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[[Definition: |
[[Definition:Artificial intelligence (AI)]] |
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[[Definition: |
[[Definition:Machine learning (ML)]] |
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[[Definition: |
[[Definition:Deep learning]] |
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[[Definition: |
[[Definition:Natural language processing (NLP)]] |
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[[Definition: |
[[Definition:Computer vision]] |
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[[Definition:Underwriting profit]] |
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[[Definition:Underwriting loss]] |
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[[Definition:Underwriting result]] |
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[[Definition:Underwriting year]] |
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[[Definition:Underwriting risk]] |
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[[Definition:Underwriting appetite]] |
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[[Definition:Underwriting strategy]] |
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[[Definition:Underwriting discipline]] |
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[[Definition:Underwriting philosophy]] |
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[[Definition:Underwriting manual]] |
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[[Definition:Underwriting limit]] |
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[[Definition:Underwriting submission]] |
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[[Definition:Underwriting referral]] |
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[[Definition:Underwriting review]] |
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[[Definition:Underwriting audit]] |
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[[Definition:Underwriting peer review]] |
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[[Definition:Underwriting file]] |
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[[Definition:Underwriting memorandum]] |
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[[Definition:Underwriting agreement]] |
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[[Definition:Underwriting expense]] |
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[[Definition:Underwriting margin]] |
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[[Definition:Underwriting income]] |
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[[Definition:Underwriting leverage]] |
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[[Definition:Underwriting portfolio]] |
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[[Definition:Underwriting performance]] |
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[[Definition:Underwriting criteria]] |
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[[Definition:Underwriting information]] |
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[[Definition:Underwriting decision]] |
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[[Definition:Underwriting authority framework]] |
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[[Definition:Underwriting control]] |
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[[Definition:Underwriting governance]] |
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[[Definition:Underwriting oversight]] |
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[[Definition:Underwriting delegation]] |
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[[Definition:Underwriting quality assurance]] |
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[[Definition:Underwriting exception]] |
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[[Definition:Underwriting deviation]] |
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[[Definition:Underwriting benchmark]] |
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[[Definition:Underwriting process]] |
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[[Definition:Underwriting workflow]] |
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[[Definition:Underwriting triage]] |
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[[Definition:Underwriting clearance]] |
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[[Definition:Underwriting sign-off]] |
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[[Definition:Risk assessment]] |
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[[Definition:Risk selection]] |
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[[Definition:Risk classification]] |
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[[Definition:Risk evaluation]] |
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[[Definition:Risk appetite]] |
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[[Definition:Risk appetite statement]] |
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[[Definition:Risk tolerance]] |
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[[Definition:Risk acceptance]] |
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[[Definition:Risk declination]] |
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[[Definition:Risk profile]] |
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[[Definition:Risk scoring]] |
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[[Definition:Risk grading]] |
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[[Definition:Risk rating]] |
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[[Definition:Risk segmentation]] |
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[[Definition:Risk differentiation]] |
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[[Definition:Risk factor]] |
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[[Definition:Risk indicator]] |
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[[Definition:Risk characteristic]] |
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[[Definition:Risk survey]] |
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[[Definition:Risk inspection]] |
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[[Definition:Risk engineering]] |
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[[Definition:Risk improvement]] |
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[[Definition:Risk improvement recommendation]] |
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[[Definition:Risk mitigation]] |
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[[Definition:Risk transfer]] |
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[[Definition:Risk retention]] |
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[[Definition:Risk aggregation]] |
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[[Definition:Risk accumulation]] |
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[[Definition:Risk concentration]] |
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[[Definition:Risk correlation]] |
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[[Definition:Risk exposure]] |
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[[Definition:Risk mapping]] |
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[[Definition:Hazard identification]] |
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[[Definition:Moral hazard]] |
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[[Definition:Morale hazard]] |
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[[Definition:Physical hazard]] |
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[[Definition:Loss exposure]] |
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[[Definition:Exposure analysis]] |
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[[Definition:Exposure management]] |
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[[Definition:Exposure monitoring]] |
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[[Definition:Aggregate exposure]] |
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[[Definition:Probable maximum loss (PML)]] |
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[[Definition:Maximum possible loss (MPL)]] |
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[[Definition:Estimated maximum loss (EML)]] |
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[[Definition:Normal loss expectancy (NLE)]] |
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[[Definition:Maximum foreseeable loss (MFL)]] |
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[[Definition:Expected loss]] |
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[[Definition:Loss expectancy]] |
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[[Definition:Catastrophe exposure]] |
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[[Definition:Natural catastrophe risk (nat cat)]] |
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[[Definition:Man-made catastrophe risk]] |
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[[Definition:Catastrophe modelling]] |
