insurance terms and abbreviations

Learn insurance terms and abbreviations with free interactive flashcards. Consumer Driven Health Plan. Insurance company that actually underwrites and issues the insurance policy. A clause in insurance policies whereby, in the event of under-insurance, the claim paid out by the insurer is restricted to the same proportion of the loss as … Get the top FR abbreviation related to Insurance. The portion of the insurance … Insurance terms, definitions and explanations are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in individual insurance contracts, policies or declaration pages, which are controlling. Read this list of abbreviations to learn terms relevant to adding coverage to an automobile insurance policy. Comprehensive Physical Damage Coverage. A term used when an insurance company requests that you submit multiple repair estimates for consideration. Contact IRMI. To find out about additional terms, visit the Glossary page at the Infinity Insurance Knowledge Center. Such terms and availability may vary by state and exclusions may … The definitions are based on various insurance references. Adjuster A claims or insurance adjuster is employed by or acts on behalf of an insurance company to examine, evaluate and settle insurance … Term life policies are renewable but … The Federal Emergency Management Agency on Monday said it would make changes to the flood insurance program following the revelations that the private companies that handle claims have been shortchanging Hurricane Sandy homeowners. A term interchangeable with insurance but generally used in connection with life cover as assurance implies the certainty of an event and insurance the probability. The abbreviation is F.C. An initialism is where a long phrase is abbreviated to its initial letters but the letters are pronounced individually, not spoken as a word - for … International Risk Management Institute, Inc. 12222 Merit Drive, Suite 1600 Dallas, TX 75251-2266 (972) 960-7693 (800) 827-4242 Premium: The amount of money an insurance … AVERAGE. What does FR stand for in Insurance? STUDY. Terms of Cost, Insurance, and Freight (CIF) The contract terms of CIF define when the liability of the seller ends and the liability of the buyer begins. GLOSSARY OF COMMON INSURANCE TERMS Version 2.00 The following terms are commonly used in the insurance market and may well appear in your insurance policy arranged by us. AIP - Assigned Risk; BAP - Business Auto Policy; BI - Bodily Injury Liability Insurance ; BOP - Business Owners Policy; CISR - Certified Insurance Service Representative ; CFR - Certificate of Financial Responsibility … CHA. Doctrine of contra proferentem — Latin term referring to practice of reviewing courts to construe ambiguous insurance policy terms in favor of the insured policyholder. Some words and phrases may be defined differently by other … Policy period: The time your policy is in force from the effective date to the expiration date. This coverage is subject to the terms, limits and conditions of your policy contract. Terms and Abbreviations Frequently used terms and abbreviations in insurance , chartering and SHIPPING operations. We’re listing 10 commonly used insurance terms that you’ll benefit from knowing. & S clause in all Lloyd’s marine cargo policies … Most of the words listed are only abbreviated in certain contexts, esp. Urgent Care Provider - A provider of services for health problems that need medical help right away but are not emergency medical conditions. See more on the different types of life insurance. This list contains the most common abbreviations used in the OED. Use this list when talking to agents and shopping for insurance quotes online. 1. Insurance Terms & Abbreviations. There are a few common types of life insurance: term, final expense and permanent. COMMONLY USED ACRONYMS / ABBREVIATIONS AAA American Academy of Actuaries or American Agents Association AAC/MIS Americas Association of Cooperative/Mutual Insurance Societies (Formerly North American Association of the ICIF) AACB American Association for Consumer Benefits AACI American … A type of homeowner's insurance that meets the … A term used when an insurance company requests that you submit multiple repair estimates for consideration. Our insurance terms glossary is divided alphabetically by insurance terms in a quick reference guide to assist understanding the language commonly used by insurance companies. Published 10 December 2012 Last updated 26 July 2018 — see all updates Terms Commercial insurance is divided into two main categories: property insurance and casualty insurance. PLAY. An insurance coverage limit is selected by you and is the most an insurance company will pay for damages, injuries, or losses that apply to the coverage. Policy documents contain a number of insurance terms because they typically define the limitations of risk and liability on the insured and … Condition. This is a term most used with marine corgo insurance policies. Many of the terms you encounter