Definition:Broken links

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 Definition:Unearned premium reserve (UPR) Definition:Earned premium Definition:Written premium Definition:Ceded premium Definition:Retained premium Definition:Original premium 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:Distribution cost Definition:Direct writer Definition:Captive insurer 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:Commission ratio Definition:Net combined ratio Definition:Trade combined ratio Definition:Investment income ratio Definition:Return on equity (ROE) Definition:Risk-adjusted return on capital (RAROC) Definition:Economic capital 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:Case reserve Definition:Bulk reserve Definition:Catastrophe reserve Definition:Equalisation reserve Definition:Reserving adequacy Definition:Reserve margin Definition:Reserve release Definition:Reserve strengthening Definition:Prior-year development Definition:Favourable development Definition:Adverse development Definition:Triangulation Definition:Chain ladder method Definition:Bornhuetter-Ferguson method Definition:Paid loss development method Definition:Incurred loss development method Definition:Frequency-severity method Definition:Claims notification Definition:Claims handling Definition:Claims adjustment Definition:Claims settlement Definition:Claims leakage Definition:Bordereaux Definition:Premium bordereaux Definition:Claims bordereaux Definition:New business Definition:Renewal Definition:Renewal terms Definition:Renewal retention rate Definition:Lapse Definition:Non-renewal Definition:Mid-term cancellation Definition:Flat cancellation Definition:Pro-rata cancellation Definition:Short-rate cancellation Definition:Reinstatement (policy) Definition:Bound Definition:In-force policy Definition:Expired policy Definition:Inception date Definition:Effective date Definition:Expiry date (also: expiration date) Definition:Anniversary date Definition:Policy year Definition:Accident year Definition:Calendar year Definition:Treaty year Definition:Year of account Definition:Survey Definition:Risk survey Definition:Loss control Definition:Loss prevention Definition:Risk improvement Definition:Risk engineering Definition:Pre-risk survey Definition:Post-loss assessment Definition:Risk inspection Definition:Hazard identification Definition:Risk mapping Definition:Catastrophe modelling Definition:Exposure mapping Definition:Natural catastrophe (nat cat) Definition:Man-made catastrophe Definition:Peril region Definition:Zone Definition:Cresta zone Definition:Geocoding Definition:Loss model Definition:Vulnerability curve Definition:Exceedance probability curve (EP curve) Definition:Tail risk Definition:Correlation risk Definition:Clash Definition:Event limit Definition:Occurrence Definition:Event Definition:Hours clause Definition:Loss occurrence definition Definition:Aggregation clause Definition:Anti-stacking clause Definition:Batch clause Definition:Interlocking clause Definition:Sunset provision Definition:Severability clause Definition:Cross-liability clause Definition:Non-vitiation clause Definition:Cut-through clause Definition:Follow-the-leader clause Definition:Claims cooperation clause Definition:Claims control clause Definition:Claims notification clause Definition:Subjectivity Definition:Warranty (underwriting condition) Definition:Premium payment warranty Definition:Premium payment clause Definition:Several liability clause Definition:Joint and several liability Definition:Allocation of liability Definition:Primary and non-contributory endorsement Definition:Waiver of subrogation Definition:Hold harmless clause Definition:Indemnification clause Definition:Contractual liability Definition:Assumed liability Definition:Vicarious liability Definition:Strict liability Definition:Joint venture coverage Definition:Fiduciary liability insurance Definition:Retrospective premium adjustment Definition:Swing rating Definition:Loss-sensitive programme Definition:Profit-sharing arrangement Definition:No-claims discount (also: no-claims bonus) Definition:Bonus-malus system Definition:Deductible buyback Definition:Difference in conditions (DIC) Definition:Difference in limits (DIL) Definition:Layered programme Definition:Insurance programme structure Definition:Programme design Definition:Tower (insurance programme) Definition:Vertical placement Definition:Horizontal placement Definition:Primary layer Definition:Buffer layer 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