279 relations: Accounting, ACORD, Actuarial science, Advertising, Age of Enlightenment, Agent of record, Aircraft, Airport, Allen baronets, Amicable Society for a Perpetual Assurance Office, Amish, Anabaptism, Ancient Greece, Ancient Rome, Annuity (American), Association of British Insurers, Aviation insurance, Babylonia, Basketball, Benefit society, Beveridge Report, Boiler insurance, Brethren in Christ Church, Builder's risk insurance, Building code, Business, Business interruption insurance, Business method patent, Business overhead expense disability insurance, Business owner's policy, Cancellation (insurance), Capital (economics), Captive insurance, Cash, Casualty insurance, Central Bank of Russia, Check mark, China, China Insurance Regulatory Commission, Christopher Wren, Civil service, Claims adjuster, Code of Hammurabi, Collateral protection insurance, Community, Condition of average, Consumer Federation of America, Contract, Credit card, Credit score, ..., Crime, Crop insurance, Data entry clerk, Decade, Deductible, Deep pocket, Defamation, Defense Base Act, Demutualization, Depression (economics), Directors and officers liability insurance, Disability insurance, Disaster, Discrimination, Divorce insurance, Down payment, Earthquake, Earthquake engineering, Earthquake insurance, Economics, Education, Edward Rowe Mores, Embezzlement, Endowment policy, ENHANCE International, Europe, European Union, Exclusion clause, Expatriate insurance, Federal Trade Commission, Fidelity bond, Financial Accounting Standards Board, Financial adviser, Financial intermediary, Financial reinsurance, Financial services, Financial Services Authority, Fire, Flood insurance, Frequency, Funeral, Gambling, Gender, General average, Geneva Association, Genoa, Global assets under management, Golf, Good faith, Good faith (law), Great Fire of London, Guild, Hedge (finance), History of Germany, Hole in one, Home insurance, Horse, Hutterites, Indemnity, Independence (probability theory), Inheritance tax, Inland waterways of the United States, Insurable interest, Insurable risk, Insurance bad faith, Insurance broker, Insurance cycle, Insurance fraud, Insurance Hall of Fame, Insurance in Australia, Insurance in India, Insurance in the United Kingdom, Insurance in the United States, Insurance industry in China, Insurance law, Insurance policy, Insurance Premium Tax (United Kingdom), Insurance score, Intentional tort, Interest rate insurance, Investment, John Wiley & Sons, Kidnap and ransom insurance, Landlords' insurance, Law of agency, Law of large numbers, Legal expenses insurance, Liberal Party (UK), Lien, Life annuity, Life insurance, Liquidation, List of United States insurance companies, Lloyd's Coffee House, Lloyd's of London, Loan, London Stock Exchange, Loss ratio, Loss-control consultant, Marine insurance, Marital status, Market (economics), Market trend, Maurice R. Greenberg, McCarran–Ferguson Act, Medical malpractice, Mediterranean Sea, Mennonites, Merchant, Middle Ages, Millennium, Moral hazard, Mortality rate, Mortgage insurance, Mortgage law, Mortgage loan, Multivariate analysis, Muslim, Mutual insurance, National Association of Insurance Commissioners, National Consumer Law Center, National Flood Insurance Program, National Insurance, National Insurance Act 1911, Nicholas Barbon, No-fault insurance, Nuclear and radiation accidents and incidents, Nuclear exclusion clause, Occupational disease, Otto von Bismarck, Outline of finance, Overhead (business), Pension, People's Insurance Company of China, Pet insurance, Plain English, Plaintiff, Political risk insurance, Politics, Pollution insurance, Pooling (resource management), Present value, Price–Anderson Nuclear Industries Indemnity Act, Prize indemnity insurance, Probability, Profession, Professional liability insurance, Profit (accounting), Progressive Corporation, Property insurance, Proximate cause, Public adjuster, Public liability, Racial profiling, Rail transport, Real estate, Real property, Reciprocal inter-insurance exchange, Records management, Redlining, Reinsurance, Religion, Rent-seeking, Retirement, Revolution, Rhodes, Riba, Risk assessment, Risk management, Risk pool, Risk premium, Sam Radwan, Saving, Self-insurance, September 11 attacks, Social insurance, Social safety net, Social security, Social Security (United States), Social Security debate in the United States, Speculation, Statistics, Stock market, Stop-loss insurance, Surety bond, Tax, Tax deferral, Tax law, Taxation in the United States, Terrorism, Terrorism insurance, Terrorism Risk Insurance Act, The Crown, The Equitable Life Assurance Society, The Hartford, The Invisible Bankers, Theft, Title insurance, Total permanent disability insurance, Trade credit insurance, Traffic collision, Travel insurance, Tropical cyclone, Tuition insurance, Uberrima fides, Underwriting, Underwriting profit, United Kingdom, United States, Universal health care, Usage-based insurance, Usury, Variable universal life insurance, Vehicle insurance, Venture capital, Volcano, Wage, Warranty, Wealth, Weather, Welfare, Welfare state, William Talbot (bishop), Workers' compensation, World War II, Yandex, 24/7 service, 2nd millennium BC, 3rd millennium BC. 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Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations.
