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[[Definition:UnderwritingArtificial intelligence (AI)]]
[[Definition:UnderwritingMachine authoritylearning (ML)]]
[[Definition:UnderwritingDeep guidelinelearning]]
[[Definition:UnderwritingNatural capacitylanguage processing (NLP)]]
[[Definition:UnderwritingComputer cyclevision]]
[[Definition:Underwriting profit]]
[[Definition:Underwriting loss]]
[[Definition:Underwriting result]]
[[Definition:Underwriting year]]
[[Definition:Underwriting risk]]
[[Definition:Underwriting appetite]]
[[Definition:Underwriting strategy]]
[[Definition:Underwriting discipline]]
[[Definition:Underwriting philosophy]]
[[Definition:Underwriting manual]]
[[Definition:Underwriting limit]]
[[Definition:Underwriting submission]]
[[Definition:Underwriting referral]]
[[Definition:Underwriting review]]
[[Definition:Underwriting audit]]
[[Definition:Underwriting peer review]]
[[Definition:Underwriting file]]
[[Definition:Underwriting memorandum]]
[[Definition:Underwriting agreement]]
[[Definition:Underwriting expense]]
[[Definition:Underwriting margin]]
[[Definition:Underwriting income]]
[[Definition:Underwriting leverage]]
[[Definition:Underwriting portfolio]]
[[Definition:Underwriting performance]]
[[Definition:Underwriting criteria]]
[[Definition:Underwriting information]]
[[Definition:Underwriting decision]]
[[Definition:Underwriting authority framework]]
[[Definition:Underwriting control]]
[[Definition:Underwriting governance]]
[[Definition:Underwriting oversight]]
[[Definition:Underwriting delegation]]
[[Definition:Underwriting quality assurance]]
[[Definition:Underwriting exception]]
[[Definition:Underwriting deviation]]
[[Definition:Underwriting benchmark]]
[[Definition:Underwriting process]]
[[Definition:Underwriting workflow]]
[[Definition:Underwriting triage]]
[[Definition:Underwriting clearance]]
[[Definition:Underwriting sign-off]]
[[Definition:Risk assessment]]
[[Definition:Risk selection]]
[[Definition:Risk classification]]
[[Definition:Risk evaluation]]
[[Definition:Risk appetite]]
[[Definition:Risk appetite statement]]
[[Definition:Risk tolerance]]
[[Definition:Risk acceptance]]
[[Definition:Risk declination]]
[[Definition:Risk profile]]
[[Definition:Risk scoring]]
[[Definition:Risk grading]]
[[Definition:Risk rating]]
[[Definition:Risk segmentation]]
[[Definition:Risk differentiation]]
[[Definition:Risk factor]]
[[Definition:Risk indicator]]
[[Definition:Risk characteristic]]
[[Definition:Risk survey]]
[[Definition:Risk inspection]]
[[Definition:Risk engineering]]
[[Definition:Risk improvement]]
[[Definition:Risk improvement recommendation]]
[[Definition:Risk mitigation]]
[[Definition:Risk transfer]]
[[Definition:Risk retention]]
[[Definition:Risk aggregation]]
[[Definition:Risk accumulation]]
[[Definition:Risk concentration]]
[[Definition:Risk correlation]]
[[Definition:Risk exposure]]
[[Definition:Risk mapping]]
[[Definition:Hazard identification]]
[[Definition:Moral hazard]]
[[Definition:Morale hazard]]
[[Definition:Physical hazard]]
[[Definition:Loss exposure]]
[[Definition:Exposure analysis]]
[[Definition:Exposure management]]
[[Definition:Exposure monitoring]]
[[Definition:Aggregate exposure]]
[[Definition:Probable maximum loss (PML)]]
[[Definition:Maximum possible loss (MPL)]]
[[Definition:Estimated maximum loss (EML)]]
[[Definition:Normal loss expectancy (NLE)]]
[[Definition:Maximum foreseeable loss (MFL)]]
[[Definition:Expected loss]]
[[Definition:Loss expectancy]]
[[Definition:Catastrophe exposure]]
[[Definition:Natural catastrophe risk (nat cat)]]
[[Definition:Man-made catastrophe risk]]
[[Definition:Catastrophe modelling]]
[[Definition:Catastrophe model]]
[[Definition:Return period]]
[[Definition:Probable maximum loss curve]]
[[Definition:Exceedance probability curve]]
[[Definition:Aggregate exceedance probability (AEP)]]
[[Definition:Occurrence exceedance probability (OEP)]]
[[Definition:Average annual loss (AAL)]]
[[Definition:Tail value at risk (TVaR)]]
[[Definition:Value at risk (VaR)]]
[[Definition:Stochastic modelling]]
[[Definition:Deterministic scenario]]
[[Definition:Realistic disaster scenario (RDS)]]
[[Definition:Stress test]]
[[Definition:Scenario analysis]]
[[Definition:Accumulation control]]
