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[[Definition:Distribution channel]]
[[Definition:Intermediary]]
[[Definition:Insurance broker]]
[[Definition:Insurance agent]]
[[Definition:Independent agent]]
[[Definition:Captive agent (exclusive agent)]]
[[Definition:General agent (GA)]]
[[Definition:Managing general agent (MGA)]]
[[Definition:Managing general underwriter (MGU)]]
[[Definition:Delegated underwriting authority (DUA)]]
[[Definition:Binding authority]]
[[Definition:Binder]]
[[Definition:Coverholder]]
[[Definition:Program administrator]]
[[Definition:Program business]]
[[Definition:Wholesale broker]]
[[Definition:Retail broker]]
[[Definition:Surplus lines broker]]
[[Definition:Reinsurance broker]]
[[Definition:Lloyd's broker]]
[[Definition:Placing broker]]
[[Definition:Producing broker]]
[[Definition:Broker of record]]
[[Definition:Broker of record letter (BOR)]]
[[Definition:Sub-agent]]
[[Definition:Appointed representative (AR)]]
[[Definition:Introducer appointed representative (IAR)]]
[[Definition:Tied agent]]
[[Definition:Multi-tied agent]]
[[Definition:Bancassurance]]
[[Definition:Affinity group marketing]]
[[Definition:Affinity partner]]
[[Definition:White-label distribution]]
[[Definition:Embedded insurance]]
[[Definition:Insurtech]]
[[Definition:Digital distribution]]
[[Definition:Direct-to-consumer distribution (D2C)]]
[[Definition:Direct writer]]
[[Definition:Aggregator (comparison site)]]
[[Definition:Insurance marketplace]]
[[Definition:Lead generation]]
[[Definition:Referral arrangement]]
[[Definition:Distribution agreement]]
[[Definition:Agency agreement]]
[[Definition:Brokerage agreement]]
[[Definition:Terms of business agreement (TOBA)]]
[[Definition:Commission]]
[[Definition:Brokerage commission]]
[[Definition:Override commission (overrider)]]
[[Definition:Contingent commission]]
[[Definition:Profit commission]]
[[Definition:Sliding-scale commission]]
[[Definition:Commission disclosure]]
[[Definition:Net rate]]
[[Definition:Gross rate]]
[[Definition:Fee-based compensation]]
[[Definition:Broker remuneration]]
[[Definition:Acquisition cost]]
[[Definition:Commission ratio]]
[[Definition:Expense ratio]]
[[Definition:Combined ratio]]
[[Definition:Cost of acquisition]]
[[Definition:Bordereaux]]
[[Definition:Premium bordereaux]]
[[Definition:Claims bordereaux]]
[[Definition:Binding authority agreement (BAA)]]
[[Definition:Lineslip]]
[[Definition:Consortium]]
[[Definition:Facility]]
[[Definition:Open market placement]]
[[Definition:Subscription market]]
[[Definition:Lead underwriter (lead insurer)]]
[[Definition:Following underwriter]]
[[Definition:Slip]]
[[Definition:Market reform contract (MRC)]]
[[Definition:Placing slip]]
[[Definition:Firm order terms (FOT)]]
[[Definition:Indication]]
[[Definition:Quote]]
[[Definition:Quotation]]
[[Definition:Invitation to tender]]
[[Definition:Request for proposal (RFP)]]
[[Definition:Request for quotation (RFQ)]]
[[Definition:Statement of fact]]
[[Definition:Proposal form]]
[[Definition:Submission]]
[[Definition:Risk presentation]]
[[Definition:Fact find]]
[[Definition:Demands and needs statement]]
[[Definition:Suitability assessment]]
[[Definition:Insurance product information document (IPID)]]
[[Definition:Key information document (KID)]]
[[Definition:Pre-contractual disclosure]]
[[Definition:Duty of disclosure]]
[[Definition:Material fact]]
[[Definition:Utmost good faith (uberrima fides)]]
[[Definition:Duty of fair presentation]]
[[Definition:Best advice]]
[[Definition:Advised sale]]
[[Definition:Non-advised sale (execution only)]]
[[Definition:Product oversight and governance (POG)]]
[[Definition:Target market]]
[[Definition:Product approval process]]
[[Definition:Product distribution arrangement]]
[[Definition:Conduct of business]]
[[Definition:Treating customers fairly (TCF)]]
[[Definition:Customer outcome]]
[[Definition:Vulnerable customer]]
[[Definition:Complaints handling procedure]]
[[Definition:Insurance distribution directive (IDD)]]
[[Definition:Continuing professional development (CPD)]]
[[Definition:Fit and proper requirements]]
[[Definition:Licensing requirement]]
[[Definition:Appointment (of agent or intermediary)]]
[[Definition:Register of intermediaries]]
[[Definition:Cross-border distribution]]
[[Definition:Freedom of services (FOS)]]
[[Definition:Freedom of establishment (FOE)]]
[[Definition:Passporting]]
[[Definition:Third-country branch]]
[[Definition:E&O insurance (professional indemnity insurance)]]
[[Definition:Errors and omissions insurance (E&O)]]
[[Definition:Professional indemnity insurance (PI)]]
[[Definition:Fiduciary duty]]
[[Definition:Duty of care]]
[[Definition:Conflict of interest]]
[[Definition:Client money]]
[[Definition:Premium trust fund]]
[[Definition:Insurer security (carrier financial strength)]]
[[Definition:Admitted carrier (authorised insurer)]]
[[Definition:Non-admitted carrier (non-authorised insurer)]]
[[Definition:Surplus lines market]]
[[Definition:Excess and surplus lines (E&S)]]
[[Definition:London market]]
[[Definition:Lloyd's of London]]
[[Definition:Syndicate]]
[[Definition:Managing agent (Lloyd's)]]
[[Definition:Lloyd's coverholder]]
[[Definition:Delegated authority]]
