March 12, 2008 
Some helpful definitions:
Insurer - the insurance company issuing a policy.
Insured - the named person(s) covered by the policy.
Tortfeasor - the person in a claim
InsuranceYak.com
Insurance discussion and general information
Liability Definitions
Insurance for Landlords
Definitions of Rental Property Coverage
This applies to residential property with 1 - 4 units and no commercial exposure (no apartments on top of stores or houses used for a public access business). Any property with 5 or more units is considered commercial coverage.
A standard policy has four parts:
Declarations - Insurance company name, name of insured, address of […]
Insurance Definitions T-Z
TAX SHELTERED ANNUITY (TSA)
In the United States, a retirement annuity sold only to organizations offering qualified retirement plans under section 403(b) of the U.S. Internal Revenue Code.
TAX-DEFERRED BASIS
Insurance Definitions P-S
PACKAGE POLICY
A single insurance policy that combines several coverages previously sold separately. Examples include homeowners insurance and commercial multiple peril insurance.
PAID-UP ADDITIONAL INSURANCE OPTION
Insurance Definitions L-O
L-SHARE VARIABLE ANNUITIES
A form of variable annuity contract usually with short surrender periods and higher mortality and expense risk charges.
LADDERING
A technique that
Insurance Definitions H-K
HACKER INSURANCE
A coverage that protects businesses engaged in electronic commerce from losses caused by hackers.
HARD MARKET
A seller’s market in which insurance is expensive and in short supply.
Insurance Definitions D-G
DEATH BENEFIT
(1) For a life insurance contract, the amount of money paid by an insurer to a beneficiary when a person insured under the life insurance policy dies. (2) For an annuity contract, the amount of money paid to a beneficiary if the contract owner dies before the annuity payments begin.
DECLARATION
Part of a property or […]
Insurance Definitions A-C
A-SHARE VARIABLE ANNUITY
A form of variable annuity contract where the contract holder pays sales charges up front rather than eventually having to pay a surrender charge.
ABSOLUTE ASSIGNMENT
An irrevocable transfer of complete ownership of a life insurance policy or an annuity from one party to another. Contrast with collateral assignment.
ACCELERATED DEATH BENEFITS
A life insurance policy option […]