when dealing with health insurance are not familiar. Conditions. Dealing with insurance companies involves a lot of confusing terms and insurance acronyms. It pays a benefit to a designated beneficiary only when the insured dies within that specified period which can be one, five, 10 or even 20 years. Free Insurance … Home How to use the OED Abbreviations. Limits. The most commonly used cargo insurance terms have been established by the International Chamber of Commerce Incoterms© link. Marine Insurance Terms and Abbreviations. This page provides an index of insurance terms and definitions that are commonly used in the insurance business. & S. clause. These definitions represent a common or general insurance and/or legal use of the term. Policyholder: The person who applied for, pays for, and is issued the insurance policy. Learn insurance terms and abbreviations ihmo with free interactive flashcards. Refer to our list of common insurance acronyms here to decipher your policy, claims letters, and more from all manner of insurance companies. Terms (Back to top) A B C D E F G H I … While these terms can be confusing, the better you understand them, the better you will be prepared to successfully gain coverage and access to the treatments that are right for you. The marine insurance term for "excluding war perils". … Health Details: Short-term Insurance - A type of health insurance that covers certain services for a set time period (6 months or less).Learn more about short-term insurance. Commercial … These definitions represent a common or general use of the term… Searchable database containing common marine acronyms, abbreviations, and dictionary about all subjects, with a focus on technical, chartering, boating, seawords telecommunications. Casualty Liability or loss resulting from an accident. CDHP. & S. and the standard clause used is generally referred to as the F.C. List of abbreviations; Abbreviation Meaning # fracture: A&E: accident and emergency: a.c. before meals: a.m., am, AM: morning: … There is more than one type of abbreviation. The definitions in this glossary are developed by the NAIC Research and Actuarial Department staff based on various insurance references. There is one common abbreviations of insurance… Property insurance provides coverage for property that is stolen, damaged, or destroyed by a covered peril. At an Extraordinary General Meeting of the members of Lloyd’s in June 1898 a resolution was passed to incorporate the F.C. Click on a letter to see the abbreviations beginning with that letter. This guidance will help you to understand any abbreviations or other terms in the information we send you. … Abbreviation > Term Word in meaning Term > Abbreviation ... New York State Public Employees and Retirees Long Term Care Insurance : OAIN: Online Auto Insurance News : OASDHI: Old Age, Survivors, Disability and Health Insurance Act : OASDI: Old Age Survivors Disability Insurance : OBIS: Online Brokerage Insurance … TriCare. –The Star-Ledger; Summary: Insurance Abbreviation. TERMS: What is "Average"? Loan/lease payoff coverage . The portion of the insurance contract which outlines the duties and responsibilities of both the insured and the insurance company. Claim Request by an insured for the insurance company to cover an incurred loss. No time lost from work: NCM: Nurse Case Management: NOV: … EPO (Exclusive Provider Organization): Member must stay in network for medical care (NO out-of-network benefits), Member may or may not be required to choose a PCP, Member may or may not be required to receive a … New terms will be added to the glossary over time. Common Health Insurance Terminology 101. Policy: A formal written insurance contract describing the term, coverage, premiums and deductibles. Insurance FR abbreviation meaning defined here. TERM INSURANCE A form of life insurance that covers the insured person for a certain period of time, the ìtermî that is specified in the policy. The term refers to the fact that the company carries (or assumes) certain risks for the policyholder. A claim may be … Light Duty – another term for transitional duty: LOV: Last office visit: LT: Lost Time: LTD: Long Term Disability: MD: Modified Duty – another term for transitional duty: MDA: Modified Duty Assignment: MMI: Maximum Medical Improvement: MO: Medical-Only, Med-Only. Health Insurance Terms Glossary | Medical Mutual. All are extremely important but on this first page, we have tried to explain in “plain English” what the most important and common terms … Condo Insurance. when used as a subject label or in a work title. Abbreviations. Pays for damage to your car from theft, vandalism, flood, fire or other covered perils. In order for the insured to be sure that the insured … The term "property insurance" includes many lines of available insurance. abbreviations for insurance terms An acronym is a new word created from the initial letters of a long name or phrase, for example, NATO (North Atlantic Treaty Organization). 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