Insurance glossary

Your online insurance dictionary

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

Abandonment Clause

Accidents

Act of God

Actuarial

Actuaries

Acquisition Cost

Additional Perils

Adjustable Policies

Advance Profits Insurance

Agents

Aggregate Limits

Aircraft Damage

Akad

All Risks

All Risks Coverage

Alteration

Annualized premium

Annuity

Arbitration Clause

Architect’s, Surveyor’s and Consulting Engineer’s Fees

Automatic Policy Loan

Automatic Premium Holiday

Average

B

Bailee’s Liability

Banker’s Blanket Bond

Basic Life Insurance

Beneficiary

Bid Bond

Bloodstock Insurance

Boilers and Pressure Plant Cover

Bonds

Book Debts Insurance

Broker

Builders Risk Hull Insurance

Burglary

Bursting or Overflowing of Water Tanks, Apparatus and Pipes

Business

Business Interruption Insurance

Business Machines

Business Travel Insurance

C

Cancellation

Captive

Cargo

Cash Value

Certificate of Insurance

Chartered Insurance Institute (CII)

Claim

Co-Insurance

Collision Damage Waiver

Computer Insurance

Computer Systems Records

Condominium Insurance

Consequential Loss

Contestable Period

Constructive Total Loss

Contingent Liability

Contract of Indemnity

Contractor’s All Risks

Contribution

Contributory Negligence

Cost Insurance and Freight

Cost of Insurance

Counter Guarantee

Coupon Insurance

Cost of Rider

Crop Insurance

D

Date of issue

Debris Removal Clause

Declaration

Declaration Policies

Deductible

Defense Costs

Demurrage

Denial of Access

Defective Design

Difference in Conditions Insurance

Directors and Officers

Disablement

Driving Other Cars

Drink/Drugs

Dual Basis Wages

E

Earthquake

Effective Date

Electrical and Mechanical Plant

Electrical Machines and Installation

Employee’s Dishonesty

Employer’s Liability

Engineering Insurance

Endorsement

Endowment Life Plan

Equipment Floater

Erection All Risks

Errors and Omissions Insurance

Exceptions

Excess

Excess Claim

Excess of Loss

Exclusion

Ex Gratia Payment

Expediting Expenses

Experience Refund

Explosion

Export Credit Insurance

Expropriation Insurance

Extortion Insurance

F

Facultative Reinsurance

Fees, Professional

Fidelity Guarantee

Fire and Theft

Fire Policy

Fire Waste

First Loss Policies

First year Initial premium

Fleet Policy

Floating Policy (Fire)

Floating Policy (Marine)

Flood

FOB Contract

Foreign Use (Cars)

Foundations Clause

Franchise

Free of Particular Average (FPA)

Free of Capture and Seizure Clause

Free-Look Period

Full Theft Cover

Fund Type

G

General Agent

General Average

General Exceptions

General Principles

General Provisions of Policy

Geographical Limits

Glass

Golfer's Insurance

Goods in Transit

Grace Period

Group Insurance Application Form (SPAK)

Group Life/Health Insurance Product

Gross Premium

Gross Profit

H

Hague Protocol 1955

Hague Rules / Hague-Visby Rules

Hail Insurance

Hazard

Hazardous Pursuits

Highly Protected Risk (HPR)

Hijacking

Hired-in Plant

Hired Premises

Hoists and Lifts

Hole-in-One

Household Insurance

Hull Insurance

I

Impact

Implied Conditions

Increased Cost of Working

Incurred Losses

Indemnity

Index Linked Policies

Industrial All Risks

Inherent Vice Exclusion

In-Patient Cover

Inspection

Institute Cargo Clauses

Insurable Interest

Insurance Period

Insured

Insurer

Intermediaries

Investment-linked Plan

Investment Value

J

Jettison

Jewellers Block

Jewellery

Judicial Bond

Jurisdiction Clause

K

Kidnap and Ransom

Knock for Knock Agreement

L

Laid-Up Returns

Landslip

Lapse

Legal Costs

Legal Expenses Insurance

Legal Liability

Liability Insurance

Libel and Slander

Lien Clause

Life Insurance Application Form (SPAJ)