[[Definition:Third-party administrator (TPA)]]
[[Definition:Claims administrator]]
[[Definition:Loss adjuster (loss adjustor)]]
[[Definition:Premium collection]]
[[Definition:Premium financing]]
[[Definition:Installment billing]]
[[Definition:Policy administration]]
[[Definition:Policy issuance]]
[[Definition:Mid-term adjustment (MTA)]]
[[Definition:Endorsement]]
[[Definition:Renewal]]
[[Definition:Renewal retention rate]]
[[Definition:Lapse]]
[[Definition:Cancellation]]
[[Definition:Book of business]]
[[Definition:Portfolio transfer]]
[[Definition:Novation]]
[[Definition:Run-off]]
[[Definition:Gross written premium (GWP)]]
[[Definition:Net written premium (NWP)]]
[[Definition:Ceding commission]]
[[Definition:Fronting arrangement]]
[[Definition:Fronting insurer]]
[[Definition:Capacity]]
[[Definition:Risk appetite]]
[[Definition:Underwriting guideline]]
[[Definition:Underwriting authority]]
[[Definition:Binding limit]]
[[Definition:Referral (to underwriter)]]
[[Definition:Peer-to-peer insurance (P2P)]]
[[Definition:Parametric insurance distribution]]
[[Definition:Microinsurance]]
[[Definition:Group insurance scheme]]
[[Definition:Voluntary benefit]]
[[Definition:Worksite marketing]]
[[Definition:Cross-selling]]
[[Definition:Up-selling]]
[[Definition:Multi-channel distribution]]
[[Definition:Omnichannel distribution]]
[[Definition:Point-of-sale insurance]]
[[Definition:Ancillary insurance intermediary]]
[[Definition:Travel distribution (ancillary insurance)]]
[[Definition:Motor dealer distribution]]
[[Definition:Retrocession broker]]
[[Definition:Wholesale market]]
[[Definition:Market access]]
[[Definition:Distribution footprint]]
[[Definition:Pipeline (sales pipeline)]]
[[Definition:Hit ratio (quote-to-bind ratio)]]
[[Definition:Conversion rate]]
[[Definition:Loss ratio (L/R)]]
[[Definition:Persistency rate]]
[[Definition:Customer lifetime value (CLV)]]
[[Definition:Net promoter score (NPS)]]
[[Definition:Application programming interface (API) integration]]
[[Definition:Straight-through processing (STP)]]
[[Definition:Electronic placement]]
[[Definition:Placing platform]]
Here is the comprehensive list:
[[Definition:Underwriting]]
[[Definition:Underwriting authority]]
[[Definition:Underwriting capacity]]
[[Definition:Underwriting cycle]]
[[Definition:Underwriting guideline]]
[[Definition:Underwriting appetite]]
[[Definition:Underwriting limit]]
[[Definition:Underwriting profit]]
[[Definition:Underwriting result]]
[[Definition:Underwriting year]]
[[Definition:Underwriting risk]]
[[Definition:Underwriting philosophy]]
[[Definition:Underwriting discipline]]
[[Definition:Underwriting referral]]
[[Definition:Underwriting decision]]
[[Definition:Underwriting submission]]
[[Definition:Underwriting file]]
[[Definition:Underwriting review]]
[[Definition:Underwriting audit]]
[[Definition:Underwriting peer review]]
[[Definition:Underwriting portfolio]]
[[Definition:Underwriting strategy]]
[[Definition:Underwriting performance]]
[[Definition:Underwriting expense]]
[[Definition:Underwriting income]]
[[Definition:Underwriting margin]]
[[Definition:Underwriting leverage]]
[[Definition:Underwriting gain]]
[[Definition:Underwriting loss]]
[[Definition:Risk selection]]
[[Definition:Risk classification]]
[[Definition:Risk assessment]]
[[Definition:Risk evaluation]]
[[Definition:Risk appetite]]
[[Definition:Risk appetite statement]]
[[Definition:Risk tolerance]]
[[Definition:Risk profile]]
[[Definition:Risk factor]]
[[Definition:Risk scoring]]
[[Definition:Risk rating]]
[[Definition:Risk grading]]
[[Definition:Risk segmentation]]
[[Definition:Risk differentiation]]
[[Definition:Risk aggregation]]
[[Definition:Risk accumulation]]
[[Definition:Risk concentration]]
[[Definition:Risk correlation]]
[[Definition:Risk mitigation]]
[[Definition:Risk transfer]]
[[Definition:Risk retention]]
[[Definition:Risk sharing]]
[[Definition:Risk acceptance]]
[[Definition:Risk declination]]
[[Definition:Risk quality]]
[[Definition:Risk characteristic]]
[[Definition:Risk exposure]]
[[Definition:Risk category]]
[[Definition:Exposure]]
[[Definition:Exposure analysis]]
[[Definition:Exposure management]]
[[Definition:Exposure monitoring]]
[[Definition:Exposure unit]]
[[Definition:Exposure base]]
[[Definition:Exposure rating]]
[[Definition:Insurable risk]]
[[Definition:Insurable interest]]
[[Definition:Moral hazard]]
[[Definition:Morale hazard]]
[[Definition:Physical hazard]]
[[Definition:Hazard]]
[[Definition:Peril]]
[[Definition:Loss exposure]]
[[Definition:Loss potential]]
[[Definition:Loss history]]
[[Definition:Loss experience]]
[[Definition:Loss ratio (L/R)]]
[[Definition:Loss ratio trend]]
[[Definition:Expected loss ratio (ELR)]]
[[Definition:Incurred loss ratio]]
[[Definition:Ultimate loss ratio]]
[[Definition:Target loss ratio]]
[[Definition:Burning cost]]
[[Definition:Burning cost ratio]]
[[Definition:Experience rating]]
[[Definition:Experience modification]]
[[Definition:Loss development]]
[[Definition:Loss development factor (LDF)]]
[[Definition:Loss triangle]]
[[Definition:Loss cost]]
[[Definition:Loss frequency]]
[[Definition:Loss severity]]
[[Definition:Frequency-severity analysis]]
[[Definition:Attritional loss]]
[[Definition:Large loss]]
[[Definition:Catastrophic loss]]
[[Definition:Shock loss]]
[[Definition:Maximum foreseeable loss (MFL)]]
[[Definition:Maximum possible loss (MPL)]]
[[Definition:Probable maximum loss (PML)]]
[[Definition:Estimated maximum loss (EML)]]
[[Definition:Normal loss expectancy (NLE)]]
[[Definition:Loss expectancy]]
[[Definition:Loss adjustment expense (LAE)]]
[[Definition:Allocated loss adjustment expense (ALAE)]]
[[Definition:Unallocated loss adjustment expense (ULAE)]]
[[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 reserve (UPR)]]
[[Definition:Unearned premium]]
[[Definition:Unearned premium reserve (UPR)]]
[[Definition:Earned premium]]
[[Definition:Written premium]]
[[Definition:CededPremium premiumdeficiency reserve]]
[[Definition:RetainedAdditional premiumunexpired risk reserve (AURR)]]
[[Definition:OriginalDeferred premiumacquisition cost (DAC)]]
[[Definition:Premium income]]
[[Definition:Premium volume]]
[[Definition:Premium base]]
[[Definition:Premium rate]]
[[Definition:Premium calculation]]
[[Definition:Premium adequacy]]
[[Definition:Premium deficiency]]
[[Definition:Premium adjustment]]
[[Definition:Premium loading]]
[[Definition:Premium discount]]
[[Definition:Minimum premium]]
[[Definition:Deposit premium]]
[[Definition:Provisional premium]]
[[Definition:Adjustable premium]]
[[Definition:Flat premium]]
[[Definition:Annual premium]]
[[Definition:Instalment premium]]
[[Definition:Return premium]]
[[Definition:Additional premium]]
[[Definition:Reinstatement premium]]
[[Definition:Advance premium]]
[[Definition:Subject premium]]
[[Definition:Estimated premium income (EPI)]]
[[Definition:Premium-to-surplus ratio]]
[[Definition:Pricing]]
[[Definition:Rate]]
[[Definition:Rate adequacy]]
[[Definition:Rate change]]
[[Definition:Rate increase]]
[[Definition:Rate reduction]]
[[Definition:Rate level]]
[[Definition:Rate monitoring]]
[[Definition:Rate filing]]
[[Definition:Rating]]
[[Definition:Rating factor]]
[[Definition:Rating class]]
[[Definition:Rating plan]]
[[Definition:Rating methodology]]
[[Definition:Rating model]]
[[Definition:Rating algorithm]]
[[Definition:Rating table]]
[[Definition:Rating manual]]
[[Definition:Manual rate]]
[[Definition:Manual rating]]
[[Definition:Base rate]]
[[Definition:Base premium]]
[[Definition:Technical rate]]
[[Definition:Technical price]]
[[Definition:Technical premium]]
[[Definition:Risk-adjusted rate]]
[[Definition:Composite rate]]
[[Definition:Flat rate]]
[[Definition:Blended rate]]
[[Definition:Per-unit rate]]
[[Definition:Minimum rate]]
[[Definition:Class rate]]
[[Definition:Merit rating]]
[[Definition:Schedule rating]]
[[Definition:Retrospective rating]]
[[Definition:Prospective rating]]
[[Definition:Credibility]]
[[Definition:Credibility weighting]]
[[Definition:Credibility factor]]
[[Definition:Full credibility]]
[[Definition:Partial credibility]]
[[Definition:Actuarial analysis]]
[[Definition:Actuarial assumption]]
[[Definition:Actuarial model]]
[[Definition:Actuarial pricing]]
[[Definition:Actuarial reserve]]
[[Definition:Actuarial valuation]]
[[Definition:Loss reserving]]
[[Definition:Catastrophe model (cat model)]]
[[Definition:Catastrophe risk]]
[[Definition:Catastrophe exposure]]
[[Definition:Catastrophe excess of loss]]
[[Definition:Aggregate exposure]]
[[Definition:Aggregate limit]]
[[Definition:Aggregate deductible]]
[[Definition:Aggregate excess of loss]]
[[Definition:Annual aggregate]]
[[Definition:Accumulation control]]
[[Definition:Accumulation risk]]
[[Definition:Probable maximum loss analysis]]
[[Definition:Stochastic model]]
[[Definition:Deterministic model]]
[[Definition:Monte Carlo simulation]]
[[Definition:Return period]]
[[Definition:Occurrence exceedance probability (OEP)]]
[[Definition:Aggregate exceedance probability (AEP)]]
[[Definition:Average annual loss (AAL)]]
[[Definition:Tail value at risk (TVaR)]]
[[Definition:Value at risk (VaR)]]
[[Definition:Risk measure]]
[[Definition:Policy]]
[[Definition:Policy form]]
[[Definition:Policy wording]]
[[Definition:Policy period]]
[[Definition:Policy inception]]
[[Definition:Policy expiry]]
[[Definition:Policy term]]
[[Definition:Policy limit]]
[[Definition:Policy condition]]
[[Definition:Policy exclusion]]
[[Definition:Policy extension]]
[[Definition:Policy endorsement (also: rider, clause)]]
[[Definition:Policy schedule]]
[[Definition:Policy issuance]]
[[Definition:Policy amendment]]
[[Definition:Policy cancellation]]
[[Definition:Policy renewal]]
[[Definition:Policy midterm adjustment]]
[[Definition:Policy territory]]
[[Definition:Policy aggregate]]
[[Definition:Manuscript policy]]
[[Definition:Standard policy form]]
[[Definition:Package policy]]
[[Definition:Monoline policy]]
[[Definition:Multiline policy]]
[[Definition:Claims-made policy]]
[[Definition:Occurrence-based policy]]
[[Definition:Claims-made and reported]]
[[Definition:Retroactive date]]
[[Definition:Discovery period (also: extended reporting period, ERP)]]
[[Definition:Sunset clause]]
[[Definition:Named-peril policy]]
[[Definition:All-risks policy (also: open-peril policy)]]
[[Definition:Blanket policy]]
[[Definition:Specific policy]]
[[Definition:Scheduled policy]]