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[[Definition:Catastrophe model]] |
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[[Definition:Return period]] |
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[[Definition:Probable maximum loss curve]] |
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[[Definition:Exceedance probability curve]] |
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[[Definition:Aggregate exceedance probability (AEP)]] |
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[[Definition:Occurrence exceedance probability (OEP)]] |
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[[Definition:Average annual loss (AAL)]] |
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[[Definition:Tail value at risk (TVaR)]] |
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[[Definition:Value at risk (VaR)]] |
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[[Definition:Stochastic modelling]] |
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[[Definition:Deterministic scenario]] |
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[[Definition:Realistic disaster scenario (RDS)]] |
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[[Definition:Stress test]] |
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[[Definition:Scenario analysis]] |
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[[Definition:Accumulation control]] |
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[[Definition:Clash risk]] |
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[[Definition:Premium]] |
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[[Definition:Gross written premium (GWP)]] |
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[[Definition:Net written premium (NWP)]] |
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[[Definition:Gross earned premium (GEP)]] |
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[[Definition:Net earned premium (NEP)]] |
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[[Definition:Unearned premium]] |
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[[Definition:Unearned premium reserve (UPR)]] |
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[[Definition:Earned premium]] |
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[[Definition:Written premium]] |
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[[Definition:Premium income]] |
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[[Definition:Premium volume]] |
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[[Definition:Premium rate]] |
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[[Definition:Premium rating]] |
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[[Definition:Rate adequacy]] |
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[[Definition:Rate level]] |
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[[Definition:Rate change]] |
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[[Definition:Rate increase]] |
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[[Definition:Rate reduction]] |
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[[Definition:Rate hardening]] |
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[[Definition:Rate softening]] |
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[[Definition:Rating factor]] |
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[[Definition:Rating algorithm]] |
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[[Definition:Rating model]] |
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[[Definition:Rating table]] |
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[[Definition:Rating basis]] |
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[[Definition:Rating class]] |
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[[Definition:Rating plan]] |
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[[Definition:Base rate]] |
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[[Definition:Base premium]] |
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[[Definition:Technical rate]] |
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[[Definition:Technical price]] |
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[[Definition:Technical premium]] |
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[[Definition:Manual rate]] |
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[[Definition:Indicated rate]] |
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[[Definition:Target rate]] |
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[[Definition:Minimum premium]] |
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[[Definition:Deposit premium]] |
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[[Definition:Adjustable premium]] |
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[[Definition:Provisional premium]] |
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[[Definition:Flat premium]] |
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[[Definition:Annual premium]] |
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[[Definition:Additional premium]] |
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[[Definition:Return premium]] |
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[[Definition:Reinstatement premium]] |
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[[Definition:Short-rate premium]] |
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[[Definition:Pro rata premium]] |
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[[Definition:Minimum and deposit premium (M&D)]] |
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[[Definition:Burning cost]] |
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[[Definition:Burning cost ratio]] |
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[[Definition:Experience rating]] |
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[[Definition:Exposure rating]] |
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[[Definition:Schedule rating]] |
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[[Definition:Judgement rating (also judgment rating)]] |
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[[Definition:Community rating]] |
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[[Definition:Merit rating]] |
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[[Definition:Retrospective rating]] |
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[[Definition:Prospective rating]] |
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[[Definition:Composite rating]] |
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[[Definition:Class rating]] |
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[[Definition:Individual risk rating]] |
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[[Definition:Loss rating]] |
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[[Definition:Credibility weighting]] |
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[[Definition:Credibility factor]] |
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[[Definition:Actuarial pricing]] |
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[[Definition:Actuarial analysis]] |
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[[Definition:Loss cost]] |
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[[Definition:Pure premium]] |
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[[Definition:Risk premium]] |
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[[Definition:Loaded premium]] |
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[[Definition:Loading]] |
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[[Definition:Expense loading]] |
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[[Definition:Catastrophe loading]] |
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[[Definition:Profit loading]] |
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[[Definition:Contingency loading]] |
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[[Definition:Loss ratio (L/R)]] |
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[[Definition:Incurred loss ratio]] |
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[[Definition:Ultimate loss ratio]] |
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[[Definition:Attritional loss ratio]] |
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[[Definition:Expected loss ratio (ELR)]] |
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[[Definition:Expense ratio]] |
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[[Definition:Combined ratio]] |
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[[Definition:Combined operating ratio]] |
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[[Definition:Operating ratio]] |
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[[Definition:Commission ratio]] |
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[[Definition:Acquisition cost ratio]] |
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[[Definition:Net loss ratio]] |
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[[Definition:Gross loss ratio]] |
