#Lingo marine inc. professional
(In Life and Health) this document would be called an "Actuarial Memorandum."Īctuary - business professional who analyzes probabilities of risk and risk management including calculation of premiums, dividends and other applicable insurance industry standards.Īdjuster - a person who investigates claims and recommends settlement options based on estimates of damage and insurance policies held.Īdmission - hospital inpatient care for any medical condition.Īdmitted Assets - insurer assets which can be valued and included on the balance sheet to determine financial viability of the company.Īdmitted Company - an insurance company licensed to do business in a state(s), domiciled in an alternative state or country.Īdvance Premiums - occur when a policy has been processed, and the premium has been paid prior to the effective date. Types of coverage include student accident, sports accident, travel accident, blanket accident, specific accident or accidental death and dismemberment (AD&D).Īccidental Bodily Injury - unexpected injury to a person.Īccidental Death & Dismemberment - an insurance contract that pays a stated benefit in the event of death and/or dismemberment caused by accident or specified kinds of accidents.Īccumulation Period - period of time insured must incur eligible medical expenses at least equal to the deductible amount in order to establish a benefit period under a major medical expense or comprehensive medical expense policy.Īctual Cash Value - repayment value for indemnification due to loss or damage of property in most cases it is replacement cost minus depreciationĪctuarial Report - (PC Insurance)a document or other presentation, prepared as a formal means of conveying to the state regulatory authority and the Board of Directors, or its equivalent, the actuary's professional conclusions and recommendations, of recording and communicating the methods and procedures, of assuring that the parties addressed are aware of the significance of the actuary's opinion or findings and that documents the analysis underlying the opinion. (Click on the letter to view terms beginning with that alphabet.) 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 | ZĪccident - an unexpected event or circumstance without deliberate intent.Īccident Insurance - insurance for unforeseen bodily injury.Īccident Only - an insurance contract that provides coverage, singly or in combination, for death, dismemberment, disability, or hospital and medical care caused by or necessitated as a result of accident or specified kinds of accident.Īccident Only or AD&D - policies providing coverage, singly or in combination, for death, dismemberment, disability, or hospital and medical care caused by or necessitated as a result of accident or specified kinds of accidents. Some words and/or phrases may be defined differently by other entities, or used in a context such that the definition shown may not be applicable. These definitions represent a common or general use of the term. The definitions in this glossary are developed by the NAIC Research and Actuarial Department staff based on various insurance references.
New terms will be added to the glossary over time.
This page provides a glossary of insurance terms and definitions that are commonly used in the insurance business.
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