[[Definition:Unscheduled policy]]
[[Definition:Primary policy]]
[[Definition:Excess policy]]
[[Definition:Umbrella policy]]
[[Definition:Stand-alone policy]]
[[Definition:Follow-form policy]]
[[Definition:Wrap-up policy]]
[[Definition:Binder]]
[[Definition:Cover note]]
[[Definition:Certificate of insurance (COI)]]
[[Definition:Declarations page (dec page)]]
[[Definition:Proposal form]]
[[Definition:Application]]
[[Definition:Quotation (quote)]]
[[Definition:Indication]]
[[Definition:Firm order term]]
[[Definition:Letter of intent]]
[[Definition:Terms and conditions]]
[[Definition:Coverage]]
[[Definition:Scope of cover]]
[[Definition:Cover]]
[[Definition:Insuring agreement (also: insuring clause)]]
[[Definition:Limit of liability (also: limit of indemnity)]]
[[Definition:Per-occurrence limit]]
[[Definition:Per-claim limit]]
[[Definition:Per-person limit]]
[[Definition:Per-location limit]]
[[Definition:Policy sublimit]]
[[Definition:Inner limit]]
[[Definition:Combined single limit (CSL)]]
[[Definition:Split limit]]
[[Definition:Annual aggregate limit]]
[[Definition:Aggregate stop loss]]
[[Definition:Deductible]]
[[Definition:Self-insured retention (SIR)]]
[[Definition:Excess (also: deductible in US usage)]]
[[Definition:Franchise deductible]]
[[Definition:Co-insurance (also: co-pay)]]
[[Definition:Co-insurance clause]]
[[Definition:Average clause (also: condition of average)]]
[[Definition:Retention]]
[[Definition:Net retention]]
[[Definition:Gross retention]]
[[Definition:First loss]]
[[Definition:Waiting period (also: time deductible)]]
[[Definition:Exclusion]]
[[Definition:General exclusion]]
[[Definition:Specific exclusion]]
[[Definition:Absolute exclusion]]
[[Definition:Conditional exclusion]]
[[Definition:War exclusion]]
[[Definition:Terrorism exclusion]]
[[Definition:Nuclear exclusion]]
[[Definition:Pollution exclusion]]
[[Definition:Cyber exclusion]]
[[Definition:Communicable disease exclusion]]
[[Definition:Systemic risk exclusion]]
[[Definition:Sanction limitation and exclusion clause]]
[[Definition:Condition precedent]]
[[Definition:Condition subsequent]]
[[Definition:Warranty (in insurance)]]
[[Definition:Representation]]
[[Definition:Material fact]]
[[Definition:Material misrepresentation]]
[[Definition:Non-disclosure (also: concealment)]]
[[Definition:Duty of disclosure]]
[[Definition:Duty of fair presentation]]
[[Definition:Utmost good faith (uberrima fides)]]
[[Definition:Subrogation]]
[[Definition:Contribution]]
[[Definition:Indemnity]]
[[Definition:Principle of indemnity]]
[[Definition:Reinstatement (property insurance)]]
[[Definition:Replacement cost]]
[[Definition:Actual cash value (ACV)]]
[[Definition:Agreed value]]
[[Definition:Valued policy]]
[[Definition:Sum insured]]
[[Definition:Total sum insured (TSI)]]
[[Definition:Declared value]]
[[Definition:Insured value]]
[[Definition:Underinsurance]]
[[Definition:Overinsurance]]
[[Definition:Double insurance]]
[[Definition:Other insurance clause]]
[[Definition:Proximate cause]]
[[Definition:Concurrent causation]]
[[Definition:Reinsurance]]
[[Definition:Treaty reinsurance]]
[[Definition:Facultative reinsurance]]
[[Definition:Proportional reinsurance]]
[[Definition:Non-proportional reinsurance]]
[[Definition:Quota share reinsurance]]
[[Definition:Surplus reinsurance]]
[[Definition:Excess of loss reinsurance (XOL)]]
[[Definition:Stop loss reinsurance (also: aggregate excess of loss)]]
[[Definition:Catastrophe excess of loss reinsurance (cat XOL)]]
[[Definition:Per-risk excess of loss]]
[[Definition:Per-occurrence excess of loss]]
[[Definition:Working layer]]
[[Definition:Excess layer]]
[[Definition:Attachment point]]
[[Definition:Retention (reinsurance)]]
[[Definition:Cession]]
[[Definition:Retrocession]]
[[Definition:Retrocedent]]
[[Definition:Retrocessionaire]]
[[Definition:Reinsurance programme]]
[[Definition:Reinsurance placement]]
[[Definition:Reinsurance slip]]
[[Definition:Reinsurance panel]]
[[Definition:Reinsurance security]]
[[Definition:Reinsurance recoverables]]
[[Definition:Reinsurance commutation]]
[[Definition:Ceding commission]]
[[Definition:Profit commission]]
[[Definition:Override commission]]
[[Definition:Sliding scale commission]]
[[Definition:Loss corridor]]
[[Definition:Loss participation]]
[[Definition:Follow the fortunes]]
[[Definition:Follow the settlements]]
[[Definition:Losses occurring basis]]
[[Definition:Risks attaching basis]]
[[Definition:Claims-made basis (reinsurance)]]
[[Definition:Clean-cut basis]]
[[Definition:Run-off basis]]
[[Definition:Inuring reinsurance]]
[[Definition:Net retained line]]
[[Definition:Gross line]]
[[Definition:Signed line]]
[[Definition:Written line]]
[[Definition:Order percentage]]
[[Definition:Co-insurance (market participation)]]
[[Definition:Leading underwriter]]
[[Definition:Lead insurer]]
[[Definition:Following underwriter]]
[[Definition:Following market]]
[[Definition:Subscription market]]
[[Definition:Slip]]
[[Definition:Market reform contract (MRC)]]
[[Definition:Placing slip]]
[[Definition:Signing]]
[[Definition:Closing]]
[[Definition:Bureau signing]]
[[Definition:Line size]]
[[Definition:Stamp capacity]]
[[Definition:Capacity]]
[[Definition:Security (insurance market)]]
