Michigan Council NAIW

Glossary Index
of
Defined Risk Management & Insurance Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

A201 Construction Contract

abandonment

abatement

absolute pollution exclusion

absorbed dose

accident

accidental death

accidental death and dismemberment (AD&D)

accidental means

accident year data

accident year experience

accommodation line

accountants professional liability insurance

account current

accounts receivable coverage

accreditation

Accredited Adviser in Insurance (AAI)

action versus the insurer provision

active retention

activity standards

act of God

actual cash value (ACV)

additional expense coverage

additional insured

additional insured endorsement

additional living expense (ALE) coverage

additional medical

additional named insured

add-on control device

"add-on" no-fault laws

administrative order on consent

administrative services only (ASO)

administrator

admiralty law

admitted assets

admitted/authorized reinsurance

advanced wastewater treatment

advance loss of profit (ALOP) insurance

advancement of defense costs provision

Age Discrimination in Employment Act (ADEA) of 1967

agent's errors and omissions

aggregate excess insurance

aggregate excess of loss reinsurance

aggregate limit of liability

aggregate limits reinstatement

aggregate stop-loss reinsurance

agreed amount clause

agreed value coverage option or provision

agreement not to rely on governmental immunity

AIA

airborne particulates

air quality control region

air quality standards

allied healthcare professional liability insurance

allocated expenses

allocated loss adjustment expenses (ALAE)

allocated loss expense

allocation

all risks coverage

all risks, difference-in-conditions (builders risk)

all risks, ground and flight

all risks, not in motion

alternate employer endorsement

alternative dispute resolution (ADR)

alternative dispute resolution provision

alternative market

alternative minimum tax (AMT)

alternative remedial contract strategy contractors

alternative risk financing facilities

alternative risk financing mechanism

alternative risk transfer (ART) market

A.M. Best rating

amendment of "insured contract" definition endorsement

AMERCO v. Commissioner

American Association of Insurance Services (AAIS)

American Institute for Chartered Property Casualty Underwriters, Inc. (AICPCU)

American Institute of Architects (AIA)

American Institute of Certified Public Accountants (AICPA)

Americans With Disabilities Act (ADA)

amount at risk

amount subject

analytic risk modeling method

animal mortality insurance

anniversary date

anniversary rating date

annual aggregate deductible

anti-concurrent cause (ACC) provision

anti-indemnity statute

anti-stacking provisions

application of retention

apportionment

appraisal clause

appraisers errors and omissions

architects and engineers (A&E) liability coverage

ARM

asbestos

asbestos abatement

asbestos containing material (ACM)

asbestos program manager

ASO

assessment company (society or insurer)

Associated General Contractors of America (AGC)

Associate in Automation Management (AAM)

Associate in Claims (AIC)

Associate in Fidelity and Surety Bonding (AFSB)

Associate in Information Technology (AIT)

Associate in Insurance Accounting and Finance (AIAF)

Associate in Insurance Services (AIS)

Associate in Loss Control Management (ALCM)

Associate in Management (AIM)

Associate in Marine Insurance Management (AMIM)

Associate in Personal Insurance (API)

Associate in Premium Auditing (APA)

Associate in Reinsurance (ARe)

Associate in Research and Planning (ARP)

Associate in Risk Management (ARM)

Associate in Surplus Lines Insurance (ASLI)

Associate in Underwriting (AU)

Associateship of the Chartered Insurance Institute (ACII)

association captive

association group

Association of Trial Lawyers of America (ATLA)

association professional liability insurance

assumption endorsement

assumption of liability agreement

assumption of liability endorsement (ALE)

assumption of risk

assumption of risk doctrine

attorney/client communication

attorney work product

attractive nuisance doctrine

audit

authorized non-admitted reinsurer

auto

auto coverage symbols

auto loan/lease gap coverage

automatic additional insured endorsement

automatic increase in insurance provision

automatic insureds

automatic premium loan

automatic treaty

automobile

automobile liability excess indemnity

automobile liability insurance

automobile physical damage insurance

average basis

average rate

average severity

average weekly wage (AWW)

aviation accident insurance

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

B

back-dated liability insurance

back pay

back-to-back deductible

bankers professional liability (BPL) insurance

bankruptcy condition

bareboat charter

barratry

Basel Committee on Banking Supervision

base premium

basic causes of loss form (ISO)

basic extended reporting period (BERP)

below-target-risk (BTR)

benefits payable exclusion

BERP

best available control measures (BACM)

best demonstrated available technology (BDAT)

