrier registration across multiple states.

The Uniformed Services Employment and Reemployment Rights Act (USERRA) of 1994 is a federal law intended to ensure that persons who serve in "uniformed services" (1) are not disadvantaged in their civilian careers, (2) are promptly reemployed in their civilian jobs, and (3) are not discriminated against in employment.

Uniform Task Based Management System (UTBMS) was established by the American Bar Association in 1994 with the assistance of PriceWaterhouse and the American Corporate Counsel Association (ACCA) to provide a tool to help determine exactly where legal dollars are being spent.

A unilateral contract is one in which only one party makes an enforceable promise.

The unilateral extended reporting period provision is found in a claims-made policy and allows the insured to purchase an extended reporting period (ERP) only if the insurer decides to cancel or nonrenew the policy.

Unimpaired surplus, in a stock insurance company, is the equity above the statutory minimum capital and not used for collateralization of assumed risk or otherwise pledged in support of the insurer's or an affiliate's business activities.

Uninsured motorists (UM) coverage applies to bodily injury and, in some states, property damage incurred by an insured when an auto accident is caused by a motorist who is not insured.

Unit statistical card, also known as a "stat card," is the instrument that provides the National Council on Compensation Insurance with necessary payroll and loss information to establish experience modifications.

A universal life insurance policy is considered "unbundled" life insurance because there is a clear equation for how the premium is used.

Unladen liability is used in motor carrier/trucking terminology to refer to liability coverage while a truck is operated with an attached empty trailer that is not hauling cargo (i.e., deadheading) or without any trailer (i.e., bobtailing), regardless of whether the truck is dispatched or not.