[[Definition:Clash risk]]
[[Definition:Premium]]
[[Definition:Gross written premium (GWP)]]
[[Definition:Net written premium (NWP)]]
[[Definition:Gross earned premium (GEP)]]
[[Definition:Net earned premium (NEP)]]
[[Definition:Unearned premium]]
[[Definition:Unearned premium reserve (UPR)]]
[[Definition:Earned premium]]
[[Definition:Written premium]]
[[Definition:Premium income]]
[[Definition:Premium volume]]
[[Definition:Premium rate]]
[[Definition:Premium rating]]
[[Definition:Rate adequacy]]
[[Definition:Rate level]]
[[Definition:Rate change]]
[[Definition:Rate increase]]
[[Definition:Rate reduction]]
[[Definition:Rate hardening]]
[[Definition:Rate softening]]
[[Definition:Rating factor]]
[[Definition:Rating algorithm]]
[[Definition:Rating model]]
[[Definition:Rating table]]
[[Definition:Rating basis]]
[[Definition:Rating class]]
[[Definition:Rating plan]]
[[Definition:Base rate]]
[[Definition:Base premium]]
[[Definition:Technical rate]]
[[Definition:Technical price]]
[[Definition:Technical premium]]
[[Definition:Manual rate]]
[[Definition:Indicated rate]]
[[Definition:Target rate]]
[[Definition:Minimum premium]]
[[Definition:Deposit premium]]
[[Definition:Adjustable premium]]
[[Definition:Provisional premium]]
[[Definition:Flat premium]]
[[Definition:Annual premium]]
[[Definition:Additional premium]]
[[Definition:Return premium]]
[[Definition:Reinstatement premium]]
[[Definition:Short-rate premium]]
[[Definition:Pro rata premium]]
[[Definition:Minimum and deposit premium (M&D)]]
[[Definition:Burning cost]]
[[Definition:Burning cost ratio]]
[[Definition:Experience rating]]
[[Definition:Exposure rating]]
[[Definition:Schedule rating]]
[[Definition:Judgement rating (also judgment rating)]]
[[Definition:Community rating]]
[[Definition:Merit rating]]
[[Definition:Retrospective rating]]
[[Definition:Prospective rating]]
[[Definition:Composite rating]]
[[Definition:Class rating]]
[[Definition:Individual risk rating]]
[[Definition:Loss rating]]
[[Definition:Credibility weighting]]
[[Definition:Credibility factor]]
[[Definition:Actuarial pricing]]
[[Definition:Actuarial analysis]]
[[Definition:Loss cost]]
[[Definition:Pure premium]]
[[Definition:Risk premium]]
[[Definition:Loaded premium]]
[[Definition:Loading]]
[[Definition:Expense loading]]
[[Definition:Catastrophe loading]]
[[Definition:Profit loading]]
[[Definition:Contingency loading]]
[[Definition:Loss ratio (L/R)]]
[[Definition:Incurred loss ratio]]
[[Definition:Ultimate loss ratio]]
[[Definition:Attritional loss ratio]]
[[Definition:Expected loss ratio (ELR)]]
[[Definition:Expense ratio]]
[[Definition:Combined ratio]]
[[Definition:Combined operating ratio]]
[[Definition:Operating ratio]]
[[Definition:Commission ratio]]
[[Definition:Acquisition cost ratio]]
[[Definition:Net loss ratio]]
[[Definition:Gross loss ratio]]
[[Definition:Loss development]]
[[Definition:Loss development factor (LDF)]]
[[Definition:Loss triangle]]
[[Definition:Incurred but not reported reserve (IBNR)]]
[[Definition:Large loss]]
[[Definition:Attritional loss]]
[[Definition:Frequency]]
[[Definition:Severity]]
[[Definition:Loss frequency]]
[[Definition:Loss severity]]
[[Definition:Loss trend]]
[[Definition:Loss volatility]]
[[Definition:Loss history]]
[[Definition:Loss experience]]
[[Definition:Claims experience]]
[[Definition:Loss record]]
[[Definition:Bordereau]]
[[Definition:Premium bordereau]]
[[Definition:Claims bordereau]]
[[Definition:Policy]]
[[Definition:Insurance policy]]
[[Definition:Policy form]]
[[Definition:Policy wording]]
[[Definition:Policy condition]]
[[Definition:Policy term]]
[[Definition:Policy period]]
[[Definition:Policy inception]]
[[Definition:Policy expiry]]
[[Definition:Policy limit]]
[[Definition:Limit of liability]]
[[Definition:Limit of indemnity]]
[[Definition:Aggregate limit]]
[[Definition:Per occurrence limit]]
[[Definition:Per claim limit]]
[[Definition:Annual aggregate limit]]
[[Definition:Sublimit]]
[[Definition:Inner limit]]
[[Definition:Combined single limit (CSL)]]
[[Definition:Split limit]]
[[Definition:Blanket limit]]
[[Definition:Shared limit]]
[[Definition:Excess of loss]]
[[Definition:Excess point]]
[[Definition:Attachment point]]
[[Definition:Self-insured retention (SIR)]]
[[Definition:Deductible]]