ACORD, the Association for Cooperative Operations Research and Development, is a non-profit organization that provides the global insurance industry with data standards and implementation solutions.
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance and other industries and professions.
Advertising is an audio or visual form of marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea.
The Enlightenment (also known as the Age of Enlightenment or the Age of Reason; in lit in Aufklärung, "Enlightenment", in L’Illuminismo, “Enlightenment” and in Spanish: La Ilustración, "Enlightenment") was an intellectual and philosophical movement that dominated the world of ideas in Europe during the 18th century, "The Century of Philosophy".
An agent of record (AOR) is an individual or a legal entity with a duly executed contractual agreement with an insurance policy owner, in line with the prevailing legal norms and regulations of the region in which the contract was entered.
An aircraft is a machine that is able to fly by gaining support from the air.
An airport is an aerodrome with extended facilities, mostly for commercial air transport.
There have been two baronetcies created for persons with the surname Allen, one in the Baronetage of England and one in the Baronetage of the United Kingdom.
Amicable Society for a Perpetual Assurance Office (a.k.a. "Amicable Society") is considered the first life insurance company in the world.
The Amish (Pennsylvania German: Amisch, Amische) are a group of traditionalist Christian church fellowships with Swiss German Anabaptist origins.
Anabaptism (from Neo-Latin anabaptista, from the Greek ἀναβαπτισμός: ἀνά- "re-" and βαπτισμός "baptism", Täufer, earlier also WiedertäuferSince the middle of the 20th century, the German-speaking world no longer uses the term "Wiedertäufer" (translation: "Re-baptizers"), considering it biased. The term Täufer (translation: "Baptizers") is now used, which is considered more impartial. From the perspective of their persecutors, the "Baptizers" baptized for the second time those "who as infants had already been baptized". The denigrative term Anabaptist signifies rebaptizing and is considered a polemical term, so it has been dropped from use in modern German. However, in the English-speaking world, it is still used to distinguish the Baptizers more clearly from the Baptists, a Protestant sect that developed later in England. Cf. their self-designation as "Brethren in Christ" or "Church of God":.) is a Christian movement which traces its origins to the Radical Reformation.
Ancient Greece was a civilization belonging to a period of Greek history from the Greek Dark Ages of the 13th–9th centuries BC to the end of antiquity (AD 600).
In historiography, ancient Rome is Roman civilization from the founding of the city of Rome in the 8th century BC to the collapse of the Western Roman Empire in the 5th century AD, encompassing the Roman Kingdom, Roman Republic and Roman Empire until the fall of the western empire.
In the United States, an annuity is a contractually executed, relatively low-risk investment fund, where the insured (usually, an individual) pays a life insurance company a lump-sum premium at the start of the contract.
The Association of British Insurers or ABI is a trade association made up of insurance companies in the United Kingdom.
Aviation insurance is insurance coverage geared specifically to the operation of aircraft and the risks involved in aviation.
Babylonia was an ancient Akkadian-speaking state and cultural area based in central-southern Mesopotamia (present-day Iraq).
Basketball is a team sport played on a rectangular court.
A benefit society, fraternal benefit society or fraternal benefit order is a society, an organization or a voluntary association formed to provide mutual aid, benefit, for instance insurance for relief from sundry difficulties.
The Beveridge Report, officially entitled Social Insurance and Allied Services, is a government report, published in November 1942, influential in the founding of the welfare state in the United Kingdom.
Boiler insurance (Boiler cover) is a type of insurance that covers repairs and in some instances, the replacement of a home boiler.
The Brethren in Christ Church (BIC) is an Anabaptist Christian denomination with roots in the Mennonite church, pietism, and Wesleyan holiness.
Builder's risk insurance is a special type of property insurance which indemnifies against damage to buildings while they are under construction.
A building code (also building control or building regulations) is a set of rules that specify the standards for constructed objects such as buildings and nonbuilding structures.
Business is the activity of making one's living or making money by producing or buying and selling products (goods and services).
Business interruption insurance (also known as business income insurance) is a type of insurance that covers the loss of income that a business suffers after a disaster.
Business method patents are a class of patents which disclose and claim new methods of doing business.
Business overhead expense (BOE) disability insurance, also known as Business Expense Insurance, pays the insured’s business overhead expenses if he or she becomes disabled.
A business owner’s policy (also businessowner’s policy, business owners policy or BOP) is a special type of commercial insurance designed for small and medium-sized businesses.
