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Glossary of Insurance & Risk Management Terms

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A

A201 Construction Contract

abandonment

abatement

absolute pollution exclusion

absorbed dose

accept

accident

accidental death

accidental death and dismemberment (AD&D)

accidental means

accident year data

accident year experience

accommodation line

accountants professional liability insurance

account current

accounts receivable coverage

accreditation

Accredited Adviser in Insurance (AAI)

accumulation

accumulation period

ACM

acquisition costs

action levels

action versus the insurer provision

active retention

activity standards

act of God

actual cash value (ACV)

actuarial report

actuary

acute exposure

acute toxicity

ACV

ADA

AD&D

additional expense coverage

additional insured

additional insured endorsement

additional living expense (ALE) coverage

additional medical

additional named insured

add-on control device

'add-on' no-fault laws

adhesive contract

adjustable feature

adjusted earnings

adjusted net worth

adjuster

administrative law

administrative order

administrative order on consent

administrative services only (ASO)

administrator

admiralty law

admitted assets

admitted/authorized reinsurance

admitted company

admitted insurer

admitted reinsurer

ADR

advanced wastewater treatment

advance loss of profit (ALOP) insurance

advancement of defense costs provision

adverse selection

advertisement

advertising injury

advisory endorsement

A&E

aerobic treatment

affiliated companies

affiliated risk

affinity sales

affirmative defense

afterburner

aftermarket parts

AGC

Age Discrimination in Employment Act (ADEA) of 1967

agency

agency agreement

agency captive

agency construction management

agency plant

agency system

agent

agent of record

agent's errors and omissions

agent's license

aggravation

aggregate

aggregate deductible

aggregate excess insurance

aggregate excess of loss reinsurance

aggregate limit of liability

aggregate limits reinstatement

aggregate stop-loss reinsurance

agreed amount clause

agreed value coverage option or provision

agreement not to rely on governmental immunity

AIA

airborne particulates

air quality control region

air quality standards

air stripping

air toxins

ALAE

ALE

aleatory contract

alienated premises

alien insurer

allegations

allied healthcare professional liability insurance

allocated expenses

allocated loss adjustment expenses (ALAE)

allocated loss expense

allocation

all risks coverage

all risks, difference-in-conditions (builders risk)

all risks, ground and flight

all risks, not in motion

alternate employer endorsement

alternative dispute resolution (ADR)

alternative dispute resolution provision

alternative market

alternative minimum tax (AMT)

alternative remedial contract strategy contractors

alternative risk financing facilities

alternative risk financing mechanism

alternative risk transfer (ART) market

A.M. Best rating

amendment of 'insured contract' definition endorsement

AMERCO v. Commissioner

American Association of Insurance Services (AAIS)

American Institute for Chartered Property Casualty Underwriters, Inc. (AICPCU)

American Institute of Architects (AIA)

American Institute of Certified Public Accountants (AICPA)

Americans With Disabilities Act (ADA)

amount at risk

amount subject

analytic risk modeling method

animal mortality insurance

anniversary date

anniversary rating date

annual aggregate deductible

annual statement

annuitant

annuity

annuity certain

annuity due

answer

anti-concurrent cause (ACC) provision

anti-indemnity statute

anti-stacking provisions

anti-theft device

antitrust liability

apparent agency

appeal

application

application of retention

apportionment

appraisal clause

appraisers errors and omissions

approval

'A' rates

arbitration

arbitration clause

architects and engineers (A&E) liability coverage

ARM

asbestos

asbestos abatement

asbestos containing material (ACM)

asbestos program manager

ASO

assessment company (society or insurer)

asset allocation

asset class

asset risk

asset share value

assigned risk plan

assignee

assignment

associate

Associated General Contractors of America (AGC)

Associate in Automation Management (AAM)

Associate in Claims (AIC)

Associate in Fidelity and Surety Bonding (AFSB)

Associate in Information Technology (AIT)

Associate in Insurance Accounting and Finance (AIAF)

Associate in Insurance Services (AIS)

Associate in Loss Control Management (ALCM)

Associate in Management (AIM)

Associate in Marine Insurance Management (AMIM)

Associate in Personal Insurance (API)

Associate in Premium Auditing (APA)

Associate in Reinsurance (ARe)

Associate in Research and Planning (ARP)

Associate in Risk Management (ARM)

Associate in Surplus Lines Insurance (ASLI)

Associate in Underwriting (AU)

Associateship of the Chartered Insurance Institute (ACII)

associational discrimination

association captive

association group

Association of Trial Lawyers of America (ATLA)

association professional liability insurance

assume

assumed liability

assumed premiums

assumed reinsurance

assumption

assumption endorsement

assumption of liability agreement

assumption of liability endorsement (ALE)

assumption of risk

assumption of risk doctrine

assurance

at-risk construction management

attachment basis

attachment point

attained age

attorney/client communication

attorney work product

attractive nuisance doctrine

auction rate security (ARS)

audit

authorized non-admitted reinsurer

auto

auto coverage symbols

auto loan/lease gap coverage

automatic additional insured endorsement

automatic increase in insurance provision

automatic insureds

automatic premium loan

automatic treaty

automobile

automobile liability excess indemnity

automobile liability insurance

automobile physical damage insurance

average basis

average rate

average severity

average weekly wage (AWW)

aviation accident insurance

aviation hazard

avoidance

awareness provisions

AWW

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B

back-dated liability insurance

back pay

back-to-back deductible

BACM

bad faith

bailee

bailee coverage

balance

balance billing

bancassurance

bank

bank assurance

bankers professional liability (BPL) insurance

bankruptcy condition

bareboat charter

bare walls coverage

barratry

Basel Committee on Banking Supervision

base premium

basic causes of loss form (ISO)

basic extended reporting period (BERP)

basic limits

basic premium

basic premium factor

basic rate

basis point(s)

basis risk

basket aggregate

basket deductible

basket retention

batch clause

BDAT

beauty contest

below-target-risk (BTR)

