Glossary
The net written premium is the written premium less deductions for commissions and ceded reinsurance.
Read MoreNewly acquired entities are businesses or organizations an insured purchases during the policy period.
Read MoreNewsgathering torts refer to torts committed by news personnel during the course of obtaining and covering news events.
Read MoreNew for old is an historic provision in marine insurance contracts stipulating that when repairs are made and new parts are supplied in place of old ones that have been lost or damaged, there is an agreed discount for depreciation.
Read MoreNew source performance standards are uniform national Environmental Protection Agency (EPA) air emission and water effluent standards that limit the amount of pollution allowed from new sources or from modified existing sources.
Read MoreNo-fault or personal injury protection (PIP) is a type of auto insurance coverage mandated by statute in some jurisdictions.
Read MoreNo-pay, no-play laws are state laws that prohibit uninsured drivers from collecting certain types of damages from negligent insured drivers.
Read MoreA nonadmitted asset is an asset that may be accounted for in an insurer's balance sheet but not allowed to be counted for purposes of calculating statutory capital or compliance with solvency ratios.
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