Glossary

A third party is someone other than the insured and the insurer or the plaintiff and the defendant.

Threshold refers to the lowest dose of a chemical at which a specified measurable effect is observed and below which it is not observed.

Threshold level refers to time-weighted average pollutant concentration values, exposure beyond which is likely to affect human health adversely.

Threshold limit value is the concentration of an airborne substance to which an average person can be repeatedly exposed without adverse effects.

Tie-in endorsements are endorsements sometimes added to a directors and officers (D&O) liability insurance policy form.

Time element insurance is a property insurance term referring to coverage for loss resulting from the inability to put damaged property to its normal use.

Time element loss results from an inability to use a property.

Time series analysis is an arithmetic trending technique that assumes that the variable to be forecast (known as the dependent variable) varies predictably with time (the independent variable).

The time value of money is a function of the interest rate paid and the amount of time the money is invested. It is the ability to invest money and earn income or interest over a period of time.

Timing risk is the uncertainty surrounding the timing of a loss occurrence and its payout profile.