[[Definition:Aggregate deductible]]
[[Definition:Per occurrence deductible]]
[[Definition:Franchise deductible]]
[[Definition:Waiting period (also elimination period)]]
[[Definition:Retention]]
[[Definition:Net retention]]
[[Definition:Co-insurance]]
[[Definition:Co-insurance clause]]
[[Definition:Average clause]]
[[Definition:Condition of average]]
[[Definition:Indemnity]]
[[Definition:Principle of indemnity]]
[[Definition:Sum insured]]
[[Definition:Insurable value]]
[[Definition:Agreed value]]
[[Definition:Replacement value]]
[[Definition:Actual cash value]]
[[Definition:Market value]]
[[Definition:First loss]]
[[Definition:Total loss]]
[[Definition:Partial loss]]
[[Definition:Constructive total loss]]
[[Definition:Under-insurance]]
[[Definition:Over-insurance]]
[[Definition:Insurable interest]]
[[Definition:Utmost good faith (uberrima fides)]]
[[Definition:Duty of disclosure]]
[[Definition:Material fact]]
[[Definition:Material misrepresentation]]
[[Definition:Non-disclosure]]
[[Definition:Warranty]]
[[Definition:Condition precedent]]
[[Definition:Subrogation]]
[[Definition:Contribution]]
[[Definition:Proximate cause]]
[[Definition:Fortuitous event]]
[[Definition:Peril]]
[[Definition:Named peril]]
[[Definition:All-risk coverage (also all-risks)]]
[[Definition:Exclusion]]
[[Definition:Exclusion clause]]
[[Definition:General exclusion]]
[[Definition:Specific exclusion]]
[[Definition:Absolute exclusion]]
[[Definition:Standard exclusion]]
[[Definition:War exclusion]]
[[Definition:Terrorism exclusion]]
[[Definition:Nuclear exclusion]]
[[Definition:Cyber exclusion]]
[[Definition:Pollution exclusion]]
[[Definition:Communicable disease exclusion]]
[[Definition:Pandemic exclusion]]
[[Definition:Sanction exclusion]]
[[Definition:Sanction limitation and exclusion clause (SLEC)]]
[[Definition:Asbestos exclusion]]
[[Definition:Wear and tear exclusion]]
[[Definition:Gradual deterioration exclusion]]
[[Definition:Endorsement (also rider)]]
[[Definition:Policy endorsement]]
[[Definition:Extension]]
[[Definition:Extension of coverage]]
[[Definition:Coverage extension]]
[[Definition:Broadening endorsement]]
[[Definition:Restrictive endorsement]]
[[Definition:Manuscript endorsement]]
[[Definition:Standard endorsement]]
[[Definition:Coverage]]
[[Definition:Scope of coverage]]
[[Definition:Coverage grant]]
[[Definition:Coverage trigger]]
[[Definition:Coverage part]]
[[Definition:Coverage territory]]
[[Definition:Territorial scope]]
[[Definition:Worldwide coverage]]
[[Definition:Jurisdiction clause]]
[[Definition:Choice of law clause]]
[[Definition:Arbitration clause]]
[[Definition:Service of suit clause]]
[[Definition:Claims-made coverage]]
[[Definition:Claims-made and reported]]
[[Definition:Occurrence-based coverage]]
[[Definition:Discovery period]]
[[Definition:Extended reporting period (ERP)]]
[[Definition:Retroactive date]]
[[Definition:Prior acts coverage]]
[[Definition:Sunset clause]]
[[Definition:Losses occurring basis]]
[[Definition:Risks attaching basis]]
[[Definition:Claims-made basis]]
[[Definition:Inception date]]
[[Definition:Expiration date]]
[[Definition:Continuous coverage]]
[[Definition:Renewal]]
[[Definition:Policy renewal]]
[[Definition:Renewal terms]]
[[Definition:Renewal retention]]
[[Definition:Non-renewal]]
[[Definition:Cancellation]]
[[Definition:Mid-term cancellation]]
[[Definition:Flat cancellation]]
[[Definition:Short-rate cancellation]]
[[Definition:Pro rata cancellation]]
[[Definition:Notice of cancellation]]
[[Definition:Reinstatement]]
[[Definition:New business]]
[[Definition:New business submission]]
[[Definition:Renewal business]]
[[Definition:Quote]]
[[Definition:Quotation]]
[[Definition:Indication]]
[[Definition:Firm order]]
[[Definition:Binder]]
[[Definition:Cover note]]
[[Definition:Certificate of insurance]]
[[Definition:Declaration page]]
[[Definition:Schedule (policy schedule)]]
[[Definition:Proposal form]]
[[Definition:Application]]
[[Definition:Statement of fact]]
[[Definition:Warranty statement]]
[[Definition:Representation]]
[[Definition:Slip]]
[[Definition:Market reform contract (MRC)]]
[[Definition:Placing slip]]
[[Definition:Signing]]
[[Definition:Closing]]
[[Definition:Line]]
[[Definition:Signed line]]
[[Definition:Written line]]
[[Definition:Lead line]]
[[Definition:Lead underwriter]]
[[Definition:Following underwriter]]
[[Definition:Following market]]
[[Definition:Subscription market]]
[[Definition:Co-lead]]
[[Definition:Stamp]]
[[Definition:Scratch]]
[[Definition:Firm order terms (FOT)]]
[[Definition:Gross line]]
[[Definition:Net line]]
[[Definition:Vertical placement]]
[[Definition:Horizontal placement]]
[[Definition:Market placement]]
[[Definition:Oversubscription]]
[[Definition:Signing down]]
[[Definition:Bureau signing]]
[[Definition:Premium payment warranty clause]]
[[Definition:Premium payment condition]]
[[Definition:Broker]]
[[Definition:Insurance broker]]
[[Definition:Reinsurance broker]]
[[Definition:Placing broker]]
[[Definition:Producing broker]]
[[Definition:Wholesale broker]]
[[Definition:Lloyd's broker]]
[[Definition:Managing general agent (MGA)]]
[[Definition:Managing general underwriter (MGU)]]
[[Definition:Delegated underwriting authority (DUA)]]
[[Definition:Binding authority]]
[[Definition:Binding authority agreement (also binder agreement)]]
[[Definition:Coverholder]]
[[Definition:Third-party administrator (TPA)]]
[[Definition:Delegated authority]]
[[Definition:Delegated claims authority]]
[[Definition:Letter of authority (LOA)]]
[[Definition:Lineslip]]
[[Definition:Consortium]]
[[Definition:Facility]]
[[Definition:Programme (also program)]]
[[Definition:Treaty]]
[[Definition:Obligatory treaty]]
[[Definition:Facultative placement]]
[[Definition:Facultative obligatory treaty (fac-ob)]]
[[Definition:Proportional treaty]]
[[Definition:Non-proportional treaty]]
[[Definition:Quota share treaty]]
[[Definition:Surplus treaty]]
[[Definition:Excess of loss treaty (XoL)]]
[[Definition:Stop loss treaty (also aggregate stop loss)]]
[[Definition:Catastrophe excess of loss (cat XoL)]]
[[Definition:Per risk excess of loss]]
[[Definition:Per occurrence excess of loss]]
[[Definition:Reinsurance]]
[[Definition:Ceded reinsurance]]
[[Definition:Assumed reinsurance]]
[[Definition:Retrocession]]
[[Definition:Retrocessionaire]]
[[Definition:Cession]]
[[Definition:Ceding commission]]
[[Definition:Profit commission]]
[[Definition:Sliding scale commission]]
[[Definition:Override commission]]
[[Definition:Brokerage]]
[[Definition:Acquisition cost]]
[[Definition:Net cost]]
[[Definition:Reinsurance premium]]
[[Definition:Reinsurance rate]]
[[Definition:Reinsurance recovery]]
[[Definition:Reinsurance recoverables]]
[[Definition:Reinsurance security]]
[[Definition:Reinsurer credit risk]]
[[Definition:Reinsurance panel]]
[[Definition:Reinsurance programme]]
[[Definition:Layer]]
[[Definition:Layered programme]]
[[Definition:Primary layer]]
[[Definition:Working layer]]
[[Definition:Excess layer]]
[[Definition:Buffer layer]]
[[Definition:Catastrophe layer]]
[[Definition:Top and drop]]
[[Definition:Swing-rated cover]]
[[Definition:Loss corridor]]
[[Definition:Loss participation]]
[[Definition:Annual aggregate deductible (AAD)]]
[[Definition:Annual aggregate limit (AAL)]]
[[Definition:Reinstatement (reinsurance)]]
[[Definition:Reinstatement provision]]
[[Definition:Free reinstatement]]
[[Definition:Paid reinstatement]]
[[Definition:Hours clause]]
[[Definition:Occurrence definition]]
[[Definition:Event definition]]
[[Definition:Event limit]]
[[Definition:Indexation clause]]
[[Definition:Stability clause]]
[[Definition:Sunset clause (reinsurance)]]
[[Definition:Cut-through clause]]
[[Definition:Insolvency clause]]
[[Definition:Errors and omissions clause]]
[[Definition:Follow the fortunes]]
[[Definition:Follow the settlements]]
[[Definition:Losses occurring during]]
[[Definition:Risks attaching during]]
[[Definition:Class of business]]
[[Definition:Line of business (LoB)]]
[[Definition:Book of business]]
[[Definition:Portfolio]]
[[Definition:Portfolio transfer]]
[[Definition:Loss portfolio transfer (LPT)]]
[[Definition:Adverse development cover (ADC)]]
[[Definition:Run-off]]
[[Definition:Run-off portfolio]]
[[Definition:Novation]]
[[Definition:Commutation]]
[[Definition:Property insurance]]
[[Definition:Casualty insurance (also liability insurance)]]
[[Definition:General liability insurance]]
[[Definition:Professional liability insurance (also professional indemnity)]]
[[Definition:Directors and officers liability insurance (D&O)]]