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[[Definition:Loss development]] |
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[[Definition:Loss development factor (LDF)]] |
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[[Definition:Loss triangle]] |
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[[Definition:Incurred but not reported reserve (IBNR)]] |
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[[Definition:Large loss]] |
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[[Definition:Attritional loss]] |
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[[Definition:Frequency]] |
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[[Definition:Severity]] |
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[[Definition:Loss frequency]] |
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[[Definition:Loss severity]] |
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[[Definition:Loss trend]] |
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[[Definition:Loss volatility]] |
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[[Definition:Loss history]] |
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[[Definition:Loss experience]] |
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[[Definition:Claims experience]] |
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[[Definition:Loss record]] |
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[[Definition:Bordereau]] |
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[[Definition:Premium bordereau]] |
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[[Definition:Claims bordereau]] |
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[[Definition:Policy]] |
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[[Definition:Insurance policy]] |
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[[Definition:Policy form]] |
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[[Definition:Policy wording]] |
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[[Definition:Policy condition]] |
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[[Definition:Policy term]] |
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[[Definition:Policy period]] |
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[[Definition:Policy inception]] |
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[[Definition:Policy expiry]] |
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[[Definition:Policy limit]] |
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[[Definition:Limit of liability]] |
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[[Definition:Limit of indemnity]] |
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[[Definition:Aggregate limit]] |
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[[Definition:Per occurrence limit]] |
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[[Definition:Per claim limit]] |
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[[Definition:Annual aggregate limit]] |
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[[Definition:Sublimit]] |
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[[Definition:Inner limit]] |
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[[Definition:Combined single limit (CSL)]] |
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[[Definition:Split limit]] |
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[[Definition:Blanket limit]] |
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[[Definition:Shared limit]] |
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[[Definition:Excess of loss]] |
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[[Definition:Excess point]] |
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[[Definition:Attachment point]] |
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[[Definition:Self-insured retention (SIR)]] |
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[[Definition:Deductible]] |
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[[Definition:Aggregate deductible]] |
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[[Definition:Per occurrence deductible]] |
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[[Definition:Franchise deductible]] |
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[[Definition:Waiting period (also elimination period)]] |
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[[Definition:Retention]] |
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[[Definition:Net retention]] |
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[[Definition:Co-insurance]] |
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[[Definition:Co-insurance clause]] |
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[[Definition:Average clause]] |
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[[Definition:Condition of average]] |
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[[Definition:Indemnity]] |
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[[Definition:Principle of indemnity]] |
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[[Definition:Sum insured]] |
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[[Definition:Insurable value]] |
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[[Definition:Agreed value]] |
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[[Definition:Replacement value]] |
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[[Definition:Actual cash value]] |
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[[Definition:Market value]] |
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[[Definition:First loss]] |
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[[Definition:Total loss]] |
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[[Definition:Partial loss]] |
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[[Definition:Constructive total loss]] |
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[[Definition:Under-insurance]] |
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[[Definition:Over-insurance]] |
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[[Definition:Insurable interest]] |
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[[Definition:Utmost good faith (uberrima fides)]] |
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[[Definition:Duty of disclosure]] |
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[[Definition:Material fact]] |
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[[Definition:Material misrepresentation]] |
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[[Definition:Non-disclosure]] |
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[[Definition:Warranty]] |
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[[Definition:Condition precedent]] |
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[[Definition:Subrogation]] |
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[[Definition:Contribution]] |
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[[Definition:Proximate cause]] |
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[[Definition:Fortuitous event]] |
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[[Definition:Peril]] |
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[[Definition:Named peril]] |
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[[Definition:All-risk coverage (also all-risks)]] |
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[[Definition:Exclusion]] |
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[[Definition:Exclusion clause]] |
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[[Definition:General exclusion]] |
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[[Definition:Specific exclusion]] |
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[[Definition:Absolute exclusion]] |
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[[Definition:Standard exclusion]] |
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[[Definition:War exclusion]] |
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[[Definition:Terrorism exclusion]] |
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[[Definition:Nuclear exclusion]] |
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[[Definition:Cyber exclusion]] |
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[[Definition:Pollution exclusion]] |
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[[Definition:Communicable disease exclusion]] |
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[[Definition:Pandemic exclusion]] |
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[[Definition:Sanction exclusion]] |
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[[Definition:Sanction limitation and exclusion clause (SLEC)]] |
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[[Definition:Asbestos exclusion]] |
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[[Definition:Wear and tear exclusion]] |
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[[Definition:Gradual deterioration exclusion]] |
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[[Definition:Endorsement (also rider)]] |
