Search results
Glossary of insurance related terms used by Lloyd's and market participants. The following definitions are intended for general guidance. They do not override or qualify any definition that appears in any Lloyd’s byelaw or regulation, in any contract or in any other document.
Mar 10, 2020 · Whether you’re scanning your last medical bill or filing an automobile insurance claim, it’s good to know what all those terms mean. Keep reading to find a thorough list of abbreviations for the health and auto insurance industries.
- admin@yourdictionary.com
Mar 11, 2022 · Insurance terms and acronyms can be confusing. Discover our insurance glossary for definitions of common insurance jargon & terminology.
- Absolute Liability. Liability for damages even though fault or negligence cannot be proven. Certain situations create absolute liability for the manufacturer a product or the provider of a service.
- Accident. An event or occurrence which is unforeseen and unintended. Accidental is an important concept of risk for insurance. The more unlikely the accident or the occurrence, the less expensive it is to insure.
- Accident and Health Insurance. A type of coverage that pays benefits, when an accident occurrs or a medical problem arrises, sometimes including reimbursement for loss of income, in case of sickness, accidental injury, or accidental death.
- Accident Insurance. A form of health insurance against loss by accidental bodily injury.
NAIC’s consumer insurance glossary provides definitions of common insurance terms, helping consumers easily understand key concepts across health, auto, life, and home insurance. It is helpful for beginners and policyholders seeking explanations.
Jan 24, 2024 · If you've ever found yourself puzzled by insurance terminology, you're not alone. In this comprehensive guide, we'll break down 50 common insurance terms and explain what they mean in plain, understandable language. Understanding Insurance Jargon 1. Premiums
When you make an insurance claim, you may come across unfamiliar legal terms. Here we provide a brief explanation of the most common terms you may read in your insurance documents… ab initio: Literally ‘from its inception’; a breach of a condition which may lead an insurer to treat a policy as null and void.
