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Glossary P-Q


plate glass insurance



point-of-entry treatment device

point-of-use treatment device

police professional liability insurance


policy anniversary

policy conditions

policy date

policy definitions

policy dividend

policy expense allowance

policy fee


policyholder dividends

policyholder surplus

policy loan

policy owner

policy period

policy registers

policy reserve

policy territory

policy writing agent

policy year

policy year experience

political risk insurance


pollutant standard index (PSI)


pollution exclusion



portfolio reinsurance

portfolio return

portfolio runoff

portfolio transfer

Port Risk

post-emergency recovery

postmortem dividend

potentially responsible party (PRP)

power of attorney

practice insurance policy

practice policy

preauthorized check plan


pre-claim advice credit

predecessor firm coverage

preexisting condition

preferred provider organization (PPO)

preferred risk

Pregnancy Discrimination Act of 1978 (PDA)

prejudgment interest


premises burglary coverage


premises theft and outside robbery coverage form H


premium, advance

premium audit

premium basis

premium capacity

premium deposit

premium discount

premium loan

premium notice

premium payment plan

premium prepayment

premium, pure

premium reserve

premiums earned

premium tax

prepaid legal plans

preponderance of evidence

present value

preservation of property

pre-set allocation provision


presumptive indemnification provision


primary and non-contributory

primary beneficiary

primary cover

primary insurer

primary liability


principal sum

principle of indemnification

prior acts coverage

prior and pending litigation exclusion

priority of payments provision

prior work exclusion

private carrier

private company directors officers (D&O) liability insurance

private equity firm

Private Letter Ruling

privately held corporation

private placement

Private Securities Litigation Reform Act of 1995

privileged communication

privity of contract


probability analysis

probability of ruin

probable maximum loss (PML)

probationary period



process risk

process wastewater


producer-owned reinsurance captive (PORC)


product disparagement

production of documents

product liability

product liability exclusion

product liability insurance

product recall

products-completed operations

products guarantee legal liability

products tampering insurance

professional employer organization (PEO)

professional liability

professional reinsurer

profit center captives

profit commission

profit sharing plan

pro forma (projected) financial statements

program business

progressive injury or damage

prohibited risk

prohibited transaction exemption (PTE)

prohibited transactions

prohibition of voluntary payments provision

pro hoc vice

project liability insurance

project management protective liability (PMPL) insurance

promissory estoppel

promissory note

proof of loss

property damage

property insurance

property transfer liability insurance

proportional liability

proportional/pro rata reinsurance

proposal bond

pro rata

pro rata cancellation

pro rata distribution clause

pro rata reinsurance


pro se



prospective aggregates

prospective loss costs

prospective rating

protected cell captive (PCC)

protection and indemnity (P&I) insurance

protection classes

protective liability insurance

protective order

Protective Professional Indemnity Insurance

protective safeguards endorsement

provisional notice of cancellation (PNOC)

provisional premium

proximate cause

psychological rehabilitation

public adjuster

Public Company Accounting Oversight Board (PCAOB)

public easement

public employee dishonesty coverage

Public Law 15 (McCarran Act)

public liability insurance

publicly held corporation

public officials bond

public officials liability

public officials liability insurance

public or livery conveyance use

public policy exception

Public Risk Management Association (PRIMA)

publishers liability

punitive damages

purchasing group

pure captive

pure claims-made policy

pure endowment

pure loss cost

pure premium

pure risk

putting in expenses




qualified person with a disability

qualified plan

qualified self-insurer

qualitative claim auditing

Quality Indicator Profile (QIP)

quantitative claim auditing

quantity discount

quantum meruit


quick assets

quid pro quo

quid pro quo sexual harassment

quota share reinsurance

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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


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