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[[Definition:Policy endorsement]] |
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[[Definition:Extension]] |
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[[Definition:Extension of coverage]] |
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[[Definition:Coverage extension]] |
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[[Definition:Broadening endorsement]] |
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[[Definition:Restrictive endorsement]] |
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[[Definition:Manuscript endorsement]] |
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[[Definition:Standard endorsement]] |
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[[Definition:Coverage]] |
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[[Definition:Scope of coverage]] |
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[[Definition:Coverage grant]] |
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[[Definition:Coverage trigger]] |
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[[Definition:Coverage part]] |
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[[Definition:Coverage territory]] |
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[[Definition:Territorial scope]] |
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[[Definition:Worldwide coverage]] |
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[[Definition:Jurisdiction clause]] |
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[[Definition:Choice of law clause]] |
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[[Definition:Arbitration clause]] |
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[[Definition:Service of suit clause]] |
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[[Definition:Claims-made coverage]] |
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[[Definition:Claims-made and reported]] |
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[[Definition:Occurrence-based coverage]] |
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[[Definition:Discovery period]] |
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[[Definition:Extended reporting period (ERP)]] |
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[[Definition:Retroactive date]] |
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[[Definition:Prior acts coverage]] |
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[[Definition:Sunset clause]] |
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[[Definition:Losses occurring basis]] |
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[[Definition:Risks attaching basis]] |
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[[Definition:Claims-made basis]] |
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[[Definition:Inception date]] |
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[[Definition:Expiration date]] |
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[[Definition:Continuous coverage]] |
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[[Definition:Renewal]] |
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[[Definition:Policy renewal]] |
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[[Definition:Renewal terms]] |
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[[Definition:Renewal retention]] |
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[[Definition:Non-renewal]] |
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[[Definition:Cancellation]] |
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[[Definition:Mid-term cancellation]] |
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[[Definition:Flat cancellation]] |
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[[Definition:Short-rate cancellation]] |
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[[Definition:Pro rata cancellation]] |
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[[Definition:Notice of cancellation]] |
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[[Definition:Reinstatement]] |
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[[Definition:New business]] |
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[[Definition:New business submission]] |
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[[Definition:Renewal business]] |
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[[Definition:Quote]] |
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[[Definition:Quotation]] |
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[[Definition:Indication]] |
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[[Definition:Firm order]] |
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[[Definition:Binder]] |
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[[Definition:Cover note]] |
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[[Definition:Certificate of insurance]] |
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[[Definition:Declaration page]] |
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[[Definition:Schedule (policy schedule)]] |
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[[Definition:Proposal form]] |
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[[Definition:Application]] |
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[[Definition:Statement of fact]] |
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[[Definition:Warranty statement]] |
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[[Definition:Representation]] |
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[[Definition:Slip]] |
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[[Definition:Market reform contract (MRC)]] |
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[[Definition:Placing slip]] |
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[[Definition:Signing]] |
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[[Definition:Closing]] |
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[[Definition:Line]] |
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[[Definition:Signed line]] |
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[[Definition:Written line]] |
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[[Definition:Lead line]] |
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[[Definition:Lead underwriter]] |
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[[Definition:Following underwriter]] |
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[[Definition:Following market]] |
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[[Definition:Subscription market]] |
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[[Definition:Co-lead]] |
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[[Definition:Stamp]] |
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[[Definition:Scratch]] |
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[[Definition:Firm order terms (FOT)]] |
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[[Definition:Gross line]] |
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[[Definition:Net line]] |
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[[Definition:Vertical placement]] |
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[[Definition:Horizontal placement]] |
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[[Definition:Market placement]] |
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[[Definition:Oversubscription]] |
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[[Definition:Signing down]] |
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[[Definition:Bureau signing]] |
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[[Definition:Premium payment warranty clause]] |
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[[Definition:Premium payment condition]] |
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[[Definition:Broker]] |
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[[Definition:Insurance broker]] |
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[[Definition:Reinsurance broker]] |
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[[Definition:Placing broker]] |
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[[Definition:Producing broker]] |
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[[Definition:Wholesale broker]] |
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[[Definition:Lloyd's broker]] |
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[[Definition:Managing general agent (MGA)]] |
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[[Definition:Managing general underwriter (MGU)]] |
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[[Definition:Delegated underwriting authority (DUA)]] |
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[[Definition:Binding authority]] |
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[[Definition:Binding authority agreement (also binder agreement)]] |
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[[Definition:Coverholder]] |
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[[Definition:Third-party administrator (TPA)]] |
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[[Definition:Delegated authority]] |
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[[Definition:Delegated claims authority]] |
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[[Definition:Letter of authority (LOA)]] |
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[[Definition:Lineslip]] |
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[[Definition:Consortium]] |
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[[Definition:Facility]] |
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[[Definition:Programme (also program)]] |
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[[Definition:Treaty]] |
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[[Definition:Obligatory treaty]] |
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[[Definition:Facultative placement]] |
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[[Definition:Facultative obligatory treaty (fac-ob)]] |
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[[Definition:Proportional treaty]] |
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[[Definition:Non-proportional treaty]] |
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[[Definition:Quota share treaty]] |
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[[Definition:Surplus treaty]] |
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[[Definition:Excess of loss treaty (XoL)]] |
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[[Definition:Stop loss treaty (also aggregate stop loss)]] |
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[[Definition:Catastrophe excess of loss (cat XoL)]] |
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[[Definition:Per risk excess of loss]] |
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[[Definition:Per occurrence excess of loss]] |
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[[Definition:Reinsurance]] |
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[[Definition:Ceded reinsurance]] |
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[[Definition:Assumed reinsurance]] |
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[[Definition:Retrocession]] |
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[[Definition:Retrocessionaire]] |
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[[Definition:Cession]] |
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[[Definition:Ceding commission]] |
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[[Definition:Profit commission]] |
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[[Definition:Sliding scale commission]] |
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[[Definition:Override commission]] |
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[[Definition:Brokerage]] |
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[[Definition:Acquisition cost]] |
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[[Definition:Net cost]] |
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[[Definition:Reinsurance premium]] |
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[[Definition:Reinsurance rate]] |
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[[Definition:Reinsurance recovery]] |
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[[Definition:Reinsurance recoverables]] |
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[[Definition:Reinsurance security]] |
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[[Definition:Reinsurer credit risk]] |
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[[Definition:Reinsurance panel]] |
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[[Definition:Reinsurance programme]] |
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[[Definition:Layer]] |
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[[Definition:Layered programme]] |
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[[Definition:Primary layer]] |
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[[Definition:Working layer]] |
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[[Definition:Excess layer]] |
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[[Definition:Buffer layer]] |
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[[Definition:Catastrophe layer]] |
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[[Definition:Top and drop]] |
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[[Definition:Swing-rated cover]] |
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[[Definition:Loss corridor]] |
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[[Definition:Loss participation]] |
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[[Definition:Annual aggregate deductible (AAD)]] |
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[[Definition:Annual aggregate limit (AAL)]] |
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[[Definition:Reinstatement (reinsurance)]] |
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[[Definition:Reinstatement provision]] |
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[[Definition:Free reinstatement]] |
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[[Definition:Paid reinstatement]] |
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[[Definition:Hours clause]] |
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[[Definition:Occurrence definition]] |
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[[Definition:Event definition]] |
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[[Definition:Event limit]] |
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[[Definition:Indexation clause]] |
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[[Definition:Stability clause]] |
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[[Definition:Sunset clause (reinsurance)]] |
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[[Definition:Cut-through clause]] |
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[[Definition:Insolvency clause]] |
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[[Definition:Errors and omissions clause]] |
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[[Definition:Follow the fortunes]] |
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[[Definition:Follow the settlements]] |
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[[Definition:Losses occurring during]] |
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[[Definition:Risks attaching during]] |
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[[Definition:Class of business]] |
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[[Definition:Line of business (LoB)]] |
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[[Definition:Book of business]] |
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[[Definition:Portfolio]] |
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[[Definition:Portfolio transfer]] |
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[[Definition:Loss portfolio transfer (LPT)]] |
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[[Definition:Adverse development cover (ADC)]] |
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[[Definition:Run-off]] |
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[[Definition:Run-off portfolio]] |
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[[Definition:Novation]] |
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[[Definition:Commutation]] |
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[[Definition:Property insurance]] |
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[[Definition:Casualty insurance (also liability insurance)]] |
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[[Definition:General liability insurance]] |
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[[Definition:Professional liability insurance (also professional indemnity)]] |
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[[Definition:Directors and officers liability insurance (D&O)]] |
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[[Definition:Errors and omissions insurance (E&O)]] |
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[[Definition:Employers' liability insurance]] |
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[[Definition:Workers' compensation insurance]] |
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[[Definition:Product liability insurance]] |
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[[Definition:Public liability insurance]] |
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[[Definition:Commercial general liability (CGL)]] |
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[[Definition:Excess liability insurance]] |
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[[Definition:Umbrella liability insurance]] |
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[[Definition:Cyber liability insurance]] |