[[Definition:Syndicate]]
[[Definition:Managing agent]]
[[Definition:Managing general agent (MGA)]]
[[Definition:Managing general underwriter (MGU)]]
[[Definition:Delegated underwriting authority (DUA)]]
[[Definition:Binding authority agreement (binder)]]
[[Definition:Coverholder]]
[[Definition:Programme administrator]]
[[Definition:Third-party administrator (TPA)]]
[[Definition:Wholesale broker]]
[[Definition:Retail broker]]
[[Definition:Producing broker]]
[[Definition:Placing broker]]
[[Definition:Intermediary]]
[[Definition:Brokerage]]
[[Definition:Commission]]
[[Definition:Contingent commission]]
[[Definition:Acquisition cost]]
[[Definition:DistributionAcquisition cost ratio]]
[[Definition:DirectLoss writerratio (L/R)]]
[[Definition:CaptiveCombined insurerratio (CR)]]
[[Definition:Fronting]]
[[Definition:Fronting insurer]]
[[Definition:Fronting fee]]
[[Definition:Insurer]]
[[Definition:Reinsurer]]
[[Definition:Cedant (also: ceding company)]]
[[Definition:Risk carrier]]
[[Definition:Policyholder]]
[[Definition:Insured]]
[[Definition:Named insured]]
[[Definition:Additional insured]]
[[Definition:Loss payee]]
[[Definition:Beneficiary]]
[[Definition:Claimant]]
[[Definition:First party]]
[[Definition:Third party]]
[[Definition:Property insurance]]
[[Definition:Casualty insurance (also: liability insurance)]]
[[Definition:General liability insurance]]
[[Definition:Commercial general liability (CGL)]]
[[Definition:Professional liability insurance (also: professional indemnity, PI)]]
[[Definition:Directors and officers liability insurance (D&O)]]
[[Definition:Errors and omissions insurance (E&O)]]
[[Definition:Employment practices liability insurance (EPLI)]]
[[Definition:Product liability insurance]]
[[Definition:Public liability insurance]]
[[Definition:Employers' liability insurance]]
[[Definition:Commercial property insurance]]
[[Definition:Business interruption insurance (BI)]]
[[Definition:Contingent business interruption insurance]]
[[Definition:Loss of profits insurance]]
[[Definition:Cyber insurance (also: cyber risk insurance)]]
[[Definition:Technology errors and omissions insurance (tech E&O)]]
[[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:Surety bond]]
[[Definition:Fidelity bond (also: fidelity guarantee)]]
[[Definition:Crime insurance]]
[[Definition:Kidnap and ransom insurance (K&R)]]
[[Definition:Political risk insurance]]
[[Definition:Credit insurance (also: trade credit insurance)]]
[[Definition:Environmental liability insurance]]
[[Definition:Motor insurance (also: auto insurance)]]
[[Definition:Workers' compensation insurance (also: employers' liability)]]
[[Definition:Life insurance]]
[[Definition:Health insurance]]
[[Definition:Accident and health insurance (A&H)]]
[[Definition:Personal lines]]
[[Definition:Commercial lines]]
[[Definition:Specialty lines (also: specialty insurance)]]
[[Definition:Excess and surplus lines (E&S)]]
[[Definition:Line of business (LOB)]]
[[Definition:Class of business]]
[[Definition:Book of business]]
[[Definition:Portfolio transfer]]
[[Definition:Loss portfolio transfer (LPT)]]
[[Definition:Adverse development cover (ADC)]]
[[Definition:Run-off]]
[[Definition:Tail]]
[[Definition:Long-tail business]]
[[Definition:Short-tail business]]
[[Definition:Combined ratio]]
[[Definition:Expense ratio]]
[[Definition:Operating ratio]]
[[Definition:CommissionUnderwriting ratioresult]]
[[Definition:NetUnderwriting combined ratioprofit]]
[[Definition:TradeUnderwriting combined ratioyear]]
[[Definition:InvestmentAccident income ratioyear]]
[[Definition:ReturnCalendar on equity (ROE)year]]
[[Definition:Risk-adjustedPolicy return on capital (RAROC)year]]
[[Definition:EconomicYear capitalof account (YOA)]]
[[Definition:Regulatory capital]]
[[Definition:Solvency margin]]
[[Definition:Capital adequacy]]
[[Definition:Technical provision]]
[[Definition:Claims reserve]]
[[Definition:Outstanding claims reserve]]
[[Definition:Incurred but not reported reserve (IBNR)]]
[[Definition:Incurred but not enough reported reserve (IBNER)]]
[[Definition:Outstanding claim reserve]]
[[Definition:Case reserve]]
[[Definition:Bulk reserve]]
[[Definition:CatastropheClaims reserveincurred]]
[[Definition:EqualisationPaid reserveloss]]
[[Definition:ReservingLoss adequacydevelopment]]
[[Definition:ReserveLoss margindevelopment factor (LDF)]]
[[Definition:Loss triangle]]
[[Definition:Run-off triangle]]
[[Definition:Ultimate loss]]
[[Definition:Ultimate loss ratio]]
[[Definition:Reserve adequacy]]
[[Definition:Reserve redundancy]]
[[Definition:Reserve deficiency]]
[[Definition:Reserve release]]
[[Definition:Reserve strengthening]]
[[Definition:Prior-year reserve development]]
[[Definition:FavourableDiscounted developmentreserve]]
[[Definition:AdverseUndiscounted developmentreserve]]
[[Definition:TriangulationTechnical provision]]
[[Definition:ChainBest ladderestimate methodliability (BEL)]]
[[Definition:Bornhuetter-FergusonRisk methodmargin]]
[[Definition:PaidClaims loss development methodprovision]]
[[Definition:IncurredPremium loss development methodprovision]]
[[Definition:Frequency-severityProvision methodfor outstanding claims]]
[[Definition:ClaimsEqualization notificationreserve]]