[[Definition:Errors and omissions insurance (E&O)]]
[[Definition:Employers' liability insurance]]
[[Definition:Workers' compensation insurance]]
[[Definition:Product liability insurance]]
[[Definition:Public liability insurance]]
[[Definition:Commercial general liability (CGL)]]
[[Definition:Excess liability insurance]]
[[Definition:Umbrella liability insurance]]
[[Definition:Cyber liability insurance]]
[[Definition:Environmental liability insurance]]
[[Definition:Marine insurance]]
[[Definition:Hull insurance]]
[[Definition:Cargo insurance]]
[[Definition:Protection and indemnity insurance (P&I)]]
[[Definition:Aviation insurance]]
[[Definition:Energy insurance]]
[[Definition:Construction insurance]]
[[Definition:Engineering insurance]]
[[Definition:Contractor's all risks insurance (CAR)]]
[[Definition:Erection all risks insurance (EAR)]]
[[Definition:Delay in start-up insurance (DSU)]]
[[Definition:Advance loss of profits insurance (ALOP)]]
[[Definition:Business interruption insurance (BI)]]
[[Definition:Contingent business interruption insurance]]
[[Definition:Loss of profits insurance]]
[[Definition:Credit insurance]]
[[Definition:Surety bond]]
[[Definition:Trade credit insurance]]
[[Definition:Political risk insurance]]
[[Definition:Kidnap and ransom insurance (K&R)]]
[[Definition:Terrorism insurance]]
[[Definition:Motor insurance]]
[[Definition:Fleet insurance]]
[[Definition:Personal lines]]
[[Definition:Commercial lines]]
[[Definition:Specialty lines]]
[[Definition:Financial lines]]
[[Definition:Accident and health insurance (A&H)]]
[[Definition:Life insurance]]
[[Definition:Group insurance]]
[[Definition:Parametric insurance]]
[[Definition:Index-based insurance]]
[[Definition:Captive insurance]]
[[Definition:Captive insurer]]
[[Definition:Fronting]]
[[Definition:Fronting insurer]]
[[Definition:Fronting arrangement]]
[[Definition:Risk-bearing entity]]
[[Definition:Insured]]
[[Definition:Named insured]]
[[Definition:Additional insured]]
[[Definition:Policyholder]]
[[Definition:First named insured]]
[[Definition:Certificate holder]]
[[Definition:Loss payee]]
[[Definition:Beneficiary]]
[[Definition:Claimant]]
[[Definition:Third party]]
[[Definition:Insurer]]
[[Definition:Carrier]]
[[Definition:Underwriter]]
[[Definition:Primary insurer]]
[[Definition:Excess insurer]]
[[Definition:Surplus lines insurer (also non-admitted insurer)]]
[[Definition:Admitted insurer]]
[[Definition:Lloyd's of London]]
[[Definition:Lloyd's syndicate]]
[[Definition:Lloyd's managing agent]]
[[Definition:Syndicate]]
[[Definition:Insurance pool]]
[[Definition:Mutual insurer]]
[[Definition:Reciprocal exchange]]
[[Definition:Insurance company rating]]
[[Definition:Financial strength rating (FSR)]]
[[Definition:Credit rating (insurer)]]
[[Definition:Security rating]]
[[Definition:A.M. Best rating]]
[[Definition:Solvency]]
[[Definition:Solvency margin]]
[[Definition:Solvency capital requirement (SCR)]]
[[Definition:Minimum capital requirement (MCR)]]
[[Definition:Risk-based capital (RBC)]]
[[Definition:Own risk and solvency assessment (ORSA)]]
[[Definition:Capital adequacy]]
[[Definition:Regulatory capital]]
[[Definition:Economic capital]]
[[Definition:Technical provision]]
[[Definition:Reserve]]
[[Definition:Loss reserve]]
[[Definition:Premium reserve]]
[[Definition:Claims reserve]]
[[Definition:Catastrophe reserve]]
[[Definition:Equalisation reserve]]
[[Definition:Reserve adequacy]]
[[Definition:Reserve strengthening]]
[[Definition:Reserve release]]
[[Definition:Prior year reserve development]]
[[Definition:Adverse reserve development]]
[[Definition:Favourable reserve development]]
[[Definition:Reserving]]
[[Definition:Chain ladder method]]
[[Definition:Bornhuetter-Ferguson method]]
[[Definition:Cape Cod method]]
[[Definition:Frequency-severity method]]
[[Definition:Benchmark method]]
[[Definition:Tail factor]]
[[Definition:Development pattern]]
[[Definition:Ultimate loss]]
[[Definition:Loss pick]]
[[Definition:Initial expected loss ratio (IELR)]]
[[Definition:A priori loss ratio]]
[[Definition:Booked loss ratio]]
[[Definition:Paid loss]]
[[Definition:Incurred loss]]
[[Definition:Case reserve]]
[[Definition:Bulk reserve]]
[[Definition:Actuarial reserve]]