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[[Definition:Environmental liability insurance]] |
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[[Definition:Marine insurance]] |
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[[Definition:Hull insurance]] |
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[[Definition:Cargo insurance]] |
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[[Definition:Protection and indemnity insurance (P&I)]] |
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[[Definition:Aviation insurance]] |
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[[Definition:Energy insurance]] |
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[[Definition:Construction insurance]] |
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[[Definition:Engineering insurance]] |
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[[Definition:Contractor's all risks insurance (CAR)]] |
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[[Definition:Erection all risks insurance (EAR)]] |
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[[Definition:Delay in start-up insurance (DSU)]] |
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[[Definition:Advance loss of profits insurance (ALOP)]] |
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[[Definition:Business interruption insurance (BI)]] |
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[[Definition:Contingent business interruption insurance]] |
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[[Definition:Loss of profits insurance]] |
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[[Definition:Credit insurance]] |
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[[Definition:Surety bond]] |
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[[Definition:Trade credit insurance]] |
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[[Definition:Political risk insurance]] |
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[[Definition:Kidnap and ransom insurance (K&R)]] |
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[[Definition:Terrorism insurance]] |
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[[Definition:Motor insurance]] |
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[[Definition:Fleet insurance]] |
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[[Definition:Personal lines]] |
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[[Definition:Commercial lines]] |
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[[Definition:Specialty lines]] |
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[[Definition:Financial lines]] |
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[[Definition:Accident and health insurance (A&H)]] |
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[[Definition:Life insurance]] |
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[[Definition:Group insurance]] |
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[[Definition:Parametric insurance]] |
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[[Definition:Index-based insurance]] |
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[[Definition:Captive insurance]] |
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[[Definition:Captive insurer]] |
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[[Definition:Fronting]] |
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[[Definition:Fronting insurer]] |
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[[Definition:Fronting arrangement]] |
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[[Definition:Risk-bearing entity]] |
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[[Definition:Insured]] |
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[[Definition:Named insured]] |
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[[Definition:Additional insured]] |
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[[Definition:Policyholder]] |
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[[Definition:First named insured]] |
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[[Definition:Certificate holder]] |
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[[Definition:Loss payee]] |
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[[Definition:Beneficiary]] |
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[[Definition:Claimant]] |
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[[Definition:Third party]] |
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[[Definition:Insurer]] |
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[[Definition:Carrier]] |
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[[Definition:Underwriter]] |
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[[Definition:Primary insurer]] |
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[[Definition:Excess insurer]] |
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[[Definition:Surplus lines insurer (also non-admitted insurer)]] |
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[[Definition:Admitted insurer]] |
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[[Definition:Lloyd's of London]] |
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[[Definition:Lloyd's syndicate]] |
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[[Definition:Lloyd's managing agent]] |
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[[Definition:Syndicate]] |
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[[Definition:Insurance pool]] |
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[[Definition:Mutual insurer]] |
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[[Definition:Reciprocal exchange]] |
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[[Definition:Insurance company rating]] |
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[[Definition:Financial strength rating (FSR)]] |
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[[Definition:Credit rating (insurer)]] |
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[[Definition:Security rating]] |
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[[Definition:A.M. Best rating]] |
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[[Definition:Solvency]] |
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[[Definition:Solvency margin]] |
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[[Definition:Solvency capital requirement (SCR)]] |
|||
[[Definition:Minimum capital requirement (MCR)]] |
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[[Definition:Risk-based capital (RBC)]] |
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[[Definition:Own risk and solvency assessment (ORSA)]] |
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[[Definition:Capital adequacy]] |
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[[Definition:Regulatory capital]] |
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[[Definition:Economic capital]] |
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[[Definition:Technical provision]] |
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[[Definition:Reserve]] |
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[[Definition:Loss reserve]] |
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[[Definition:Premium reserve]] |
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[[Definition:Claims reserve]] |
|||
[[Definition:Catastrophe reserve]] |
|||
[[Definition:Equalisation reserve]] |
|||
[[Definition:Reserve adequacy]] |
|||
[[Definition:Reserve strengthening]] |
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[[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]] |
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[[Definition:Development pattern]] |
|||
[[Definition:Ultimate loss]] |
|||
[[Definition:Loss pick]] |
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[[Definition:Initial expected loss ratio (IELR)]] |
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[[Definition:A priori loss ratio]] |
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[[Definition:Booked loss ratio]] |
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[[Definition:Paid loss]] |
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[[Definition:Incurred loss]] |
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[[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]] |
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[[Definition:Predictive analytics]] |
[[Definition:Predictive analytics]] |
||
[[Definition: |
[[Definition:Predictive modelling]] |
||
[[Definition:Algorithmic underwriting]] |
[[Definition:Algorithmic underwriting]] |
||
[[Definition:Automated |
[[Definition:Automated claims processing]] |
||
[[Definition: |
[[Definition:Fraud detection]] |
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[[Definition: |
[[Definition:Optical character recognition (OCR)]] |
||
[[Definition: |
[[Definition:Robotic process automation (RPA)]] |
||
[[Definition: |
[[Definition:Chatbot]] |
||
[[Definition: |
[[Definition:Large language model (LLM)]] |
||
[[Definition: |