[[Definition:ClaimsCatastrophe handlingreserve]]
[[Definition:ClaimsNet adjustmentasset value (NAV)]]
[[Definition:ClaimsEmbedded settlementvalue (EV)]]
[[Definition:ClaimsEuropean leakageembedded value (EEV)]]
[[Definition:Market-consistent embedded value (MCEV)]]
[[Definition:Appraisal value]]
[[Definition:Value of in-force business (VIF)]]
[[Definition:Adjusted net asset value]]
[[Definition:Present value of future profits (PVFP)]]
[[Definition:Solvency margin]]
[[Definition:Solvency capital requirement (SCR)]]
[[Definition:Minimum capital requirement (MCR)]]
[[Definition:Own funds]]
[[Definition:Risk-based capital (RBC)]]
[[Definition:Surplus]]
[[Definition:Policyholders' surplus]]
[[Definition:Free reserves]]
[[Definition:Available capital]]
[[Definition:Eligible own funds]]
[[Definition:Tiered capital]]
[[Definition:Technical result]]
[[Definition:Non-technical account]]
[[Definition:Investment income]]
[[Definition:Investment return]]
[[Definition:Realized gain]]
[[Definition:Unrealized gain]]
[[Definition:Fair value]]
[[Definition:Amortized cost]]
[[Definition:Available-for-sale financial asset (AFS)]]
[[Definition:Held-to-maturity financial asset]]
[[Definition:Fair value through profit or loss (FVTPL)]]
[[Definition:Fair value through other comprehensive income (FVOCI)]]
[[Definition:Impairment loss]]
[[Definition:Reinsurance recoverable]]
[[Definition:Reinsurance asset]]
[[Definition:Reinsurance payable]]
[[Definition:Reinsurance deposit]]
[[Definition:Funds withheld]]
[[Definition:Ceded premium]]
[[Definition:Ceded loss]]
[[Definition:Ceded commission]]
[[Definition:Reinsurer's share of technical provisions]]
[[Definition:Sliding scale commission]]
[[Definition:Profit commission]]
[[Definition:Override commission]]
[[Definition:Overriding commission]]
[[Definition:Ceding commission]]
[[Definition:Contingent commission]]
[[Definition:Bordereaux]]
[[Definition:Premium bordereaux]]
[[Definition:Claims bordereaux]]
[[Definition:NewPremium businessreceivable]]
[[Definition:RenewalAgent's balance]]
[[Definition:RenewalInsurance termsreceivable]]
[[Definition:RenewalInsurance retention ratepayable]]
[[Definition:LapseInsurance contract liability]]
[[Definition:Non-renewalPolicyholder liability]]
[[Definition:Mid-termPolicyholder cancellationdividend]]
[[Definition:FlatParticipating cancellationpolicy surplus]]
[[Definition:Pro-rataDeferred cancellationtax asset]]
[[Definition:Short-rateDeferred cancellationtax liability]]
[[Definition:Reinstatement (policy)Goodwill]]
[[Definition:BoundIntangible asset]]
[[Definition:In-forceValue policyof business acquired (VOBA)]]
[[Definition:ExpiredContractual policyservice margin (CSM)]]
[[Definition:InceptionRisk dateadjustment (RA)]]
[[Definition:EffectiveFulfilment datecash flow]]
[[Definition:ExpiryCoverage date (also: expiration date)unit]]
[[Definition:AnniversaryPremium dateallocation approach (PAA)]]
[[Definition:PolicyBuilding yearblock approach (BBA)]]
[[Definition:AccidentGeneral yearmeasurement model (GMM)]]
[[Definition:CalendarVariable yearfee approach (VFA)]]
[[Definition:TreatyLiability yearfor remaining coverage (LRC)]]
[[Definition:YearLiability offor accountincurred claims (LIC)]]
[[Definition:SurveyLoss component]]
[[Definition:RiskOnerous surveycontract]]
[[Definition:LossOnerous controlcontract loss]]
[[Definition:LossPortfolio preventionof insurance contracts]]
[[Definition:RiskGroup improvementof insurance contracts]]
[[Definition:RiskInsurance engineeringcontract revenue]]
[[Definition:Pre-riskInsurance surveyservice expense]]
[[Definition:Post-lossInsurance assessmentservice result]]
[[Definition:RiskInsurance inspectionfinance income or expense]]
[[Definition:HazardOther identificationcomprehensive income (OCI)]]
[[Definition:RiskDiscount mappingrate]]
[[Definition:CatastropheLocked-in modellingdiscount rate]]
[[Definition:ExposureCurrent mappingdiscount rate]]
[[Definition:NaturalYield catastrophe (nat cat)curve]]
[[Definition:ManRisk-madefree catastropherate]]
[[Definition:PerilGross regionpremium valuation (GPV)]]
[[Definition:ZoneNet premium valuation (NPV)]]
[[Definition:CrestaStatutory zoneaccounting]]
[[Definition:GeocodingGenerally accepted accounting principles (GAAP)]]
[[Definition:LossInternational modelFinancial Reporting Standard (IFRS)]]
[[Definition:VulnerabilityIFRS curve17]]
[[Definition:ExceedanceIFRS probability curve (EP curve)9]]
[[Definition:TailStatutory risksurplus]]
[[Definition:CorrelationAdmitted riskasset]]
[[Definition:ClashNon-admitted asset]]
[[Definition:EventSalvage limitand subrogation]]
[[Definition:OccurrenceSubrogation recoverable]]
[[Definition:EventSalvage recoverable]]
[[Definition:HoursLoss clauseadjustment expense (LAE)]]
[[Definition:LossAllocated occurrenceloss definitionadjustment expense (ALAE)]]
[[Definition:AggregationUnallocated clauseloss adjustment expense (ULAE)]]
[[Definition:Anti-stackingDefence clausecost]]
[[Definition:BatchClaims clausehandling expense]]
[[Definition:InterlockingManagement clauseexpense ratio (MER)]]
[[Definition:SunsetTotal provisionexpense ratio (TER)]]
[[Definition:SeverabilityReturn clauseon equity (ROE)]]
[[Definition:Cross-liabilityReturn clauseon capital (ROC)]]