[[Definition:Underwriting reserve]]
[[Definition:Catastrophe bond (cat bond)]]
[[Definition:Insurance-linked security (ILS)]]
[[Definition:Industry loss warranty (ILW)]]
[[Definition:Sidecar]]
[[Definition:Special purpose vehicle (SPV)]]
[[Definition:Alternative risk transfer (ART)]]
[[Definition:Risk financing]]
[[Definition:Structured reinsurance]]
[[Definition:Finite reinsurance]]
[[Definition:Loss sensitive programme]]
[[Definition:Large deductible programme]]
[[Definition:Self-insurance]]
[[Definition:Self-insured retention]]
[[Definition:Risk pooling]]
[[Definition:Adverse selection]]
[[Definition:Anti-selection]]
[[Definition:Positive selection]]
[[Definition:Risk-based pricing]]
[[Definition:Actuarial fairness]]
[[Definition:Cross-subsidisation]]
[[Definition:Rate filing]]
[[Definition:Rate regulation]]
[[Definition:Tariff rate]]
[[Definition:Freedom of rate]]
[[Definition:De-tariffication]]
[[Definition:Market conduct]]
[[Definition:Treating customers fairly (TCF)]]
[[Definition:Fair value]]
[[Definition:Pricing model]]
[[Definition:Generalised linear model (GLM)]]
[[Definition:Predictive model]]
[[Definition:Predictive analytics]]
[[Definition:MachinePredictive learning model (underwriting)modelling]]
[[Definition:Algorithmic underwriting]]
[[Definition:Automated underwritingclaims processing]]
[[Definition:Straight-throughFraud processing (STP)detection]]
[[Definition:AutomatedOptical decisioncharacter recognition (OCR)]]
[[Definition:ReferralRobotic ruleprocess automation (RPA)]]
[[Definition:Underwriting rule engineChatbot]]
[[Definition:DataLarge enrichmentlanguage model (LLM)]]
[[Definition:Third-partyGenerative dataartificial intelligence (GenAI)]]
[[Definition:Neural network]]
[[Definition:Supervised learning]]
[[Definition:Unsupervised learning]]
[[Definition:Training data]]
[[Definition:Algorithmic bias]]
[[Definition:Explainability]]
[[Definition:Black box model]]
[[Definition:Model validation]]
[[Definition:Telematics]]
[[Definition:InternetSentiment of things (IoT) dataanalysis]]
[[Definition:Pre-bindDecision risk assessmenttree]]
[[Definition:Post-bindData reviewmining]]
[[Definition:MidStraight-termthrough adjustmentprocessing (MTASTP)]]
[[Definition:PolicyIntelligent amendmentdocument processing (IDP)]]
[[Definition:PremiumDigital adjustmenttwin]]
[[Definition:Premium audit]]
[[Definition:Declared value]]
[[Definition:Adjustable policy]]
[[Definition:ReportingRequest formfor policyproposal (RFP)]]
[[Definition:ManuscriptRequest policyfor information (RFI)]]
[[Definition:StandardRequest formfor policyquotation (RFQ)]]
[[Definition:PackageVendor policymanagement]]
[[Definition:MonolineThird-party policyrisk management (TPRM)]]
[[Definition:MultilineService policylevel agreement (SLA)]]
[[Definition:Wrap-upKey policyperformance indicator (KPI)]]
[[Definition:MasterDue policydiligence]]
[[Definition:Difference in conditions (DIC)Outsourcing]]
[[Definition:Difference in limits (DIL)Insourcing]]
[[Definition:FollowPreferred formsupplier]]
[[Definition:Non-admittedSupplier coverageevaluation]]
[[Definition:AdmittedTotal coveragecost of ownership (TCO)]]
[[Definition:SurplusProcurement lineslifecycle]]
[[Definition:FreedomContract of servicesmanagement]]
[[Definition:PassportingMaster service agreement (MSA)]]
[[Definition:LicensedStatement insurerof work (SOW)]]
[[Definition:AuthorisedSpend insureranalysis]]
[[Definition:RegulationCategory management]]
[[Definition:InsuranceStrategic regulationsourcing]]
[[Definition:PrudentialCompetitive regulationtendering]]
[[Definition:ConductVendor regulationlock-in]]
[[Definition:Insurance supervisory authoritySubcontracting]]
[[Definition:SolvencyNon-disclosure IIagreement (NDA)]]
[[Definition:InternationalPurchase financial reporting standard 17order (IFRS 17PO)]]
[[Definition:International Association of Insurance SupervisorsProcure-to-pay (IAISP2P)]]
[[Definition:InsuranceSupplier core principle (ICP)onboarding]]
[[Definition:Hard market]]
[[Definition:Soft market]]
[[Definition:Market cycle]]
[[Definition:Capacity]]
[[Definition:Market capacity]]
[[Definition:Capacity constraint]]
[[Definition:Capacity deployment]]
[[Definition:Risk-adjusted return on capital (RAROC)]]
[[Definition:Return on equity (ROE)]]
