Give us a call

Glossary N-O



named insured

named nonowner policy or endorsement

named perils coverage

name partner

National Association of Insurance Commissioners (NAIC)

National Association of Registered Agents and Brokers (NARAB)

National Council on Compensation Insurance (NCCI)

National Flood Insurance Program (NFIP)

National Highway Traffic Safety Administration (NHTSA)

National Independent Statistical Service (NISS)


National Practitioner Data Bank (NPDB)

National Priorities List (NPL)

National Response Center

National Response Team (NRT)

National Safety Council

Nationwide Marine Definition

natural death

naturally occurring asbestos (NOA)

naturally occurring substances


negative basis


negligence per se

negligent entrustment

negligent evaluation

negligent provider selection

negligent referral

negligent retention

net interest earned

net level premium

net line

net loss

net loss reserves

net present value

net retained liability

net retention

net risk (risk limitation)


net written premium

new for old

newly acquired entities

newsgathering torts

New Source Performance Standards (NSPS)


NFC mortality rate



no further remedial action planned

nonadmitted asset

nonadmitted balance

nonadmitted insurance (international insurance)

nonadmitted insurer

nonadmitted reinsurance

Nonappropriated Fund Instrumentalities Act



non-certified act of terrorism

noncombustible construction


nonconcurrency of coverage triggers

noncontributing, noncontributory

noncontributory insurance

noncontrolled foreign corporation (NCFC)

noncorrelated risks

noncumulation of limits provisions

nonderivative suits

nonduplication of benefits

noneconomic damages

nonengagement letter

nonfiled line of coverage

nonforfeiture values

nonimputation provision

noninsurable risk


noninsurance risk transfer

nonledger assets


nonowned automobile

nonparticipating (non-par)

nonparticipation settlement clause

nonpecuniary relief

nonpracticing extension

nonprofit directors and officers liability insurance

nonprofit insurers

nonproportional reinsurance

nonqualified plans

nonratable elements

nonresident agent

nonstandard auto insurance

nonsubject premium



nontransferability provisions

noon clause

no-pay, no-play laws

normal loss

North American Industry Classification System (NAICS)

nose coverage

notary claim exclusion


notice of cancellation/nonrenewal clauses

notice of circumstances during ERP provision

notice of claim provision

notice of occurrence

notice of potential claim provision

notice to the company



nuclear, biological, chemical (NBC) weapons

nuclear exclusion





objective findings

obligatory treaty



occupational accident insurance

occupational classification

occupational disease

occupational injury

occupational manual


occurrence policy

occurrence year

ocean marine coverage




of counsel

off-balance-sheet risk

off-duty coverage


office burglary and robbery

Office of Motor Carrier Standards (OMCS)

off-premises power coverage

offset clause

offshore captive

OL&T liability policy

omnibus clause

on-demand bonds, bank guarantees

ongoing operations

Online Privacy Protection Act of 2003 (AB68)

onshore captive

open perils

open rating

open stock burglary policy

operating cash flow

operating earnings

operational capital

operational risk

operational risk financing securities (ORFS)

operational risk management (ORM)

operators extra expense (OEE)


optimum level of risk retention


option backdating

option instruments

optionally renewable

option spring-loading

opt-out lawsuits

ordinance or law coverage

ordinary construction

ordinary life

ordinary payroll limitation or exclusion endorsement

organizational documents

organizational risk


original gross premium (OGP)

original insurer


ostensible agency liability

other insurance clause

other states coverage

other structures: homeowners policy

other-than-collision coverage

other underwriting income

outcomes measurement

outer continental shelf

Outer Continental Shelf Lands Act (OCSLA)

out of employment

outplacement services

outside directors

outside directorship liability coverage

outstanding losses

outstanding loss reserves (OSLR)

outstanding premiums

overall operating ratio


overlapping insurance



overriding commission

overtime surcharge

owner controlled insurance program (OCIP)


owners and contractors protective (OCP) liability coverage

ownership clause

owners, landlords, and tenants (OL&T) liability policy

owners protective errors and omissions insurance coverage



package policy

paid-in capital

paid losses

paid loss retrospective rating plan

paid up

paid-up additions

pain and suffering

pair or set clause




parallel proceedings

parameter risk

parcel post coverage

parent company

pari passu rule

parol evidence

Part A permit, Part B permit

partial disability

partial loss

partial retention


participating (par)

participating policy

participating reinsurance

particular average


partner controlled insurance program (PCIP)



party-in-interest transactions

passive foreign investment company (PFIC)

passive loss

passive retention

pass-through entity

patent infringement

patient dumping

Patient's Bill of Rights Legislation

Patient's Compensation Funds

Paul v. Virginia

payment account

payment bond

payor benefit

payout profile


payroll audit

payroll deduction

payroll limitation

peer review

penal sum



Pension Benefit Guaranty Corporation (PBGC)

Pension Protection Act of 2006

per capita

percentage participation

per diem business interruption coverage

perfect hedge

performance bond

performance ratio


peril of the sea

per-loss deductible

permanent and stationary

permanent life insurance

permanent partial disability

permanent total disability

per occurrence limitation of liability provision

per risk excess reinsurance

personal and advertising injury

personal articles floater

personal auto policy (PAP)

personal effects floater

Personal Information Protection and Electronic Documents Act (PIPEDA)

personal injury

personal injury protection (PIP)/no-fault

personal liability coverage

personal lines

personal profit exclusion

personal property

personal risk management (PRM)

personal umbrella policy

personnel risk

per stirpes


physical hazard

physical impairment

physical-mental injuries

physical rehabilitation

P&I insurance


placement service agreement (PSA)

placement slips

plain language laws


planned retention

1 2 3 4 5 6 7 8 9 10 11 12 13

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


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