[[Definition:Generative artificial intelligence (GenAI)]] |
||
[[Definition:Neural network]] |
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[[Definition:Supervised learning]] |
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[[Definition:Unsupervised learning]] |
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[[Definition:Training data]] |
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[[Definition:Algorithmic bias]] |
|||
[[Definition:Explainability]] |
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[[Definition:Black box model]] |
|||
[[Definition:Model validation]] |
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[[Definition:Telematics]] |
[[Definition:Telematics]] |
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[[Definition: |
[[Definition:Sentiment analysis]] |
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[[Definition: |
[[Definition:Decision tree]] |
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[[Definition: |
[[Definition:Data mining]] |
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[[Definition: |
[[Definition:Straight-through processing (STP)]] |
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[[Definition: |
[[Definition:Intelligent document processing (IDP)]] |
||
[[Definition: |
[[Definition:Digital twin]] |
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[[Definition:Premium audit]] |
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[[Definition:Declared value]] |
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[[Definition:Adjustable policy]] |
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[[Definition: |
[[Definition:Request for proposal (RFP)]] |
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[[Definition: |
[[Definition:Request for information (RFI)]] |
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[[Definition: |
[[Definition:Request for quotation (RFQ)]] |
||
[[Definition: |
[[Definition:Vendor management]] |
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[[Definition: |
[[Definition:Third-party risk management (TPRM)]] |
||
[[Definition: |
[[Definition:Service level agreement (SLA)]] |
||
[[Definition: |
[[Definition:Key performance indicator (KPI)]] |
||
[[Definition: |
[[Definition:Due diligence]] |
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[[Definition: |
[[Definition:Outsourcing]] |
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[[Definition: |
[[Definition:Insourcing]] |
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[[Definition: |
[[Definition:Preferred supplier]] |
||
[[Definition: |
[[Definition:Supplier evaluation]] |
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[[Definition: |
[[Definition:Total cost of ownership (TCO)]] |
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[[Definition: |
[[Definition:Procurement lifecycle]] |
||
[[Definition: |
[[Definition:Contract management]] |
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[[Definition: |
[[Definition:Master service agreement (MSA)]] |
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[[Definition: |
[[Definition:Statement of work (SOW)]] |
||
[[Definition: |
[[Definition:Spend analysis]] |
||
[[Definition: |
[[Definition:Category management]] |
||
[[Definition: |
[[Definition:Strategic sourcing]] |
||
[[Definition: |
[[Definition:Competitive tendering]] |
||
[[Definition: |
[[Definition:Vendor lock-in]] |
||
[[Definition: |
[[Definition:Subcontracting]] |
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[[Definition: |
[[Definition:Non-disclosure agreement (NDA)]] |
||
[[Definition: |
[[Definition:Purchase order (PO)]] |
||
[[Definition: |
[[Definition:Procure-to-pay (P2P)]] |
||
[[Definition: |
[[Definition:Supplier onboarding]] |
||
[[Definition:Hard market]] |
|||
[[Definition:Soft market]] |
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[[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:Benchmarking]] |
||
[[Definition: |
[[Definition:Tail spend]] |
||
[[Definition: |
[[Definition:Business continuity planning (BCP)]] |
||
[[Definition: |
[[Definition:Sole sourcing]] |
||
[[Definition: |
[[Definition:Single sourcing]] |
||
[[Definition: |
[[Definition:Multi-sourcing]] |
||
[[Definition: |
[[Definition:Nearshoring]] |
||
[[Definition: |
[[Definition:Offshoring]] |
||
[[Definition: |
[[Definition:Onshoring]] |
||
[[Definition: |
[[Definition:Managed service provider (MSP)]] |
||
[[Definition: |
[[Definition:Business process outsourcing (BPO)]] |
||
[[Definition: |
[[Definition:Information technology outsourcing (ITO)]] |
||
[[Definition: |
[[Definition:Vendor consolidation]] |
||
[[Definition: |
[[Definition:Supplier diversity]] |
||
[[Definition: |
[[Definition:Framework agreement]] |
||
[[Definition: |
[[Definition:Blanket purchase agreement (BPA)]] |
||
[[Definition: |
[[Definition:Rate card]] |
||
[[Definition: |
[[Definition:Cost-benefit analysis (CBA)]] |
||
[[Definition: |
[[Definition:Return on investment (ROI)]] |
||
[[Definition: |
[[Definition:Value for money (VFM)]] |
||
[[Definition: |
[[Definition:Negotiation strategy]] |
||
[[Definition: |
[[Definition:Best and final offer (BAFO)]] |
||
[[Definition: |
[[Definition:Invitation to tender (ITT)]] |
||
[[Definition: |
[[Definition:Evaluation criteria]] |
||
[[Definition: |
[[Definition:Weighted scoring model]] |
||
[[Definition: |
[[Definition:Proof of concept (POC)]] |
||
[[Definition: |
[[Definition:Pilot programme]] |
||
[[Definition: |
[[Definition:Vendor risk assessment]] |
||
[[Definition: |
[[Definition:Supplier scorecard]] |
||
[[Definition: |
[[Definition:Contract renewal]] |
||
[[Definition: |
[[Definition:Auto-renewal clause]] |
||
[[Definition: |
[[Definition:Termination for convenience]] |
||
[[Definition: |
[[Definition:Exit strategy]] |
||
[[Definition: |
[[Definition:Transition plan]] |
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[[Definition: |
[[Definition:Change control]] |
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[[Definition: |
[[Definition:Scope creep]] |
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[[Definition: |
[[Definition:Escalation procedure]] |
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[[Definition: |
[[Definition:Governance framework]] |
||
[[Definition: |
[[Definition:Steering committee]] |
||
[[Definition: |
[[Definition:Stakeholder management]] |
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[[Definition: |
[[Definition:Demand management]] |
||
[[Definition: |
[[Definition:Specification]] |
||
[[Definition: |
[[Definition:Compliance requirement]] |
||
[[Definition: |
[[Definition:Regulatory outsourcing obligation]] |
||
[[Definition: |
[[Definition:Material outsourcing]] |
||
[[Definition: |
[[Definition:Critical service provider]] |
||
[[Definition: |
[[Definition:Concentration risk]] |
||
[[Definition: |
[[Definition:Fourth-party risk]] |
||
[[Definition: |
[[Definition:Supply chain risk]] |
||
[[Definition: |
[[Definition:Right to audit clause]] |
||
[[Definition: |
[[Definition:Data processing agreement (DPA)]] |
||
[[Definition: |
[[Definition:Intellectual property rights (IPR)]] |
||
[[Definition: |
[[Definition:Indemnification clause]] |
||
[[Definition: |
[[Definition:Limitation of liability]] |
||
[[Definition: |
[[Definition:Force majeure]] |
||
[[Definition: |
[[Definition:Liquidated damages]] |
||
[[Definition: |
[[Definition:Penalty clause]] |
||
[[Definition: |
[[Definition:Earnback mechanism]] |
||
[[Definition: |
[[Definition:Gain-sharing arrangement]] |
||
[[Definition: |
[[Definition:Fixed-price contract]] |
||
[[Definition: |
[[Definition:Time-and-materials contract (T&M)]] |
||
[[Definition: |
[[Definition:Cost-plus contract]] |
||
[[Definition: |
[[Definition:Outcome-based contract]] |
||
[[Definition: |
[[Definition:Maverick spend]] |
||
[[Definition: |
[[Definition:Spend under management]] |
||
[[Definition: |
[[Definition:Savings target]] |
||
[[Definition: |
[[Definition:Budget holder]] |
||
[[Definition: |
[[Definition:Approval workflow]] |
||
[[Definition: |
[[Definition:Delegated authority]] |
||
[[Definition: |
[[Definition:Procurement policy]] |
||
[[Definition: |
[[Definition:Ethical sourcing]] |
||
[[Definition: |
[[Definition:Environmental, social, and governance criteria (ESG)]] |
||
[[Definition: |
[[Definition:Sustainable procurement]] |
||
[[Definition: |
[[Definition:Vendor performance review]] |
||
[[Definition: |
[[Definition:Continuous improvement]] |
||
[[Definition: |
[[Definition:Market analysis]] |
||
[[Definition: |
[[Definition:Make-or-buy decision]] |
||
[[Definition: |
[[Definition:Incumbent supplier]] |
||
[[Definition:Statement of values]] |
|||
[[Definition: |
[[Definition:Gross written premiums (GWP)]] |
||
[[Definition: |
[[Definition:Combined ratio (CR)]] |
||
[[Definition: |
[[Definition:Underlying earnings]] |
||
[[Definition: |
[[Definition:Underlying earnings per share (UEPS)]] |
||
[[Definition: |
[[Definition:Underlying return on equity (URoE)]] |
||
[[Definition: |
[[Definition:Net income]] |
||
[[Definition: |
[[Definition:Solvency II ratio]] |
||