[[Definition:Non-vitiationEconomic clausecapital]]
[[Definition:Cut-throughCapital clauseadequacy]]
[[Definition:Follow-the-leaderRetrocession clauseaccounting]]
[[Definition:ClaimsAggregate cooperation clausestop-loss]]
[[Definition:ClaimsAggregate controlexcess clauseof loss]]
[[Definition:ClaimsDeposit notification clauseaccounting]]
[[Definition:SubjectivityFinite reinsurance]]
[[Definition:WarrantyRisk (underwritingtransfer condition)test]]
[[Definition:PremiumSignificant paymentinsurance warrantyrisk]]
[[Definition:PremiumActuarial payment clauseliability]]
[[Definition:SeveralActuarial liability clausereserve]]
[[Definition:JointNet and several liabilityincome]]
[[Definition:AllocationComprehensive of liabilityincome]]
[[Definition:PrimaryRetained and non-contributory endorsementearnings]]
[[Definition:WaiverShareholders' of subrogationequity]]
[[Definition:HoldBook harmless clausevalue]]
[[Definition:IndemnificationTangible clausebook value]]
[[Definition:ContractualLoss liabilityreserve to surplus ratio]]
[[Definition:AssumedPremium liabilityto surplus ratio]]
[[Definition:VicariousNet liabilityleverage ratio]]
[[Definition:StrictInvestment liabilityleverage]]
[[Definition:Joint venture coverageFloat]]
[[Definition:FiduciaryInsurance liability insurancefloat]]
[[Definition:Cash flow underwriting]]
[[Definition:Profit and loss account (P&L)]]
[[Definition:Balance sheet]]
[[Definition:Statement of comprehensive income]]
[[Definition:Statement of financial position]]
[[Definition:Technical account]]
[[Definition:Revenue account]]
[[Definition:Syndicate annual account]]
[[Definition:Funds at Lloyd's (FAL)]]
[[Definition:Premium trust fund]]
[[Definition:Insurance contract boundary]]
[[Definition:Cohort]]
[[Definition:Annual cohort]]
[[Definition:Transition approach]]
[[Definition:Full retrospective approach]]
[[Definition:Modified retrospective approach]]
[[Definition:Fair value approach]]
[[Definition:Experience adjustment]]
[[Definition:Confidence level]]
[[Definition:Probability of sufficiency]]
[[Definition:Chain-ladder method]]
[[Definition:Bornhuetter-Ferguson method]]
[[Definition:Expected loss ratio method]]
[[Definition:Loss reserving]]
[[Definition:Claim frequency]]
[[Definition:Claim severity]]
[[Definition:Average cost per claim]]
[[Definition:Written to earned ratio]]
[[Definition:Premium earning pattern]]
[[Definition:Deferred reinsurance premium]]
[[Definition:Prepaid reinsurance premium]]
[[Definition:Accrued premium]]
[[Definition:Return premium]]
[[Definition:Portfolio transfer]]
[[Definition:Loss portfolio transfer (LPT)]]
[[Definition:Adverse development cover (ADC)]]
[[Definition:Retrospective premium adjustment]]
[[Definition:SwingAudit ratingpremium]]
[[Definition:Loss-sensitiveMinimum programmeand deposit premium]]
[[Definition:Profit-sharingReinstatement arrangementpremium]]
[[Definition:No-claimsIntercompany discount (also: no-claims bonus)elimination]]
[[Definition:Bonus-malusConsolidated systemaccount]]
[[Definition:DeductibleSolo buybackaccount]]
[[Definition:DifferenceSegmental in conditions (DIC)reporting]]
[[Definition:DifferenceLine inof limits (DIL)business]]
[[Definition:LayeredClass programmeof business]]
[[Definition:InsuranceFunctional programme structurecurrency]]
[[Definition:ProgrammeForeign designexchange reserve]]
[[Definition:TowerCurrency (insurancetranslation programme)adjustment]]
[[Definition:VerticalHedging placementreserve]]
[[Definition:HorizontalMatching placementadjustment]]
[[Definition:PrimaryVolatility layeradjustment]]
[[Definition:BufferSurplus layerrelief]]
[[Definition:Working excess]]
[[Definition:High excess]]
[[Definition:Catastrophe layer]]
[[Definition:Side A coverage (D&O)]]
[[Definition:Side B coverage (D&O)]]
[[Definition:Side C coverage (D&O)]]
[[Definition:Entity coverage]]
[[Definition:Individual coverage]]
[[Definition:Broad form coverage]]
[[Definition:Narrow form coverage]]
[[Definition:Full prior acts coverage]]
[[Definition:Data analytics in underwriting]]
[[Definition:Predictive modelling]]
[[Definition:Algorithmic underwriting]]
[[Definition:Automated underwriting]]
[[Definition:Straight-through processing (STP)]]
[[Definition:Underwriting workbench]]
[[Definition:Pricing tool]]
[[Definition:Rating engine]]
[[Definition:Underwriting platform]]
[[Definition:Digital underwriting]]
[[Definition:Insurtech]]
[[Definition:Parametric insurance]]
[[Definition:Index-based insurance]]
[[Definition:Trigger (parametric insurance)]]
[[Definition:Payout structure (parametric insurance)]]
[[Definition:Basis risk]]
[[Definition:Alternative risk transfer (ART)]]
[[Definition:Insurance-linked security (ILS)]]
[[Definition:Catastrophe bond (cat bond)]]
[[Definition:Industry loss warranty (ILW)]]
[[Definition:Sidecar]]
[[Definition:Collateralised reinsurance]]
[[Definition:Special purpose vehicle (SPV)]]
[[Definition:Risk pool]]
[[Definition:Mutual insurance]]
[[Definition:Reciprocal exchange]]
[[Definition:Self-insurance]]
[[Definition:Risk financing]]
[[Definition:Finite risk reinsurance]]
[[Definition:Loss portfolio transfer]]
[[Definition:Structured reinsurance]]
[[Definition:Multi-year policy]]
