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  1. Download a PDF version of Kaplan Financial Education's Glossary of Insurance Terms. It is an up-to-date and comprehensive resource designed for insurance professionals, commercial insurance buyers, and consumers. The glossary is divided into alphabetical sections, with abbreviations and acronyms at the beginning of each section.

  2. Refers to insurance that provides protection for losses greater than a specified amount. Expected Loss Costs The loss costs at the mean confidence level; those losses associated with the arithmetic mean; the expected value of the probability distribution of the amount of loss which may occur during one defined period; normal loss. Expected Loss

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  3. Effective Date: If the effective date is later than the date you are reviewing the COI, it means that the coverage is not yet effective. In this case, any claims that occurred before the effective date would not be covered. Expiration Date: The expiration date should not have already passed, as that would make the policy expired.

  4. Dec 9, 2007 · It seems to me that circa at the beginning of a range indicates that the whole range is approximate. Here is a quote from one style guide: The range of dates refers to the first and last verified date of the materials described. In the event that items on either end of the range cannot be verified, use circa dates with the “c.” notation (c ...

  5. CoverageThe insurance afforded under a contract of insurance. DeclarationPart of the insurance policy that identifies the named insured, policy period and limit of insurance. DeductibleThe amount of money the policyholder must pay on a loss. Direct LossA loss which is a direct consequence of a peril.

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  7. Jan 11, 2022 · insurance does not cover construction in progress. Builder’s Risk insurance can either limit coverage to certain risks (e.g., vandalism, fire, etc.) or be written on a broad, “all-risks” basis. Both the owner and the contractor will benefit from an Insurance Contract Terms what they mean and how to negotiate them A QUICK GUIDE

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