Lightning

Limits of Liability

Liquidation

Livestock

Lloyd’s

Long Term Agreement

Loss Adjusters

Loss of Profits

Loss of Use of Vehicle

Loss Ratio

M

Machinery

Maintenance of Motor Vehicle

Maintenance Period

Malicious Damage

Malpractice Insurance

Marine Insurance

Material Damage Proviso

Material Fact

Maturity Date (Insurance Expiration)

Maximum Indemnity Period

Maximum Probable Loss

Medical Insurance

Money Insurance

Moral Hazard

Mortality

Mortgagee Clause

Motor Insurers Bureau

Mysterious Disappearance Exclusion

N

Named Drivers

Named Peril Policy

Negligence

Neon Signs

Net Asset Value (NAV)

’New for Old’

No Claim Discount

Non-admitted Insurer

Non-contribution Clause

Non-disclosure

Notice of Cancellation

Notice of Claims

Notification

Nuclear Exclusion

Nuisance

O

Observance of Conditions

Occupation

Occurrence

Offer and Acceptance

Ombudsman

Onus of Proof

Open Policy

Operative Clause

Other Contents Clause

Overinsurance

Own Damage

P

Package Policy

Paid-Up Value

Pair or Set Clause

Participating Policy

Particular Average

Performance Bond

Perils

Personal Accident

Personal Liability

Personal Lines

Pet Insurance

Physical Hazard

Pleasure Craft Insurance

Pluvius Insurance

Policy

Policy Acquisition Costs

Policy Administration Cost

Policy Anniversary

Policy Effective Date

Policy Holder

Policy Illustration

Policy Issue Date

Political Risks

Policy Lapse

Policy Loan

Policy year

Pollution Exclusion

Pre-Existing Condition

Pre-existing Condition Exclusion

Premium

Premium Adjustment

Premium Payment Period

Products Guarantee

Products Liability

Products Recall

Professional Indemnity

Proposal Form

Pro Rata Cancellation

Protection and Indemnity Insurance

Provider

Proximate Cause

Public Liability

Public Utilities

Punitive Damages

Q

Quota Share

R

Radioactive Contamination

Recital Clause

Regular Premium Policy

Reimbursement

Reinstatement

Reinstatement by Insurers

Reinstatement of the Sum Insured

Reinstatement Cover

Reinsurance

Rejection Risks

Removal of Debris

Renewal Notice

Replacement-as-new

Res Ipsa Loquitur

Retention

Retrospective Rating

Rider

Riot

Risk Control

Risk Financing

Risk Management

Robbery

Running Down Clause

S

Salvage

Salvage Charges

Sea-worthiness Admitted Clause

Self Insurance

Self Inflicted Injury

Sharia Product

Single Article Limit

Single Premium Policy

Slander

Solvency Margin

Special (or Additional) Perils

Special Provisions of Policy

Specified Working Expenses

Spontaneous Combustion

Sprinkler Leakage

Standing Charges

Statute of Limitations

Storm

Strict Liability

Subrogation

Subsidence

Sue and Labour

Sum Assured

Sum Insured

Surrender

Survival Period

Switching

T

Target Risk

Tariff

Temporary Disablement

Temporary Removal

Tenants Improvements

Tenant’s Liability

Term Life Plan

Territorial Limits

Terrorism

Theft Insurance

Third Party Administrator (TPA)

Third Party Liability

Three-Fourths Collision Liability

Time-on-Risk Charge

Time Policy

Top-Up

Tort

Total Loss

Travel Insurance

Turnover

U

Umbrella Liability

Under-Insurance

Underwriter

Underwriting

Underwriting Agency

Uninsurable Risks

Uninsured / Untraced Drivers

Unoccupancy

Unspecified Valuables

Utmost Good Faith

V

Valuations

Valued or Agreed Value Policy

Variable Charges

Void and Voidable

Voyage Policy

W

Waiting Period

Wakalah bil Ujrah

War Risks

Warehouse to Warehouse

Warranty

Wear and Tear

Whole Life Plan

With Average

Withdrawal

Worker’s (Workman’s) Compensation

Y

Yacht Insurance

York Antwerp Rules