|
NAMED PERIL.
1
NATIONAL FLOOD INSURANCE PROGRAM.
1
NET PREMIUMS WRITTEN.
1
NO-FAULT.
1
NO-FAULT MEDICAL.
1
NO-PAY, NO-PLAY.
1
NON-ADMITTED ASSETS.
2
NON-ADMITTED INSURER.
2
NOTICE OF LOSS.
2
NUCLEAR INSURANCE.
2
NURSING HOME INSURANCE.
2
Peril
specifically mentioned as covered in an insurance policy.
Federal
government-sponsored program under which flood insurance is sold to
homeowners and businesses. (See Adverse selection; Flood insurance)
See Premiums
written
Auto insurance
coverage that pays for each driver’s own injuries, regardless of who
caused the accident. No-fault varies from state to state. It also
refers to an auto liability insurance system that restricts lawsuits
to serious cases. Such policies are designed to promote faster
reimbursement and to reduce litigation.
A type of
accident coverage in homeowners policies.
The idea that
people who don’t buy coverage should not receive benefits. Prohibits
uninsured drivers from collecting damages from insured drivers. In
most states with this law, uninsured drivers may not sue for
noneconomic damages such as pain and suffering. In other states,
uninsured drivers are required to pay the equivalent of a large
deductible ($10,000) before they can sue for property damages and
another large deductible before they can sue for bodily harm.
Assets that are
not included on the balance sheet of an insurance company, including
furniture, fixtures, past-due accounts receivable, and agents’ debt
balances. (See Assets)
Insurers licensed
in some states, but not others. States where an insurer is not
licensed call that insurer non-admitted. They sell coverage that is
unavailable from licensed insurers within the state.
A written notice
required by insurance companies immediately after an accident or
other loss. Part of the standard provisions defining a
policyholder's responsibilities after a loss.
Covers operators
of nuclear reactors and other facilities for liability and property
damage in the case of a nuclear accident and involves both private
insurers and the federal government.
A form of
long-term care policy that covers a policyholder’s stay in a nursing
facility.
Glossary of Insurance Terms
A
B C
D E
F G
H I
J K
L M
N O
P Q
R S
T U
V W X Y Z
|
