Translate INSURANCE TERMS INTO ENGLISH
Here's your chance to brush up on what different business insurance terms mean. Just click on the group with the first letter of the term you're looking for...and we'll list the terms in that category. When you click on the term you want, we'll list the definition in the translation box.
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The purchase of insurance coverage inclusive of claim and loss control services.
The purchase of insurance coverage inclusive of claim and loss control services.
A method of self-insurance, which involves setting up a separate company to cover the risks of its parent company up to a predetermined amount of loss. Excess insurance is typically purchased to cover losses above that amount. A captive may be owned by a single company or by a group of companies.
A method of self-insurance, which involves setting up a separate company to cover the risks of its parent company up to a predetermined amount of loss. Excess insurance is typically purchased to cover losses above that amount. A captive may be owned by a single company or by a group of companies.
Insurance coverage that deals with injury to persons and legal liability imposed on an organization or individual for injuries to people or property.
Insurance coverage that deals with injury to persons and legal liability imposed on an organization or individual for injuries to people or property.
Property pledged as security for payment of a debt or performance of a contract.
Property pledged as security for payment of a debt or performance of a contract.
The amount of each loss that is paid by the policyholder.
The amount of each loss that is paid by the policyholder.
A written amendment to an insurance policy that changes the provisions of the contract to which it is attached.
A written amendment to an insurance policy that changes the provisions of the contract to which it is attached.
The study of how to arrange and design devices, machines, or workspaces so that people interact safely and efficiently with them.
The study of how to arrange and design devices, machines, or workspaces so that people interact safely and efficiently with them.
A way to compare costs between a guaranteed cost program which pays from the first dollar of loss to a specified amount and deductible, retro, or other program in which the policyholder pays for or retains a specified amount of each loss.
A way to compare costs between a guaranteed cost program which pays from the first dollar of loss to a specified amount and deductible, retro, or other program in which the policyholder pays for or retains a specified amount of each loss.
How often sicknesses or accidents occur in a given workplace setting.
How often sicknesses or accidents occur in a given workplace setting.
Rates for this type of coverage are fixed for the policy term and do not change based on losses. Premium is adjusted based on payroll, sales, number of units or other rating basis at the end of the term. May also refer to policies that pay losses from the first dollar.
Rates for this type of coverage are fixed for the policy term and do not change based on losses. Premium is adjusted based on payroll, sales, number of units or other rating basis at the end of the term. May also refer to policies that pay losses from the first dollar.
Funds set up by states to protect policyholders when an insurer becomes insolvent.
Funds set up by states to protect policyholders when an insurer becomes insolvent.
A type of retrospective rating plan in which premium is paid and adjusted based on losses actually incurred during the policy period. Incurred losses include actual paid amounts as well as reserves and expenses.
A type of retrospective rating plan in which premium is paid and adjusted based on losses actually incurred during the policy period. Incurred losses include actual paid amounts as well as reserves and expenses.
The science of monitoring occupational and environmental hazards, such as noise levels, ventilation rates, airborne contaminants, heat exposures, chemical agents and radiation doses.
The science of monitoring occupational and environmental hazards, such as noise levels, ventilation rates, airborne contaminants, heat exposures, chemical agents and radiation doses.
The definitions contained herein are for informational purposes only,are not intended to be all-inclusive, and may not apply in all situations. You should not rely on these definitions for interpretation of policy coverages, terms and conditions.