An insurance policy may be canceled before the end of the policy period.
In economics, capital consists of an asset that can enhance one's power to perform economically useful work.
Captive insurance is an alternative to self-insurance in which a parent group or groups create a licensed insurance company to provide coverage for itself.
In economics, cash is money in the physical form of currency, such as banknotes and coins.
Casualty insurance is a problematically defined term which broadly encompasses insurance not directly concerned with life insurance, health insurance, or property insurance.
The Central Bank of the Russian Federation (Центральный банк Российской Федерации Tsentral'nyy bank Rossiyskoy Federatsii) also known as the Bank of Russia (Банк России Bank Rossii) is the central bank of the Russian Federation, founded in 1860 as The State Bank of the Russian Empire, headquartered on Neglinnaya Street in Moscow.
A check mark, checkmark or tick is a mark (✓, ✔, etc.) used (primarily in the English speaking world) to indicate the concept “yes” (e.g. “yes; this has been verified”, “yes; that is the correct answer”, “yes; this has been completed”, or “yes; this applies to me”).
China, officially the People's Republic of China (PRC), is a unitary one-party sovereign state in East Asia and the world's most populous country, with a population of around /1e9 round 3 billion.
The China Insurance Regulatory Commission (CIRC) is an agency of China authorized by the State Council to regulate the Chinese insurance products and services market and maintain legal and stable operations of insurance industry.
Sir Christopher Wren PRS FRS (–) was an English anatomist, astronomer, geometer, and mathematician-physicist, as well as one of the most highly acclaimed English architects in history.
The civil service is independent of government and composed mainly of career bureaucrats hired on professional merit rather than appointed or elected, whose institutional tenure typically survives transitions of political leadership.
Claims adjuster (claim adjuster), or claims handler (claim handler), investigates insurance claims by interviewing the claimant and witnesses, consulting police and hospital records, and inspecting property damage to determine the extent of the company's liability.
The Code of Hammurabi is a well-preserved Babylonian code of law of ancient Mesopotamia, dated back to about 1754 BC (Middle Chronology).
Collateral Protection Insurance, or CPI, insures property held as collateral for loans made by lending institutions.
A community is a small or large social unit (a group of living things) that has something in common, such as norms, religion, values, or identity.
Condition of average (also called underinsurance in the U.S., or principal of average, subject to average, or pro rata condition of average in Commonwealth countries) is the insurance term used when calculating a payout against a claim where the policy undervalues the sum insured.
The Consumer Federation of America (CFA) is a non-profit organization founded in 1968 to advance consumer interests through research, education and advocacy.
A contract is a promise or set of promises that are legally enforceable and, if violated, allow the injured party access to legal remedies.
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts so paid plus the other agreed charges.
A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual.
In ordinary language, a crime is an unlawful act punishable by a state or other authority.
Crop insurance is purchased by agricultural producers, including farmers, ranchers, and others to protect themselves against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural commodities.
A data entry clerk is a member of staff employed to enter or update data into a computer system.
A decade is a period of 10 years.
In an insurance policy, the deductible is the amount paid out of pocket by the policy holder before an insurance provider will pay any expenses.
Deep pocket is an American slang term; it usually means "extensive financial wealth or resources".
Defamation, calumny, vilification, or traducement is the communication of a false statement that, depending on the law of the country, harms the reputation of an individual, business, product, group, government, religion, or nation.
The Defense Base Act (DBA) (ch. 357 of the 77th United States Congress,, enacted August 16, 1941, codified at) is an extension of the federal workers' compensation program that covers longshoremen and harbor workers, the Longshore and Harbor Workers' Compensation Act.
Demutualization is the process by which a customer-owned mutual organization (mutual) or co-operative changes legal form to a joint stock company.
In economics, a depression is a sustained, long-term downturn in economic activity in one or more economies.
Directors and officers liability Insurance (often called "D&O") is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers.
Disability Insurance, often called DI or disability income insurance, or income protection, is a form of insurance that insures the beneficiary's earned income against the risk that a disability creates a barrier for a worker to complete the core functions of their work.
A disaster is a serious disruption, occurring over a relatively short time, of the functioning of a community or a society involving widespread human, material, economic or environmental loss and impacts, which exceeds the ability of the affected community or society to cope using its own resources.
In human social affairs, discrimination is treatment or consideration of, or making a distinction in favor of or against, a person based on the group, class, or category to which the person is perceived to belong.
Divorce insurance is a form of contractual liability insurance that pays the insured a cash benefit if their marriage ends in divorce.
Down payment (or downpayment, also called a deposit in British English), is a payment used in the context of the purchase of expensive items such as a car and a house, whereby the payment is the initial upfront portion of the total amount due and it is usually given in cash at the time of finalizing the transaction.