BEN

benchmarking

bench-scale tests

bench trial

beneficiary

benefits

benefits payable exclusion

BERP

best available control measures (BACM)

best demonstrated available technology (BDAT)

Best’s Capital Adequacy Ratio (BCAR)

Best's Rating

betterment clause

BFPD

bid bond

bid deducts

bifurcation

bilateral extended reporting period provision

bill of lading

binder

bingo card program

bingo stamp

biological magnification

biomechanical analysis

bioremediation

Bipartisan Campaign Reform Act of 2002

Black Lung Benefits Act

blackmail settlement clause

blackout period

blanket additional insured endorsement

blanket contractual liability insurance

blanket fidelity bond

blanket group boiler and machinery coverage

blanket limit

blanket medical expense

blanket policy

blanket position bond

blended finite risk

blended risk

blowout and cratering

blowout prevention warranty

Blue Book

blue plan

board committees

boards and bureaus

boatowners policy

bobtail

bobtail liability

bodily injury

bodily injury by accident limit (workers compensation)

bodily injury by disease, each employee (workers compensation)

bodily injury by disease—policy limit (workers compensation)

boiler and machinery insurance

bond

bonding

book value

boom coverage

BOP

bordereau

borderline risk

Bornhuetter-Ferguson technique

borrowed servant rule

boutique law firm

BPL

branch profits tax

brand equity

brand rehabilitation

brands and labels endorsement

breach

breach of contract

breach of warranty clause

break point

British business interruption coverage

broadcasters liability

broad causes of loss form (ISO)

broad evidence rule

broad form comprehensive general liability (BFCGL) endorsement

broad form contractual liability insurance

broad form drive other car coverage

broad form hold harmless clause

broad form named insured endorsement

broad form pollution exclusion

broad form property damage (BFPD)

broker

brokerage department

brokerage market

brother-sister relationship

Brownfield

Brownian motion

buffer layer

builders risk policy

building and personal property coverage form (ISO)

building codes effectiveness grading schedule (BCEGS)

Building Information Modeling (BIM)

building ordinance coverage

building rate

bulk reserves

bullying

bumbershoot

burden of proof

burglary

burning cost

business auto policy

business continuity management (BCM)

business income coverage

business income worksheet

business interruption coverage

business interruption worksheet

business judgment rule

business legal expense insurance

business risk

businessowners policy (BOP)

business use class

buyback deductible

buyers' market

buyout settlement clause

buy/sell agreement

 

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C

CAA

Cable Communications Policy Act (CPPA)

calendar year experience

cancelable

cancel and rewrite

cancellation

C and F

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Our Location

Santa Maria & Company

1550 Parkside Drive, Suite 200
Walnut Creek, CA 94596
Main office: 925-956-7600
Toll free: 866-921-3347
Fax: 925-956-7601

Our Providers

Testimonials

I found the rare breed of insurance company that fights for you and stands by you. If you are looking for an insurance company that has integrity and amazing customer service, I would hands down, wholeheartedly recommend Santa Maria

Eli I., Remodeling Contractor
As a home builder in Northern California, I have endured numerous complicated issues while trying to protect my business from unforeseen liabilities, satisfying the multiple requirements of individual municipalities, and doing so at a reasonable expense. Santa Maria and Company has been instrumental in these dealings by providing quality advice, creative alternative solutions, and excellent service.

Dennis C., Home Builder
Santa Maria & Company helped guide our business through a difficult time by being proactive, informing us of potential obstacles, and avoiding surprises. Their customer focus has clearly covered the present, the future, and the 'what if' conditions that all businesses must deal with. We feel that our company is very well prepared to handle our complicated risk-related issues because of their support and guidance.

Robert M., Equipment Manufacturing Executive
The company is sincere, honest, always looking out for our best interests. They continually work to understand our business, to develop strategies to mitigate our exposure. That gives us a real competitive advantage.

Shaun M., Food Industry Risk Manager
Santa Maria & Company has helped us solve some tough insurance challenges, but they continue to identify emerging risks, such as cybercrime, and help us protect against them. Their customer service is fantastic.

Jeff B., Medical Industry CFO
This company knows the local insurance market better than the larger brokers ever could. They are true experts who take the time to explain all of our coverage options and help us make the right decisions. It's almost like having an insurance professional on staff.

Matt A., Food Industry Executive
It is a real advantage to work with risk insurance experts that have underwriting experience. Since we have been working with Santa Maria, we've grown a great deal and other companies are always trying to win our business. Santa Maria has the expertise in insurance and high tech industry risks that we need and their personal service is excellent.

Cynthia G., Technology Industry Executive