DOCUMENT
Insurance Industry Glossary
552 definitions by Internal Revenue Service

Accidental Death BenefitAccident and health contractsAccrual BasisAccrual of Discount on BondsAcquisition CostsAct of GodActual (Cash) ValueActuaryAdditional InterestAdditional Living Expenses ClauseAdditional ReservesAdjusted PremiumAdjusterAdmitted AssetsAdvance PremiumsAdverse DeviationAdverse SelectionAdvisory ScheduleAge at IssueAge Nearest BirthdayAgentAgent, ResidenceAgents BalancesAgent, Special field manAggregate Excess of LossAggregate LimitAlien CompanyAlternative Minimum TaxAlternative Minimum Taxable IncomeAmerican Agency SystemAmerican Experience TableAmortization of Premiums on BondsAmortized BasisAmount of RiskAnnual PremiumAnnuityAnnuity CertainAnnuity, VariableAppeal BondApplicationApportionmentAppraisal ClauseAppraisedArbitration ClauseArgus ChartsAssessmentAssessment CompaniesAssetsAsset Valuation ReserveAssigned Risk PoolsAssignmentAssumption ReinsuranceAssuredAttorney in factAuditAudited PolicyAudit, InterimAuthorizationAuthorized CompanyAutomatic CoverageAutomatic Premium LoanAutomatic ReinsuranceAutomatic TreatyAverage Mutual Earnings RateAverage RateBaileeBailorBalances Charged offBalancing AccountBasic PremiumBeneficiaryBenefit CertificateBenefitsBestsBillingBinderBlankBlanket Coverage, DealersBlock of BusinessBoards, Bureaus, CommissionsBodily Injury LiabilityBond, BailBond, FidelityBond, SecurityBordereauBorder-Line RiskBrokerBuilding RateBusiness Activity TestBusiness Interruption InsuranceCalendar-Accident Year BasisCalendar-Year BasisCall PriceCanceled PoliciesCancellationCancellation, FlatCancellation, Pro RataCancellation RewriteCancellation, Short RateCaptive Insurance CompanyCarrierCarrier, NonparticipatingCarrier, ParticipatingCasualty InsuranceCatastrophe CoverCedeCeding companyCertificateCessionCivil Authority ClauseClaimClaimClaimantClaim expensesClaims (Losses)Claims-Made Medical Malpractice InsuranceClassificationClauseCodingCoinsuranceCoinsurerCOLICollisionCollusionCombination FormCommissionCommission, contingentCommissioner’s Reserve Valuation MethodCommitment FeesCompensationComprehensive CoverageComprehensive LiabilityConcurrent insuranceConditionConsequential LossContents RateContingency ReserveContingent CommissionContingent LiabilityContinuity of Coverage ClauseContractual LiabilityContributory NegligenceConvention FormConversionConversion (Group Insurance)Corporate FormCountersignatureCoverageCredibility of Loss ExperienceCredit Life InsuranceCurtate Reserve FactorsDaily ReportDays of Grace (Grace Period)Dean Snalytic ScheduleDeath ClaimDeath Rate (Mortality Rate)DeclarationsDeductible ClauseDeferred AnnuityDeferred Group AnnuityDeferred PremiumDeficiency ReserveDeposit Administration ContractsDirect PremiumsDirect Writing CarrierDisabilityDiscountDiscounted PremiumDiscovery PeriodDividendDomestic CompanyDouble IndemnityDraftDrive Other Automobiles CoverageEarned Income Tax CreditEarned PremiumEffective DateEITC RecertificationEmbezzlementEndorsementEndowmentEndowment InsuranceEquity BaseEquity RatingErrors and Omissions ClauseExcess InterestExcess InterestExcess LimitsExcess of Loss TreatyExclusionExclusionExclusion ClauseExpense ConstantExpense RatioExperienceExperience Rated RefundExpiration DateExposureExtended Coverage EndorsementExtra Expense CoverageFaceFace SheetFacultative ReinsuranceFAIR PlansFiduciaryFieldFinancial Accounting Standards BoardFinancial Responsibility LawFinders FeeFire CoveragesFire Department Service ClauseFirst Surplus Reinsurance TreatyFloaterFollowing the FortunesFormForm FileFraternal InsuranceFraudFronting ArrangementFull Preliminary TermGainsGainsGarage Liability InsuranceGeneral AgentGeneral AverageGoverning ClassificationGrace PeriodGraded Death BenefitGross LineGross Losses PaidGross Loss Expense, AllocatedGross PremiumGross Premium ReserveGroup Disability InsuranceGroup InsuranceGroup Life InsuranceGroup Permanent InsuranceGroup Term InsuranceGuaranteed Renewable PolicyGuarantyGuaranty FundHazardHazard, MoralHazard, PhysicalHired Card PolicyHome OfficeHome Office CopyHull InsuranceIncome Disability BenefitIncome InsuranceIncontestable ClauseIncurred But Not ReportedIncurred LossesIncurred Loss RatioIndemnityIndemnity ReinsuranceIndemnity ReleaseIndependent ContractorIndustrial Life InsuranceIn ForceInitial OptionInitial PremiumInitial ReserveIn KindInsolvency ClauseInsolvency ClauseInspection ReportInstallment PremiumsInsurable InterestInsurable ValueInsuranceInsurance Company TestInsurance ReservesInsurance ReservesInsuredInsuring AgreementIntangible Assets at PurchaseInterest Maintenance ReserveInterinsurersIntermediaryInureInvestment ExpensesInvestment YieldInviteeIrregular PremiumsIrrevocable BeneficiaryIssue AgeIssue DateLapsed PolicyLapse RateLarcenyLedger AssetsLegal LiabilityLegal Reserve CompanyLevel