An earthquake (also known as a quake, tremor or temblor) is the shaking of the surface of the Earth, resulting from the sudden release of energy in the Earth's lithosphere that creates seismic waves.
Earthquake engineering is an interdisciplinary branch of engineering that designs and analyzes structures, such as buildings and bridges, with earthquakes in mind.
Earthquake insurance is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property.
Economics is the social science that studies the production, distribution, and consumption of goods and services.
Education is the process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits.
Edward Rowe Mores, FSA (24 January 1731 – 22 November 1778) was an English antiquarian and scholar, with works on history and typography.
Embezzlement is the act of withholding assets for the purpose of conversion (theft) of such assets, by one or more persons to whom the assets were entrusted, either to be held or to be used for specific purposes.
An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death.
ENHANCE International LLC is a management consultancy advising the China Insurance Regulatory Commission and the National Health and Family Planning Commission as China looks to reform health care with the China Demographics challenge of an aging population and a shift from the old communist health system to one that has to catch up with China's expanding economy and rapid growth of chronic diseases.
Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere.
The European Union (EU) is a political and economic union of EUnum member states that are located primarily in Europe.
An exclusion clause is a term in a contract that seeks to restrict the rights of the parties to the contract.
Expatriate insurance policies are designed to cover financial and other losses incurred by expatriates while living and working in a country other than one's own.
The Federal Trade Commission (FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act.
A fidelity bond is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals.
The Financial Accounting Standards Board (FASB) is a private, non-profit organization standard setting body whose primary purpose is to establish and improve generally accepted accounting principles (GAAP) within the United States in the public's interest.
A financial adviser is a professional who suggests and renders financial services to clients based on their financial situation.
A financial intermediary is an institution or individual that serves as a middleman among diverse parties in order to facilitate financial transactions.
Financial Reinsurance (or fin re), is a form of reinsurance which is focused more on capital management than on risk transfer.
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual managers and some government-sponsored enterprises.
The Financial Services Authority (FSA) was a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom between 2001 and 2013.
Fire is the rapid oxidation of a material in the exothermic chemical process of combustion, releasing heat, light, and various reaction products.
Flood insurance denotes the specific insurance coverage against property loss from flooding.
Frequency is the number of occurrences of a repeating event per unit of time.
A funeral is a ceremony connected with the burial, cremation, or interment of a corpse, or the burial (or equivalent) with the attendant observances.
Gambling is the wagering of money or something of value (referred to as "the stakes") on an event with an uncertain outcome with the primary intent of winning money or material goods.
Gender is the range of characteristics pertaining to, and differentiating between, masculinity and femininity.
The law of general average is a legal principle of maritime law according to which all parties in a sea venture proportionally share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the whole in an emergency (for instance, when the crew throws some cargo overboard to lighten the ship in a storm).
The Geneva Association is an international think tank for strategically important insurance and risk management issues.
Genoa (Genova,; Zêna; English, historically, and Genua) is the capital of the Italian region of Liguria and the sixth-largest city in Italy.
Global assets under management consists of assets held by asset management firms, pension funds, sovereign wealth funds, hedge funds, and private equity funds.
Golf is a club-and-ball sport in which players use various clubs to hit balls into a series of holes on a course in as few strokes as possible.
Good faith (bona fides), in human interactions, is a sincere intention to be fair, open, and honest, regardless of the outcome of the interaction.
In contract law, the implied covenant of good faith and fair dealing is a general presumption that the parties to a contract will deal with each other honestly, fairly, and in good faith, so as to not destroy the right of the other party or parties to receive the benefits of the contract.
The Great Fire of London was a major conflagration that swept through the central parts of the English city of London from Sunday, 2 September to Thursday, 6 of September 1666.
A guild is an association of artisans or merchants who oversee the practice of their craft/trade in a particular area.
A hedge is an investment position intended to offset potential losses or gains that may be incurred by a companion investment.
The concept of Germany as a distinct region in central Europe can be traced to Roman commander Julius Caesar, who referred to the unconquered area east of the Rhine as Germania, thus distinguishing it from Gaul (France), which he had conquered.
In golf, a hole in one or hole-in-one (also known as an ace, mostly in American English) occurs when a ball hit from a tee finishes in the cup.
Home insurance, also commonly called homeowner's insurance (often abbreviated in the US real estate industry as HOI), is a type of property insurance that covers a private residence.
The horse (Equus ferus caballus) is one of two extant subspecies of ''Equus ferus''.
Hutterites (Hutterer) are an ethnoreligious group that is a communal branch of Anabaptists who, like the Amish and Mennonites, trace their roots to the Radical Reformation of the 16th century.
Indemnity is a contractual obligation of one party (indemnitor) to compensate the loss occurred to the other party (indemnitee) due to the act of the indemnitor or any other party.