[[Definition: |
[[Definition:Eligible own funds (EOF)]] |
||
[[Definition: |
[[Definition:Contractual service margin (CSM)]] |
||
[[Definition: |
[[Definition:New business value (NBV)]] |
||
[[Definition: |
[[Definition:New business value margin]] |
||
[[Definition: |
[[Definition:Present value of expected premiums (PVEP)]] |
||
[[Definition: |
[[Definition:New business contractual service margin (NB CSM)]] |
||
[[Definition: |
[[Definition:CSM release]] |
||
[[Definition: |
[[Definition:Technical margin]] |
||
[[Definition: |
[[Definition:Technical experience]] |
||
[[Definition: |
[[Definition:Net flows]] |
||
[[Definition: |
[[Definition:Unit-linked]] |
||
[[Definition: |
[[Definition:General account (GA)]] |
||
[[Definition: |
[[Definition:Property and casualty insurance (P&C)]] |
||
[[Definition: |
[[Definition:Life and health insurance (L&H)]] |
||
[[Definition: |
[[Definition:Commercial lines]] |
||
[[Definition: |
[[Definition:Personal lines]] |
||
[[Definition: |
[[Definition:Reinsurance]] |
||
[[Definition: |
[[Definition:Managing general agent (MGA)]] |
||
[[Definition: |
[[Definition:Natural catastrophe charges (Nat Cat)]] |
||
[[Definition: |
[[Definition:Prior years' reserve development]] |
||
[[Definition: |
[[Definition:Claims reserve]] |
||
[[Definition: |
[[Definition:Unwind of discount]] |
||
[[Definition: |
[[Definition:Loss ratio]] |
||
[[Definition: |
[[Definition:Expense ratio]] |
||
[[Definition: |
[[Definition:Current year loss]] |
||
[[Definition: |
[[Definition:Short-tail lines]] |
||
[[Definition: |
[[Definition:Long-tail lines]] |
||
[[Definition: |
[[Definition:Casualty insurance]] |
||
[[Definition: |
[[Definition:Financial lines]] |
||
[[Definition: |
[[Definition:Protection]] |
||
[[Definition: |
[[Definition:Savings insurance]] |
||
[[Definition: |
[[Definition:Endowment product]] |
||
[[Definition: |
[[Definition:Single premium]] |
||
[[Definition: |
[[Definition:Whole-life product]] |
||
[[Definition: |
[[Definition:Bancassurance]] |
||
[[Definition: |
[[Definition:Direct insurance]] |
||
[[Definition: |
[[Definition:Motor insurance]] |
||
[[Definition: |
[[Definition:Fire insurance]] |
||
[[Definition: |
[[Definition:Workers' compensation]] |
||
[[Definition: |
[[Definition:Group life insurance]] |
||
[[Definition: |
[[Definition:Health insurance]] |
||
[[Definition: |
[[Definition:Complementary health insurance]] |
||
[[Definition: |
[[Definition:Retail motor]] |
||
[[Definition: |
[[Definition:Social inflation]] |
||
[[Definition: |
[[Definition:Market softening]] |
||
[[Definition: |
[[Definition:Pricing cycle]] |
||
[[Definition: |
[[Definition:Capital-light product]] |
||
[[Definition: |
[[Definition:Surrender]] |
||
[[Definition: |
[[Definition:Persistency]] |
||
[[Definition: |
[[Definition:Underwriting]] |
||
[[Definition: |
[[Definition:Pruning]] |
||
[[Definition: |
[[Definition:Earn-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]] |
|||
Latest revision as of 21:11, 19 March 2026
Definition:Artificial intelligence (AI) Definition:Machine learning (ML) Definition:Deep learning Definition:Natural language processing (NLP) Definition:Computer vision Definition:Predictive analytics Definition:Predictive modelling Definition:Algorithmic underwriting Definition:Automated claims processing Definition:Fraud detection Definition:Optical character recognition (OCR) Definition:Robotic process automation (RPA) Definition:Chatbot Definition:Large language model (LLM) Definition:Generative artificial 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:Sentiment analysis Definition:Decision tree Definition:Data mining Definition:Straight-through processing (STP) Definition:Intelligent document processing (IDP) Definition:Digital twin
Definition:Request for proposal (RFP) Definition:Request for information (RFI) Definition:Request for quotation (RFQ) Definition:Vendor management Definition:Third-party risk management (TPRM) Definition:Service level agreement (SLA) Definition:Key performance indicator (KPI) Definition:Due diligence Definition:Outsourcing Definition:Insourcing Definition:Preferred supplier Definition:Supplier evaluation Definition:Total cost of ownership (TCO) Definition:Procurement lifecycle Definition:Contract management Definition:Master service agreement (MSA) Definition:Statement of work (SOW) Definition:Spend analysis Definition:Category management Definition:Strategic sourcing Definition:Competitive tendering Definition:Vendor lock-in Definition:Subcontracting Definition:Non-disclosure agreement (NDA) Definition:Purchase order (PO) Definition:Procure-to-pay (P2P) Definition:Supplier onboarding Definition:Benchmarking Definition:Tail spend Definition:Business continuity planning (BCP) Definition:Sole sourcing Definition:Single sourcing Definition:Multi-sourcing Definition:Nearshoring Definition:Offshoring Definition:Onshoring Definition:Managed service provider (MSP) Definition:Business process outsourcing (BPO) Definition:Information technology outsourcing (ITO) Definition:Vendor consolidation Definition:Supplier diversity Definition:Framework agreement Definition:Blanket purchase agreement (BPA) Definition:Rate card Definition:Cost-benefit analysis (CBA) Definition:Return on investment (ROI) Definition:Value for money (VFM) Definition:Negotiation strategy Definition:Best and final offer (BAFO) Definition:Invitation to tender (ITT) Definition:Evaluation criteria Definition:Weighted scoring model Definition:Proof of concept (POC) Definition:Pilot programme Definition:Vendor risk assessment Definition:Supplier scorecard Definition:Contract renewal Definition:Auto-renewal clause Definition:Termination for convenience Definition:Exit strategy Definition:Transition plan Definition:Change control Definition:Scope creep Definition:Escalation procedure Definition:Governance framework Definition:Steering committee Definition:Stakeholder management Definition:Demand management Definition:Specification Definition:Compliance requirement Definition:Regulatory outsourcing obligation Definition:Material outsourcing Definition:Critical service provider Definition:Concentration risk Definition:Fourth-party risk Definition:Supply chain risk Definition:Right to audit clause Definition:Data processing agreement (DPA) Definition:Intellectual property rights (IPR) Definition:Indemnification clause Definition:Limitation of liability Definition:Force majeure Definition:Liquidated damages Definition:Penalty clause Definition:Earnback mechanism Definition:Gain-sharing arrangement Definition:Fixed-price contract Definition:Time-and-materials contract (T&M) Definition:Cost-plus contract Definition:Outcome-based contract Definition:Maverick spend Definition:Spend under management Definition:Savings target Definition:Budget holder Definition:Approval workflow Definition:Delegated authority Definition:Procurement policy Definition:Ethical sourcing Definition:Environmental, social, and governance criteria (ESG) Definition:Sustainable procurement Definition:Vendor performance review Definition:Continuous improvement Definition:Market analysis Definition:Make-or-buy decision Definition:Incumbent supplier
Definition:Gross written premiums (GWP) Definition:Combined ratio (CR) Definition:Underlying earnings Definition:Underlying earnings per share (UEPS) Definition:Underlying return on equity (URoE) Definition:Net income Definition:Solvency II ratio Definition:Eligible own funds (EOF) Definition:Contractual service margin (CSM) Definition:New business value (NBV) Definition:New business value margin Definition:Present value of expected premiums (PVEP) Definition:New business contractual service margin (NB CSM) Definition:CSM release Definition:Technical margin Definition:Technical experience Definition:Net flows Definition:Unit-linked Definition:General account (GA) Definition:Property and casualty insurance (P&C) Definition:Life and health insurance (L&H) Definition:Commercial lines Definition:Personal lines Definition:Reinsurance Definition:Managing general agent (MGA) Definition:Natural catastrophe charges (Nat Cat) Definition:Prior years' reserve development Definition:Claims reserve Definition:Unwind of discount Definition:Loss ratio Definition:Expense ratio Definition:Current year loss Definition:Short-tail lines Definition:Long-tail lines Definition:Casualty insurance Definition:Financial lines Definition:Protection Definition:Savings insurance Definition:Endowment product Definition:Single premium Definition:Whole-life product Definition:Bancassurance Definition:Direct insurance Definition:Motor insurance Definition:Fire insurance Definition:Workers' compensation Definition:Group life insurance Definition:Health insurance Definition:Complementary health insurance Definition:Retail motor Definition:Social inflation Definition:Market softening Definition:Pricing cycle Definition:Capital-light product Definition:Surrender Definition:Persistency Definition:Underwriting Definition:Pruning Definition:Earn-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