An individual who sells, services, or negotiates insurance policies either on behalf of a company or independently.
Person who identifies, examines and classifies the degree of risk represented by a proposed insured in order to determine whether or not coverage should be provided and, if so, at what rate.
A binding dispute resolution tactic whereby a conciliator with no interest in the outcome intercedes.
Uncertainty concerning the possibility of loss by a peril for which insurance is pursued.
Financial obligations or debts, owed by a company to another entity, usually the policy holder in the case of an insurer.
Abbreviation for losses that have occurred but have not yet been reported to the insurer.
A reinsurance agreement between the ceding company and reinsurer.
The process of selecting insureds, pricing, coverage, determining insurance policy terms and conditions.
Any personal property affixed to real property in such a way as to become part of the real property.
An individual who sells, services, or negotiates insurance policies either on behalf of a company or independently.
The process insurers use to calculate insurance rates, which are a premium component.
A transaction between a primary insurer and another licensed (re)insurer where the reinsurer agrees to cover all or part of the losses and/or loss adjustment expenses of the primary insurer.
A person who investigates claims and recommends settlement options based on estimates of damage and insurance policies held.
The _______ ratio which measures losses and loss adjustment expenses against earned premiums and reflects the percentage of premiums being consumed by losses.
Failure to exercise reasonable consideration resulting in loss or damage to oneself or others.
Abbreviation for an estimate of the claims settlement associated with a particular claim or claims
Company assuming reinsurance risk
The ________ ratio indicates profitability.
Value recoverable after a loss.
A party that makes a claim.
Abbreviation for the expense that an insurer incurs to investigate, defend, and settle claims according to the terms specified in the insurance policy.
Abbreviation for a policy that covers two or more lines of business by combining ISO's commercial lines coverage parts.
the price per exposure unit for insurance coverage