In probability theory, two events are independent, statistically independent, or stochastically independent if the occurrence of one does not affect the probability of occurrence of the other.
A tax paid by a person who inherits money or property or a levy on the estate (money and property) of a person who has died.
The inland waterways of the United States include more than of navigable waters.
Insurable interest, It exists when an insured person derives a financial or other kind of benefit from the continuous existence, without impairment or damage, of the insured object (or in the case of a person, their continued survival).
An insurable risk is a risk that meets the ideal criteria for efficient insurance.
Insurance bad faith is a legal term of art unique to the law of the United States (but with parallels elsewhere, particularly Canada) that describes a tort claim that an insured person may have against an insurance company for its bad acts.
An insurance broker sells, solicits, or negotiates insurance for compensation.
The tendency of the insurance industry to swing between profitable and unprofitable periods over time is commonly known as the underwriting or insurance cycle.
Insurance fraud is any act committed with the intent to obtain a fraudulent outcome from an insurance process.
The Insurance Hall of Fame honors leaders, innovators and visionaries in the insurance field and is presented annually by the International Insurance Society.
Australia's insurance market can be divided into roughly three components: life insurance, general insurance and health insurance.
Insurance in India refers to the market for insurance in India which covers both the public and private sector organisations.
Insurance in the United Kingdom, particularly long-term insurance, is divided into different categories.
Insurance in the United States refers to the market for risk in the United States, the world's largest insurance market by premium volume.
The Chinese insurance industry has experienced rapid expansion over the past decade, with annual life-insurance premiums growing from 10 billion U.S. dollars in 1999 to 46 billion U.S. dollars in 2006.
Insurance law is the practice of law surrounding insurance, including insurance policies and claims.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay.
Insurance Premium Tax (IPT) is a type of indirect tax levied on general insurance premiums in the United Kingdom.
An insurance score - also called an insurance credit score - is a numerical point system based on select credit report characteristics.
An intentional tort is a category of torts that describes a civil wrong resulting from an intentional act on the part of the tortfeasor (alleged wrongdoer).
Interest rate insurance protects the holder of a variable rate mortgage or loan from rising interest rates.
In general, to invest is to allocate money (or sometimes another resource, such as time) in the expectation of some benefit in the future – for example, investment in durable goods, in real estate by the service industry, in factories for manufacturing, in product development, and in research and development.
John Wiley & Sons, Inc., also referred to as Wiley, is a global publishing company that specializes in academic publishing.
Kidnap and ransom insurance or K&R insurance is designed to protect individuals and corporations operating in high-risk areas around the world.
Landlords' insurance is an insurance policy that covers a property owner from financial losses connected with rental properties.
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, that is authorized to act on behalf of another (called the principal) to create legal relations with a third party.
In probability theory, the law of large numbers (LLN) is a theorem that describes the result of performing the same experiment a large number of times.
Legal protection insurance (LPI), also known as legal expenses insurance (LEI) or simply legal insurance, is a particular class of insurance which facilitates access to law and justice by providing legal advice and covering legal costs of a dispute, regardless of whether the case is brought by or against the policyholder.
The Liberal Party was one of the two major parties in the United Kingdom – with the opposing Conservative Party – in the nineteenth and early twentieth centuries.
A lien is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation.
A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive.
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).
In United Kingdom, Republic of Ireland and United States law and business, liquidation is the process by which a company is brought to an end.
This is a list of insurance companies based in the United States.
A 19th-century drawing of Lloyd's Coffee House Lloyd's Coffee House was a significant meeting place in London in the 17th and 18th centuries.
Lloyd's of London, generally known simply as Lloyd's, is an insurance market located in London, United Kingdom.
In finance, a loan is the lending of money by one or more individuals, organizations, and/or other entities to other individuals, organizations etc.
The London Stock Exchange (LSE) is a stock exchange located in the City of London, England.
A loss ratio is a ratio of losses to gains, used normally in a financial context.
A loss control consultant (also LCC or loss control representative) is someone who possess a demonstrable knowledge and / or education in arts and science of safety engineering and risk management.
Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which the property is transferred, acquired, or held between the points of origin and the final destination.
Civil status, or marital status, is any of several distinct options that describe a person's relationship with a significant other.
A market is one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange.
A market trend is a perceived tendency of financial markets to move in a particular direction over time.
Maurice Raymond "Hank" Greenberg (born May 4, 1925) is an American business executive and former chairman and CEO of American International Group (AIG), which was the world's 18th largest public company and the largest insurance and financial services corporation in history.
The McCarran–Ferguson Act, 15 U.S.C. §§ 1011-1015, is a United States federal law that exempts the business of insurance from most federal regulation, including federal antitrust laws to a limited extent.