PremiumLiabilities, LedgerLiabilities, NonledgerLiability InsuranceLife AnnuityLife ExpectancyLife insuranceLimited Payment Life InsuranceLimit of LiabilityLimit of LiabilityLimits, ExcessLimits, policyLimits, policyLimits, StandardLine LimitLine LimitLine SheetLoadingLoanLong-Term Care ProductsLossLoss ConstantLoss Conversion FactorLosses From LapseLosses from LoadingLosses from Mortality; Annuities and Supplementary Contracts Involving Life contingenciesLosses IncurredLosses Incurred, Calendar-Year BasisLosses incurred, Policy-Year BasisLosses OutstandingLosses PaidLoss ExpenseLoss expense, AllocatedLoss Expense, UnallocatedLoss FilesLoss Payable ClauseLoss RatioLoss Ratio, Incurred BasisLoss Ratio, Paid BasisLoss ReserveMajor MedicalManual RateMarine, InlandMarine, OceanMaster PolicyMaturityMean ReserveMedical Payments, AutomobileMerit RatingMid-Terminal ReserveMinimum PremiumMisdeliveryModified CoinsuranceModified Preliminary Term PlanModified Preliminary Term ReserveMonthly Income Disability BenefitMorbidityMorbidity TableMortality CostMortality RatioMortality TableMortgage Protection InsuranceMortgage Servicing AgentMutual Benefit AssociationsMutual CompanyNamed InsuredNational Association of Insurance CommissionersNegligenceNet Amount at RiskNet Investment IncomeNet Level ReserveNet LossesNet Loss ExpenseNet PremiumNet RateNew BusinessNinety-Day ItemsNonadmitted AssetNoncancelable Accident and Health PolicyNonforfeiture ProvisionsNonforfeiture Values (Options)Nonledger AssetsNonliquidating LiquidationsNonparticipating InsuranceNonvalued FormOccupational RatingOccurrence Coverage Medical Malpractice InsuranceOffice, BranchOmnibus CoverageOptional SettlementPackage PoliciesPaid-up AdditionsPaid-up InsurancePaid-Up OptionParticipating InsurancePayroll Deduction InsurancePenaltiesPerilsPolicyPolicy DatePolicy DividendsPolicyholderPolicy LoansPolicy PeriodPolicy Reserve StrengtheningPolicy YearPolicy-Year BasisPreliminary Term ReservePremiumPremium, AdditionalPremium, AdditionalPremium, EarnedPremium, EstimatedPremium LoanPremium NotesPremium, OriginalPremium Payor ReservePremium, PresentPremium, ReturnPremiums, GrossPremiums, NetPremiums, OutstandingPremiums, UnearnedPremiums WrittenPremium TaxPremium, YearlyPrevailing Commissioner’s Standard Tables for Mortality and MorbidityPrevailing State assumed Interest RatePrimary BeneficiaryPrincipal SumProduct Liability InsuranceProhibitive RiskProof of LossProperty Damage InsuranceProperty InsuranceProspective ReserveProtectionProtective Liability InsurancePurchaser InsurancePure EndowmentPure PremiumsQuota Share ReinsuranceQuotationRateRate, AdjustedRate ReductionRatingRating BureausRating, ExperienceRating, RetrospectiveRating ScheduleReal Estate ExpenseRebatingRedatingReduced Paid-up InsuranceReinstatementReinsurance CededReinsurance, IndemnityReinsurance PremiumReinsurance RecoverablesReinsurance TreatiesReinsurance Treaty, AutomaticReinsurance Treaty, AutomaticReleaseRenewal Policy-RenewalRenewal PremiumsRentRental Value InsuranceReporting Form PoliciesReserveReserve BasisReserve for Nondeduction of Deferred fractional PremiumsRetentionRetroactive RestorationRetrocessionRetrospective RefundRetrospective ReserveRiderRiskSalvageScheduleSchedule PolicySecond SurplusSelect and Ultimate MortalitySelect MortalitySeparate AccountsSettlement DividendSettlement OptionShell Insurance CompaniesShort-Term PolicySingle PremiumSpecial RatingSplit Policy YearSpread Loss Reinsurance TreatyStandard Industrial Mortality TableStandard Nonforfeiture LawStandard ProvisionsStandard Valuation LawState Fund, CompetitiveState Fund, MonopolisticStatement of Reserve Calculation MethodStipulated Premium Life InsuranceStock Insurance CompanyStock Life InsuranceStop Loss Reinsurance TreatySubrogationSubstandard InsuranceSubstitution of InsuredSuicide ClauseSupplementary AgreementSurplus DebentureSurplus to PolicyholdersSurrenderSurrenderSurrender ChargeSurrender DividendSurrendered CostSurrender ValueSuspensionTabular Cost of InsuranceTentative Life Insurance Company Taxable Income (Tentative LICTI)TermTerminal ReserveTermination DividendTerm InsuranceTest AuditThird Party (Under a Liability Insurance Policy)Total and Permanent DisabilityTotal LossTransactionTreatyTwistingUnauthorized CompanyUnauthorized InsuranceUncollected and Deferred PremiumsUnderlyingUnderwriteUnderwriterUnderwriting ExpensesUnderwriting ProfitUnearned PremiumUnearned Premium ReserveUninsured Motorist CoverageUnpaid Loss ExpenseUnreported ClaimUse and Occupancy InsuranceValuationValued PolicyVariable AnnuityVariable Life InsuranceVested CommissionsWaiver of PremiumWar ClauseWarrantyWhole Life InsuranceWholesale InsuranceYearly Renewable Term InsuranceYield
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Date
2002-05-29
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