Best’s Capital Adequacy Ratio (BCAR)

bilateral extended reporting period provision

biological magnification

biomechanical analysis

bioremediation

Black Lung Benefits Act

blackmail settlement clause

blackout period

blanket additional insured endorsement

blanket contractual liability insurance

blanket fidelity bond

blanket group boiler and machinery coverage

blanket limit

blanket medical expense

blanket policy

blanket position bond

blended finite risk

blended risk

blowout and cratering

blowout prevention warranty

bodily injury by accident limit (workers compensation)

bodily injury by disease, each employee (workers compensation)

bodily injury by disease—policy limit (workers compensation)

boiler and machinery insurance

Bornhuetter-Ferguson technique

borrowed servant rule

brands and labels endorsement

breach

breach of contract

breach of warranty clause

break point

British business interruption coverage

broadcasters liability

broad causes of loss form (ISO)

broad evidence rule

broad form comprehensive general liability (BFCGL) endorsement

broad form contractual liability insurance

broad form drive other car coverage

broad form hold harmless clause

broad form named insured endorsement

broad form pollution exclusion

broad form property damage (BFPD)

broker

brokerage department

brokerage market

brother-sister relationship

building and personal property coverage form (ISO)

building codes effectiveness grading schedule (BCEGS)

building ordinance coverage

business continuity management (BCM)

business income coverage

business income worksheet

business interruption coverage

business interruption worksheet

business judgment rule

business legal expense insurance

business risk

businessowners policy (BOP)

business use class

buyback deductible

buyers' market

buyout settlement clause

buy/sell agreement

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

C

CAA

Cable Communications Policy Act (CPPA)

calendar year experience

Capital Asset Pricing Model (CAPM)

capital stock company

captain of the ship doctrine

captive

captive facility

Captive Insurance Companies Association (CICA)

captive management company

captive value added (CVA)

care, custody, or control (CCC)

cargo insurance

Carmack Amendment

Carriage of Goods by Sea Act (COGSA)

case reserves cash flow plans

cash balance pension plans

cash call

cash flow program

cash flow return on investments (CFROI)

cash flow underwriting

catastrophe equity put

catastrophe plan

catastrophe policy

catastrophe reinsurance

catastrophe reserves

catastrophic loss

causes of loss

causes of loss forms (ISO)

central collection point

central tendency

CERCLA

certificate holder

certificate of compliance

certificate of insurance

certificate of reinsurance

certified act of terrorism

Certified Risk Manager (CRM)

chaplain or priest malpractice

charter

Chartered Insurance Institute (CII)

Chartered Life Underwriter (CLU)

Chartered Property Casualty Underwriter (CPCU)

charterers legal liability coverage

chemical, biological, radiological, nuclear (CBRN) weapon

Chemnet

chief risk officer (CRO)

Children's Online Privacy Protection Act (COPPA)

Choice no-fault

chronic toxicity

chronological stabilization plans

CIF

circumstance

Civil Rights Act of 1991

claims-made and reported policy

claims-made and reported provision

claims-made multiplier

claims-made reinsurance

Class Action Fairness Act of 2005

Clean Water Act (CWA)

client company

clinical patterns

closed-loop recycling

coinsurance hammer clause

coinsurance provision

coinsurer

collapse additional coverage

collapse: homeowners policy

collateralization of cash flow programs

collateral source rule

collateral value insurance

collection commission

collection fee

collision damage waiver

collision insurance

combination plan reinsurance

combination policy

combined ratio

comment period

commercial appropriation

commercial auto insurance coverage forms

commercial crime policy

commercial general liability (CGL) policy

commercial insurer or reinsurer

commercial lines

Commercial Lines Manual (CLM)

commercial multiple peril (CMP) policy