Medical malpractice is a legal cause of action that occurs when a medical or health care professional deviates from standards in his or her profession, thereby causing injury to a patient.
The Mediterranean Sea is a sea connected to the Atlantic Ocean, surrounded by the Mediterranean Basin and almost completely enclosed by land: on the north by Southern Europe and Anatolia, on the south by North Africa and on the east by the Levant.
The Mennonites are members of certain Christian groups belonging to the church communities of Anabaptist denominations named after Menno Simons (1496–1561) of Friesland (which today is a province of the Netherlands).
A merchant is a person who trades in commodities produced by other people.
In the history of Europe, the Middle Ages (or Medieval Period) lasted from the 5th to the 15th century.
A millennium (plural millennia or, rarely, millenniums) is a period equal to 1000 years, also called kiloyears.
In economics, moral hazard occurs when someone increases their exposure to risk when insured.
Mortality rate, or death rate, is a measure of the number of deaths (in general, or due to a specific cause) in a particular population, scaled to the size of that population, per unit of time.
Mortgage Insurance (also known as mortgage guarantee and home-loan insurance) is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan.
A mortgage is a security interest in real property held by a lender as a security for a debt, usually a loan of money.
A mortgage loan, or simply mortgage, is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged.
Multivariate analysis (MVA) is based on the statistical principle of multivariate statistics, which involves observation and analysis of more than one statistical outcome variable at a time.
A Muslim (مُسلِم) is someone who follows or practices Islam, a monotheistic Abrahamic religion.
A mutual insurance company is an insurance company owned entirely by its policyholders.
The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories.
The National Consumer Law Center (NCLC) is an American nonprofit organization headquartered in Boston, Massachusetts, specializing in consumer issues on behalf of low-income people.
The National Flood Insurance Program (NFIP) is a program created by the Congress of the United States in 1968 through the National Flood Insurance Act of 1968 (P.L. 90-448).
National Insurance (NI) is a tax system in the United Kingdom paid by workers and employers for funding state benefits.
The National Insurance Act 1911 created National Insurance, originally a system of health insurance for industrial workers in Great Britain based on contributions from employers, the government, and the workers themselves.
Nicholas Barbon (1640 – 1698) was an English economist, physician, and financial speculator.
In its broadest sense, no-fault insurance is any type of insurance contract under which insureds are indemnified for losses by their own insurance company, regardless of fault in the incident generating losses.
A nuclear and radiation accident is defined by the International Atomic Energy Agency (IAEA) as "an event that has led to significant consequences to people, the environment or the facility." Examples include lethal effects to individuals, radioactive isotope to the environment, or reactor core melt." The prime example of a "major nuclear accident" is one in which a reactor core is damaged and significant amounts of radioactive isotopes are released, such as in the Chernobyl disaster in 1986.
The nuclear exclusion clause is a clause which excludes damage caused by nuclear and radiation accidents from regular insurance policies of, for example, home owners.
An occupational disease is any chronic ailment that occurs as a result of work or occupational activity.
Otto Eduard Leopold, Prince of Bismarck, Duke of Lauenburg (1 April 1815 – 30 July 1898), known as Otto von Bismarck, was a conservative Prussian statesman who dominated German and European affairs from the 1860s until 1890 and was the first Chancellor of the German Empire between 1871 and 1890.
The following outline is provided as an overview of and topical guide to finance: Finance – addresses the ways in which individuals and organizations raise and allocate monetary resources over time, taking into account the risks entailed in their projects.
In business, overhead or overhead expense refers to an ongoing expense of operating a business.
A pension is a fund into which a sum of money is added during an employee's employment years, and from which payments are drawn to support the person's retirement from work in the form of periodic payments.
People's Insurance Company of China Holdings Company is a state-owned company in the People's Republic of China.
Pet insurance pays, partly or in total, for veterinary treatment of the insured person's ill or injured pet.
Plain English (or layman's terms) is language that is easy to understand, emphasizes clarity and brevity, and avoids overly complex vocabulary.
A plaintiff (Π in legal shorthand) is the party who initiates a lawsuit (also known as an action) before a court.
Political risk insurance is a type of insurance that can be taken out by businesses, of any size, against political risk—the risk that revolution or other political conditions will result in a loss.
Politics (from Politiká, meaning "affairs of the cities") is the process of making decisions that apply to members of a group.
Pollution insurance is a type of insurance that covers costs related to pollution.
In resource management, pooling is the grouping together of resources (assets, equipment, personnel, effort, etc.) for the purposes of maximizing advantage or minimizing risk to the users.
In economics and finance, present value (PV), also known as present discounted value, is the value of an expected income stream determined as of the date of valuation.
The Price-Anderson Nuclear Industries Indemnity Act (commonly called the Price-Anderson Act) is a United States federal law, first passed in 1957 and since renewed several times, which governs liability-related issues for all non-military nuclear facilities constructed in the United States before 2026.