[[Definition:Return on capital]]
[[Definition:Cost of capital]]
[[Definition:Capital allocation]]
[[Definition:Portfolio optimisation]]
[[Definition:Portfolio management]]
[[Definition:Portfolio mix]]
[[Definition:Portfolio steering]]
[[Definition:Growth strategy]]
[[Definition:Remediation]]
[[Definition:Book remediation]]
[[Definition:Rate monitoring]]
[[Definition:Rate index]]
[[Definition:Benchmarking]]
[[Definition:PeerTail analysisspend]]
[[Definition:MarketBusiness sharecontinuity planning (BCP)]]
[[Definition:CompetitiveSole intelligencesourcing]]
[[Definition:TermsSingle and conditionssourcing]]
[[Definition:Coverage termsMulti-sourcing]]
[[Definition:Policy termsNearshoring]]
[[Definition:Broad formOffshoring]]
[[Definition:Narrow formOnshoring]]
[[Definition:RestrictiveManaged termsservice provider (MSP)]]
[[Definition:TighteningBusiness ofprocess termsoutsourcing (BPO)]]
[[Definition:LiberalisationInformation oftechnology termsoutsourcing (ITO)]]
[[Definition:WarrantyVendor (policy warranty)consolidation]]
[[Definition:ConditionSupplier (policy condition)diversity]]
[[Definition:ObligationFramework agreement]]
[[Definition:DutyBlanket ofpurchase careagreement (BPA)]]
[[Definition:DutyRate to defendcard]]
[[Definition:DutyCost-benefit toanalysis indemnify(CBA)]]
[[Definition:NotificationReturn requirementon investment (ROI)]]
[[Definition:ClaimsValue notificationfor clausemoney (VFM)]]
[[Definition:ClaimsNegotiation cooperation clausestrategy]]
[[Definition:SubrogationBest clauseand final offer (BAFO)]]
[[Definition:OtherInvitation insuranceto clausetender (ITT)]]
[[Definition:Non-vitiationEvaluation clausecriteria]]
[[Definition:SeverabilityWeighted clausescoring model]]
[[Definition:Cross-liabilityProof clauseof concept (POC)]]
[[Definition:JointPilot insured clauseprogramme]]
[[Definition:WaiverVendor ofrisk subrogationassessment]]
[[Definition:HoldSupplier harmless clausescorecard]]
[[Definition:ContractualContract liabilityrenewal]]
[[Definition:AssumedAuto-renewal liabilityclause]]
[[Definition:AdditionalTermination insuredfor endorsementconvenience]]
[[Definition:PrimaryExit and non-contributory endorsementstrategy]]
[[Definition:LossTransition payee clauseplan]]
[[Definition:BrokerChange of recordcontrol]]
[[Definition:BrokerScope of record lettercreep]]
[[Definition:PolicyholderEscalation dutyprocedure]]
[[Definition:GoodGovernance faithframework]]
[[Definition:MisrepresentationSteering committee]]
[[Definition:FraudStakeholder management]]
[[Definition:InsuranceDemand fraudmanagement]]
[[Definition:Material change in riskSpecification]]
[[Definition:ChangeCompliance of circumstancerequirement]]
[[Definition:NotificationRegulatory ofoutsourcing changeobligation]]
[[Definition:RiskMaterial survey reportoutsourcing]]
[[Definition:EngineeringCritical surveyservice provider]]
[[Definition:LossConcentration control surveyrisk]]
[[Definition:LossFourth-party preventionrisk]]
[[Definition:LossSupply controlchain risk]]
[[Definition:LossRight mitigationto audit clause]]
[[Definition:RiskData managementprocessing agreement (DPA)]]
[[Definition:EnterpriseIntellectual riskproperty managementrights (ERMIPR)]]
[[Definition:RiskIndemnification registerclause]]
[[Definition:RiskLimitation matrixof liability]]
[[Definition:RiskForce heat mapmajeure]]
[[Definition:KeyLiquidated risk indicator (KRI)damages]]
[[Definition:Risk-adjustedPenalty pricingclause]]
[[Definition:OccupancyEarnback classmechanism]]
[[Definition:ConstructionGain-sharing classarrangement]]
[[Definition:ProtectionFixed-price classcontract]]
[[Definition:HazardTime-and-materials gradecontract (T&M)]]
[[Definition:IndustryCost-plus classificationcontract]]
[[Definition:StandardOutcome-based Industrial Classification (SIC)contract]]
[[Definition:NorthMaverick American Industry Classification System (NAICS)spend]]
[[Definition:StatisticalSpend codeunder management]]
[[Definition:ClassSavings codetarget]]
[[Definition:PerilBudget codeholder]]
[[Definition:CauseApproval of loss codeworkflow]]
[[Definition:GeocodingDelegated authority]]
[[Definition:GeospatialProcurement risk assessmentpolicy]]
[[Definition:FloodEthical zonesourcing]]
[[Definition:WindstormEnvironmental, zonesocial, and governance criteria (ESG)]]
