Glossary

An inside adjuster is a claims adjuster who performs the claims adjusting function without leaving the office.

Inside directors are members of a corporate board of directors who are also employees of the corporation.

An insolvency clause is a clause holding a reinsurer liable for its share of loss assumed under a treaty, even though the primary company has become insolvent.

An inspection bureau is an organization that investigates loss exposures for property and liability insurers.

Fees for statutory boiler inspections are called inspection fees.

An inspection report is a report, by an insurer or one of a number of inspection services available, assessing the moral, financial, and physical aspects of a risk.

An installation floater is inland marine coverage on property (usually equipment) being installed by a contractor.

An installment settlement is a settlement other than a lump sum that involves periodic payments.

Installment tail coverage is the purchase of an extended reporting period (ERP) for a claims-made liability policy in 1-year increments.

Insurability refers to the acceptability to the insurer of an applicant for insurance at a given rate.