Prize indemnity insurance is indemnification insurance for a promotion in which the participants are offered the chance to win prizes.
Probability is the measure of the likelihood that an event will occur.
A profession is a vocation founded upon specialized educational training, the purpose of which is to supply disinterested objective counsel and service to others, for a direct and definite compensation, wholly apart from expectation of other business gain.
Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit.
Profit, in accounting, is an income distributed to the owner in a profitable market production process (business).
The Progressive Corporation is one of the largest providers of car insurance in the United States.
Property insurance provides protection against most risks to property, such as fire, theft and some weather damage.
In the law, a proximate cause is an event sufficiently related to an injury that the courts deem the event to be the cause of that injury.
A public adjuster is a professional claims handler claims adjuster who advocates for the policyholder in appraising and negotiating a claimant's insurance claim.
Public liability is part of the law of tort which focuses on civil wrongs.
Racial profiling is the act of suspecting or targeting a person of a certain race on the basis of observed characteristics or behavior, rather than on individual suspicion.
Rail transport is a means of transferring of passengers and goods on wheeled vehicles running on rails, also known as tracks.
Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
In English common law, real property, real estate, realty, or immovable property is land which is the property of some person and all structures (also called improvements or fixtures) integrated with or affixed to the land, including crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads, among other things.
A reciprocal inter-insurance exchange is a form of insurance company.
Records management, also known as records and information management, is an organizational function devoted to the management of information in an organization throughout its life cycle, from the time of creation or inscription to its eventual disposition.
In the United States, redlining is the systematic denial of various services to residents of specific, often racially associated, neighborhoods or communities, either directly or through the selective raising of prices.
Reinsurance is insurance that is purchased by an insurance company.
Religion may be defined as a cultural system of designated behaviors and practices, world views, texts, sanctified places, prophecies, ethics, or organizations, that relates humanity to supernatural, transcendental, or spiritual elements.
In public choice theory and in economics, rent-seeking involves seeking to increase one's share of existing wealth without creating new wealth.
Retirement is the withdrawal from one's position or occupation or from one's active working life.
In political science, a revolution (Latin: revolutio, "a turn around") is a fundamental and relatively sudden change in political power and political organization which occurs when the population revolt against the government, typically due to perceived oppression (political, social, economic).
Rhodes (Ρόδος, Ródos) is the largest of the Dodecanese islands of Greece in terms of land area and also the island group's historical capital.
Riba (ربا,الربا، الربٰوة) can be roughly translated as "usury", or unjust, exploitative gains made in trade or business under Islamic law.
Risk assessment is the determination of quantitative or qualitative estimate of risk related to a well-defined situation and a recognized threat (also called hazard).
Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinator and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
A risk pool is one of the forms of risk management mostly practiced by insurance companies.
For an individual, a risk premium is the minimum amount of money by which the expected return on a risky asset must exceed the known return on a risk-free asset in order to induce an individual to hold the risky asset rather than the risk-free asset.
Sam Radwan is a partner and co-founder of ENHANCE International LLC, a management consultancy.
Saving is income not spent, or deferred consumption.
Self-insurance describes a situation in which a person does not take out any third party insurance.
The September 11, 2001 attacks (also referred to as 9/11) were a series of four coordinated terrorist attacks by the Islamic terrorist group al-Qaeda against the United States on the morning of Tuesday, September 11, 2001.
Social insurance is any government-sponsored program with the following four characteristics.
The social safety net is a collection of services provided by the state or other institutions such as friendly societies.
Social security is "any government system that provides monetary assistance to people with an inadequate or no income." Social security is enshrined in Article 22 of the Universal Declaration of Human Rights, which states: Everyone, as a member of society, has the right to social security and is entitled to realization, through national effort and international co-operation and in accordance with the organization and resources of each State, of the economic, social and cultural rights indispensable for his dignity and the free development of his personality.
In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration.
This article concerns proposals to change the Social Security system in the United States.
Speculation is the purchase of an asset (a commodity, goods, or real estate) with the hope that it will become more valuable at a future date.
Statistics is a branch of mathematics dealing with the collection, analysis, interpretation, presentation, and organization of data.
A stock market, equity market or share market is the aggregation of buyers and sellers (a loose network of economic transactions, not a physical facility or discrete entity) of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange as well as those only traded privately.
Stop-loss insurance is insurance that protects insurers against large claims.
A surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract.
A tax (from the Latin taxo) is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures.
Tax deferral refers to instances where a taxpayer can delay paying taxes to some future period.
Tax law is an area of legal study dealing with the constitutional, common-law, statutory, tax treaty, and regulatory rules that constitute the law applicable to taxation.
The United States of America has separate federal, state, and local government(s) with taxes imposed at each of these levels.