[[Definition:EarthquakeSustainable zoneprocurement]]
[[Definition:NaturalVendor hazardperformance zonereview]]
[[Definition:ExposureContinuous databaseimprovement]]
[[Definition:ScheduleMarket of values (SOV)analysis]]
[[Definition:TotalMake-or-buy insured value (TIV)decision]]
[[Definition:DeclaredIncumbent valuessupplier]]
[[Definition:Statement of values]]
[[Definition:BusinessGross descriptionwritten premiums (GWP)]]
[[Definition:RiskCombined narrativeratio (CR)]]
[[Definition:RiskUnderlying summaryearnings]]
[[Definition:UnderwritingUnderlying informationearnings sheetper share (UEPS)]]
[[Definition:LossUnderlying runreturn on equity (URoE)]]
[[Definition:LossNet history reportincome]]
[[Definition:ClaimsSolvency historyII ratio]]
[[Definition:PriorEligible insuranceown funds (EOF)]]
[[Definition:NoContractual claimsservice bonusmargin (NCBCSM)]]
[[Definition:NoNew claimsbusiness discountvalue (NCDNBV)]]
[[Definition:Claims-freeNew discountbusiness value margin]]
[[Definition:ExperiencePresent modificationvalue of expected premiums (PVEP)]]
[[Definition:ExperienceNew modifierbusiness contractual service margin (NB CSM)]]
[[Definition:MeritCSM rating planrelease]]
[[Definition:Bonus-malusTechnical systemmargin]]
[[Definition:DeductibleTechnical buy-backexperience]]
[[Definition:DeductibleNet erosionflows]]
[[Definition:Aggregate stop lossUnit-linked]]
[[Definition:BasketGeneral retentionaccount (GA)]]
[[Definition:CombinedProperty deductibleand casualty insurance (P&C)]]
[[Definition:NetLife retentionand analysishealth insurance (L&H)]]
[[Definition:CededCommercial premiumlines]]
[[Definition:AssumedPersonal premiumlines]]
[[Definition:Retroceded premiumReinsurance]]
[[Definition:GrossManaging premiumgeneral agent (MGA)]]
[[Definition:NetNatural premiumcatastrophe charges (Nat Cat)]]
[[Definition:PremiumPrior allocationyears' reserve development]]
[[Definition:PremiumClaims splitreserve]]
[[Definition:PremiumUnwind allocationof approachdiscount]]
[[Definition:RiskLoss premium methodratio]]
[[Definition:ExpectedExpense premiumratio]]
[[Definition:SubjectCurrent premiumyear loss]]
[[Definition:SubjectShort-tail premium income (SPI)lines]]
[[Definition:EstimatedLong-tail premium income (EPI)lines]]
[[Definition:GrossCasualty net premium income (GNPI)insurance]]
[[Definition:RateFinancial on line (ROL)lines]]
[[Definition:Payback periodProtection]]
[[Definition:MultipleSavings of rate on lineinsurance]]
[[Definition:Insurance-to-valueEndowment (ITV)product]]
[[Definition:CoinsuranceSingle penaltypremium]]
[[Definition:MarginWhole-life clauseproduct]]
[[Definition:Inflationary guardBancassurance]]
[[Definition:EscalationDirect clauseinsurance]]
[[Definition:IndexationMotor insurance]]
[[Definition:PolicyFire countinsurance]]
[[Definition:RiskWorkers' countcompensation]]
[[Definition:UnitGroup countlife insurance]]
[[Definition:ExposureHealth unitinsurance]]
[[Definition:ExposureComplementary basehealth insurance]]
[[Definition:PremiumRetail per unit of exposuremotor]]
[[Definition:LossSocial cost per unit of exposureinflation]]
[[Definition:Man-yearMarket softening]]
[[Definition:Vehicle-yearPricing cycle]]
[[Definition:PayrollCapital-light exposureproduct]]
[[Definition:Revenue exposureSurrender]]
[[Definition:Turnover exposurePersistency]]
[[Definition:Asset exposureUnderwriting]]
[[Definition:Square footage exposurePruning]]
[[Definition:Headcount exposureEarn-through]]
[[Definition:Debt gearing]]
[[Definition:Restricted Tier 1 capital (RT1)]]
[[Definition:Tier 2 capital]]
[[Definition:Loss absorption mechanism]]
[[Definition:Write-down]]
[[Definition:Credit spread]]
[[Definition:Investment grade]]
[[Definition:High yield]]
[[Definition:Corporate spread]]
[[Definition:Solvency capital requirement (SCR)]]
[[Definition:Organic cash upstream]]
[[Definition:Dividend payout ratio]]
[[Definition:Total payout ratio]]
[[Definition:Share buy-back]]
[[Definition:Normalized own funds generation]]
[[Definition:Operating return]]
[[Definition:Foreseeable dividend]]
[[Definition:Comparable basis]]
[[Definition:Constant exchange rate basis]]
[[Definition:Scope effect]]
[[Definition:Intercompany elimination]]
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