[[Definition:Multi-line policy]]
[[Definition:Integrated risk programme]]
[[Definition:Enterprise risk management (ERM)]]
[[Definition:Own risk and solvency assessment (ORSA)]]
[[Definition:Solvency capital requirement (SCR)]]
[[Definition:Minimum capital requirement (MCR)]]
[[Definition:Internal model]]
[[Definition:Standard formula]]
[[Definition:Risk-based capital (RBC)]]
[[Definition:Capital modelling]]
[[Definition:Dynamic financial analysis (DFA)]]
[[Definition:Stress test]]
[[Definition:Scenario analysis]]
[[Definition:Reverse stress test]]
[[Definition:Sensitivity analysis]]
[[Definition:Diversification benefit]]
[[Definition:Correlation assumption]]
[[Definition:Underwriting risk charge]]
[[Definition:Reserving risk charge]]
[[Definition:Market risk]]
[[Definition:Credit risk (insurance context)]]
[[Definition:Operational risk (insurance context)]]
[[Definition:Liquidity risk]]
[[Definition:Reputational risk]]
[[Definition:Compliance risk]]
[[Definition:Regulatory risk]]
[[Definition:Conduct risk]]
[[Definition:Model risk]]
[[Definition:Cyber risk]]
[[Definition:Emerging risk]]
[[Definition:Systemic risk]]
[[Definition:Climate risk]]
[[Definition:Transition risk]]
[[Definition:Physical risk (climate)]]
[[Definition:Environmental, social, and governance factor (ESG)]]
[[Definition:Sustainability underwriting]]
[[Definition:Responsible underwriting]]
[[Definition:Sanctions screening]]
[[Definition:Anti-money laundering compliance (AML)]]
[[Definition:Know your customer (KYC)]]
[[Definition:Counter-terrorism financing (CTF)]]
[[Definition:Politically exposed person (PEP)]]
[[Definition:Sanctions clause]]
[[Definition:Regulatory compliance]]
[[Definition:Market conduct]]
[[Definition:Treating customers fairly (TCF)]]
[[Definition:Product governance]]
[[Definition:Product oversight and governance (POG)]]
[[Definition:Target market]]
[[Definition:Distribution strategy]]
[[Definition:Fit and proper requirement]]
[[Definition:Appointed representative]]
[[Definition:Insurance distribution]]
[[Definition:Financial strength rating]]
[[Definition:Credit rating (insurer)]]
[[Definition:Security rating]]
[[Definition:Counterparty risk]]
[[Definition:Aggregation methodology]]
[[Definition:Portfolio management]]
[[Definition:Portfolio optimisation]]
[[Definition:Portfolio steering]]
[[Definition:Mix of business]]
[[Definition:Business plan]]
[[Definition:Underwriting plan]]
[[Definition:Growth strategy]]
[[Definition:Profitability target]]
[[Definition:Cycle management]]
[[Definition:Soft market]]
[[Definition:Hard market]]
[[Definition:Market turn]]
[[Definition:Rate environment]]
[[Definition:Pricing adequacy]]
[[Definition:Rate online (ROL)]]
[[Definition:Payback period (reinsurance)]]
[[Definition:Broker market]]
[[Definition:Direct market]]
[[Definition:Programme business]]
[[Definition:Open-market business]]
[[Definition:Specialty market]]
[[Definition:Wholesale market]]
[[Definition:Retail market]]
[[Definition:London market]]
[[Definition:Bermuda market]]
[[Definition:Continental European market]]
[[Definition:Global programme]]
[[Definition:Master policy]]
[[Definition:Local policy]]
[[Definition:Freedom of services]]
[[Definition:Admitted insurance]]
[[Definition:Non-admitted insurance]]
[[Definition:Surplus lines]]
[[Definition:Cross-border insurance]]
[[Definition:Multinational insurance programme]]
[[Definition:Controlled master programme]]
[[Definition:Central placement]]
[[Definition:Local compliance]]
[[Definition:Insurance premium tax (IPT)]]
[[Definition:Fiscal obligation]]
[[Definition:Regulatory filing]]
[[Definition:Policy administration]]
[[Definition:Policy lifecycle management]]
[[Definition:Underwriting information]]
[[Definition:Supplementary underwriting information]]
[[Definition:Loss run]]
[[Definition:Claim history]]
[[Definition:Risk information]]
[[Definition:Exposure schedule]]
[[Definition:Statement of values (SOV)]]
[[Definition:Total insured value (TIV)]]
[[Definition:Maximum insured value]]
[[Definition:Replacement cost valuation]]
[[Definition:Business interruption values]]
[[Definition:Indemnity period]]
[[Definition:Maximum indemnity period]]
[[Definition:Gross profit (business interruption)]]
[[Definition:Revenue (business interruption)]]
[[Definition:Payroll]]
[[Definition:Premium basis]]
[[Definition:Turnover-based premium]]
[[Definition:Revenue-based premium]]
[[Definition:Asset-based premium]]
[[Definition:Headcount-based premium]]
[[Definition:Occupancy class]]
[[Definition:Construction class]]
[[Definition:Protection class]]
[[Definition:Fire protection]]
[[Definition:Sprinkler protection]]
[[Definition:Natural hazard zone]]
[[Definition:Flood zone]]
[[Definition:Earthquake zone]]
[[Definition:Windstorm zone]]
[[Definition:Terrorism risk zone]]
[[Definition:Industrial classification]]
[[Definition:Standard Industrial Classification (SIC)]]
[[Definition:North American Industry Classification System (NAICS)]]
[[Definition:NACE code]]
[[Definition:Jurisdiction]]
[[Definition:Territorial scope]]
[[Definition:Geographical scope]]
[[Definition:Worldwide coverage]]
[[Definition:Territorial limitation]]
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