Terrorism is, in the broadest sense, the use of intentionally indiscriminate violence as a means to create terror among masses of people; or fear to achieve a financial, political, religious or ideological aim.
Terrorism insurance is insurance purchased by property owners to cover their potential losses and liabilities that might occur due to terrorist activities.
The Terrorism Risk Insurance Act (TRIA) is a United States federal law signed into law by President George W. Bush on November 26, 2002.
The Crown is the state in all its aspects within the jurisprudence of the Commonwealth realms and their sub-divisions (such as Crown dependencies, provinces, or states).
The Equitable Life Assurance Society (Equitable Life), founded in 1762, is a life insurance company in the United Kingdom.
The Hartford Financial Services Group, Inc., usually known as The Hartford, is a United States-based investment and insurance company.
Invisible Bankers: Everything the Insurance Industry Never Wanted You to Know is a 1982 book on the insurance industry.
In common usage, theft is the taking of another person's property or services without that person's permission or consent with the intent to deprive the rightful owner of it.
Title insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans.
Total Permanent Disability (TPD) is a phrase used in the insurance industry and in law.
Trade credit insurance, business credit insurance, export credit insurance, or credit insurance is an insurance policy and a risk management product offered by private insurance companies and governmental export credit agencies to business entities wishing to protect their accounts receivable from loss due to credit risks such as protracted default, insolvency or bankruptcy.
A traffic collision, also called a motor vehicle collision (MVC) among other terms, occurs when a vehicle collides with another vehicle, pedestrian, animal, road debris, or other stationary obstruction, such as a tree, pole or building.
Travel insurance is insurance that is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while traveling, Travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a "multi-trip" policy can cover an unlimited number of trips within a set time frame.
A tropical cyclone is a rapidly rotating storm system characterized by a low-pressure center, a closed low-level atmospheric circulation, strong winds, and a spiral arrangement of thunderstorms that produce heavy rain.
Tuition insurance is an insurance protecting students attending cost-intensive educational institutions - schools, colleges or universities - from the financial loss that may result from the student’s involuntary withdrawal from his or her studies.
Uberrima fides (sometimes seen in its genitive form uberrimae fidei) is a Latin phrase meaning "utmost good faith" (literally, "most abundant faith").
Underwriting services are provided by some large specialist financial institutions, such as banks, insurance or investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee.
Underwriting profit is a term used in the insurance industry.
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.
The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.
Universal health care (also called universal health coverage, universal coverage, universal care, or socialized health care) is a health care system that provides health care and financial protection to all citizens of a particular country.
Usage-based insurance (UBI) also known as pay as you drive (PAYD) and pay how you drive (PHYD) and mile-based auto insurance is a type of vehicle insurance whereby the costs are dependent upon type of vehicle used, measured against time, distance, behavior and place.
Usury is, as defined today, the practice of making unethical or immoral monetary loans that unfairly enrich the lender.
Variable universal life insurance (often shortened to VUL) is a type of life insurance that builds a cash value.
Vehicle insurance (also known as car insurance, motor insurance or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles.
Venture capital (VC) is a type of private equity, a form of financing that is provided by firms or funds to small, early-stage, emerging firms that are deemed to have high growth potential, or which have demonstrated high growth (in terms of number of employees, annual revenue, or both).
A volcano is a rupture in the crust of a planetary-mass object, such as Earth, that allows hot lava, volcanic ash, and gases to escape from a magma chamber below the surface.
A wage is monetary compensation (or remuneration, personnel expenses, labor) paid by an employer to an employee in exchange for work done.
In contract law, a warranty has various meanings but generally means a guarantee or promise which provides assurance by one party to the other party that specific facts or conditions are true or will happen.
Wealth is the abundance of valuable resources or valuable material possessions.
Weather is the state of the atmosphere, describing for example the degree to which it is hot or cold, wet or dry, calm or stormy, clear or cloudy.
Welfare is a government support for the citizens and residents of society.
The welfare state is a concept of government in which the state plays a key role in the protection and promotion of the social and economic well-being of its citizens.
William Talbot (1658 – 10 October 1730) was an English Anglican bishop.
Workers' compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue their employer for the tort of negligence.
World War II (often abbreviated to WWII or WW2), also known as the Second World War, was a global war that lasted from 1939 to 1945, although conflicts reflecting the ideological clash between what would become the Allied and Axis blocs began earlier.
Yandex N.V. (p) is a multinational corporation specializing in Internet-related services and products.
In commerce and industry, 24/7 or 24-7 service (usually pronounced "twenty-four seven") is service that is available any time and, usually, every day.
The 2nd millennium BC spanned the years 2000 through 1001 BC.
The 3rd millennium BC spanned the years 3000 through 2001 BC.
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