Dictionary Of Insurance Terms May 2026

: A fundamental principle requiring both the insurer and the insured to act with total honesty and disclose all material facts.

: The total amount of capital an insurance company has available to underwrite general coverage or specific risks. Dictionary of Insurance Terms

: Coverage primarily concerned with legal liability for injuries to others or damage to their property. : A fundamental principle requiring both the insurer

: A requirement that the person buying insurance must suffer a financial loss if the insured event occurs. Dictionary of Insurance Terms

: A formal document that changes or adds provisions to the original insurance policy. Industry Specific Terminology Key terms used in underwriting and claims processing:

Standard parts found in most insurance contracts to define coverage: