INSURANCE GLOSSARY

INSURANCE GLOSSARY
------------------------------
http://www.irmi.com/Online/Insurance-Glossary/Terms/Acronyms.aspx
-------------------------------------------------------------------

IRMI.com Risk & Insurance Sites Home
Publications
Conferences
Seminars
Insurance CE
About IRMI
Testimonials
Contact Us
View Cart




Glossary of Insurance & Risk Management Terms

Terms
Acronyms
IRMI Publication Cross-Reference Key
Suggest a Glossary Improvement or New Term
Glossary Contributors
Add the Glossary Index to Your Web Site
Glossary of Insurance & Risk Management Terms > Acronyms

Risk and Insurance Acronyms
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A
AAA—American Academy of Actuaries; American Arbitration Association

AACI—American Association of Crops Insurers

AADC—American Association of Dental Consultants

AAI—Accredited Adviser in Insurance; Alliance of American Insurers

AAIMC—American Association of Insurance Management Consultants

AAIS—American Association of Insurance Services

AALU—Association for Advanced Life Underwriting

AAM—Associate in Automation Management

AAMGA—American Association of Managing General Agents

AAPL—American Association of Petroleum Landmen

ABA—American Bar Association, American Bankers Association

ABIH—American Board of Industrial Hygienists

ABS—American Bureau of Shipping

ACAS—Associate of the Casualty Actuarial Society

ACC—anti-concurrent cause provision

ACCI—American Corporate Counsel Institute

ACEC—American Consulting Engineers Council

ACII—Associateship of the Chartered Insurance Institute (British)

ACLI—American Council of Life Insurers

ACLU—American College of Life Underwriters

ACM—asbestos containing materials

ACORD—Association for Cooperative Operations Research and Development

ACSC—Association of Casualty & Surety Companies

ACV—actual cash value

ACWRRE—American Cargo War Risk Reinsurance Exchange

ADA—Americans With Disabilities Act

ADB—accidental death benefit

AD&D—accidental death and dismemberment

ADEA—Age Discrimination in Employment Act

ADR—alternative dispute resolution; American depository receipt

A/E—architect/engineer

AEIA—American Excess Insurance Association

AFIA—American Foreign Insurance Association

AFSB—Associate in Fidelity and Surety Bonding

AGC—Associated General Contractors of America

A&H—accident and health (insurance)

AHERA—Asbestos Hazard Emergency Response Act

AHIS—American Hull Insurance Syndicate

AI—additional insured

AIA—American Institute of Architects; American Insurance Association

AIAF—Associate in Insurance Accounting and Finance

AIC—Associate in Claims

AICPA—American Institute of Certified Public Accountants

AICPCU—American Institute for Chartered Property Casualty Underwriters (formerly AIPLU)

AIDS—Acquired Immune Deficiency Syndrome

AIHA—American Industrial Hygiene Association

AIM—Associate in Management

AIMA—as interest may appear

AIME—average indexed monthly earnings

AIMU—American Institute of Marine Underwriters

AIP—annual implementation plan

AIPLU—American Institute for Property and Liability Underwriters (see AICPCU)

AIPSO—Automobile Insurance Plans Service Office

AIRAC—All-Industry Research Advisory Council

AIRB—Aviation Insurance Rating Bureau

AIS—Associate in Insurance Services

AISG—American Insurance Services Group, Inc.

AIT—Associate in Information Technology

AL—automobile liability

ALAE—allocated loss adjustment expense

ALC—American Life Convention

ALCM—Associate in Loss Control Management

ALE—additional living expense (coverage); assumption of liability endorsement

ALIMDA—Association of Life Insurance Medical Directors of America

ALM—Association of Lloyd's Members

ALOP—advance loss of profit insurance

ALOS—average length of stay

AMA—American Medical Association

AMBAC—American Municipal Bond Assurance Corp.

AMEMIC—Association of Mill & Elevator Mutual Insurance Companies

AMIC—American Marine Insurance Clearinghouse

AMIF—American Marine Insurance Forum

AMIM—Associate in Marine Insurance Management

AMT—alternative minimum tax

AMW—average monthly wage

ANI—American Nuclear Insurers

ANL—above normal loss

ANSI—American National Standards Institute

AOP—all other perils

AP—additional premium

APA—Associate in Premium Auditing

API—American Petroleum Institute; Associate in Personal Insurance

APIW—Association of Professional Insurance Women

AR—all risk; accounts receivable; assigned risk

ARe—Associate in Reinsurance

ARIA—American Risk and Insurance Association

ARM—Associate in Risk Management

ARM–P—Associate in Risk Management for Public Entities

ARO—asset retirement obligation

ARP—Associate in Research and Planning

ART—alternative risk transfer; annual renewable term (life insurance)

ASA—administrative services arrangement; Associate in Society of Actuaries

ASC—Associated Specialty Contractors

ASCLU—American Society of Chartered Life Underwriters

ASHRM—American Society for Healthcare Risk Management

ASIM—American Society of Insurance Management

ASIS—American Society of Industrial Security

ASLI—Associate in Surplus Lines Insurance

ASM—available seat miles

ASME—American Society of Mechanical Engineers

ASO—administrative services only

ASOP—Actuarial Statement of Practice

ASPA—American Society of Pension Actuaries

ASSE—American Society of Safety Engineers

ASTD—American Society of Training and Development

ATA—American Trucking Associations, Inc.

ATLA—Association of Trial Lawyers of America

ATM—automated teller machine

ATRA—American Tort Reform Association

AU—Associate in Underwriting

AWW—average weekly wage

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

B
BACM—best available control measures

BAP—business auto policy

BBB—banker's blanket bond

B&C—building and contents

BCAR—Best’s Capital Adequacy Ratio

BCBSA—Blue Cross and Blue Shield Association

BCE—Bermuda Commodities Exchange

BCEGS—building codes effectiveness grading schedule

BCM—business continuity management

BDAT—best demonstrated available technology

BERP—basic extended reporting period

BFCGL—broad form comprehensive general liability (endorsement)

BFPD—broad form property damage (endorsement)

BI—bodily injury; business interruption

BIC—business income coverage

BM, B&M—boiler and machinery (forms)

BOP—businessowners policy

BOW—breach of warranty

BPB—blanket position bond

BPF—basic premium factor

BPL—bankers professional liability insurance

BPT—branch profits tax

BR—builders risk

BRAC—Base Realignment and Closure Act

BTR—below-target risk

BV—brick veneer (construction)

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

C
CAA—Clean Air Act

CAC—combined additional coverage

CAGR—compounded annual growth rate

CAI—computer assisted instruction

CAL—comprehensive automobile liability

C and F—cost and freight

CAN-SPAM—The Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003

CAPM—Capital Asset Pricing Model

CAPP—Conference of Actuaries in Public Practice

CAR—contractors all risk (insurance)

CARE—Concerned Alliance of Responsible Employers

CARFM—Coalition of Alternative Risk Funding Mechanisms

CARFRA—Coordinated Advertising, Rate and Form Review Authority

CAS—Casualty Actuarial Society

CAT—catastrophe

CBE—computer based education

CBMU—Canadian Board of Marine Underwriters

CBOT—Chicago Board of Trade

CBRA—Coastal Barrier Resources Act

CBRN—chemical, biological, radiological, nuclear weapon

CBRS—Coastal Barrier Resources System

CCC—care, custody, or control (exclusion)

CCIA—Consumer Credit Insurance Association

CCIP—contractor controlled insurance program

CC&R—covenants, conditions, and restrictions

CD—certificate of deposit

CDW—collision damage waiver

CEB—Council of Employer Benefits

CEBS—Certified Employee Benefits Specialist

CEN—confiscation, expropriation, nationalization (insurance)

CEND—confiscation, expropriation, nationalization, and deprivation (insurance)

CEO—chief executive officer

CEPT—credit equivalent bypass trust

CERCLA—Comprehensive Environmental Response Compensation and Liability Act

C&F—cost and freight

CF—contract frustration

CFA—Chartered Financial Analyst

CFC—Chartered Financial Consultant; controlled foreign corporation

CFMA—Construction Financial Management Association

CFO—chief financial officer

CFP—Certified Financial Planner; coordinated financial planning

CFROI—cash flow return on investments

CFTC—Commodities and Futures Trading Commission

CFU—customary freight unit

CGL—commercial general liability; formerly comprehensive general liability

CHCM—Certified Hazard Control Manager

CHIAA—Crop-Hail Insurance Actuarial Association

CIAA—Canadian Independent Adjusters Association

CIAB—The Council of Insurance Agents and Brokers

CIC—Certified Insurance Counselor

CICA—Captive Insurance Companies Association, Inc.

CIF—cost, insurance, and freight

CIH—Certified Industrial Hygienist; Compensated Intercorporate Hauling

CII—Chartered Insurance Institute

CIP—consolidated insurance program; controlled insurance program

CIRB—Crop Insurance Research Bureau

CISR—Certified Insurance Service Representative

CIT—critical incident technique

CLHIA—Canadian Life & Health Insurance Association

CLIEDIS—Canadian Life Insurance EDI Standards Association

CLM—Commercial Lines Manual

CLU—Chartered Life Underwriter

CMP—commercial multiple peril

CMT—crisis management team

CNHI—Committee for National Health Insurance

CNP—cotton named perils (insurance)

C/O—completed operations

COAA—Construction Owners Association of America

COB—coordination of benefits

COBRA—Consolidated Omnibus Budget Reconciliation Act

COC—course of construction

CO-CIP—cooperative controlled insurance program

COGSA—Carriage of Goods by Sea Act

COGWA—Carriage of Goods by Water Act

COIL—Conference of Insurance Legislators

COLA—Cost of Living Adjustment

COO—chief operating officer

COP—commercial output policy

COPPA—Children's Online Privacy Protection Act

COPE—construction, occupancy, protection, exposure

COR—cost of risk

COSO—Committee on Sponsoring Organizations

CP—commercial property (forms)

CPA—Certified Public Accountant

CPCU—Chartered Property Casualty Underwriter

CPE—Certified Professional Engineer

CPI—Consumer Price Index

CPIW—Certified Professional Insurance Woman

CPL—comprehensive personal liability (insurance); contractors pollution liability (insurance)

CPM—critical path method

CPP—Certified Protection Professional; commercial property program

CPPA—Cable Communications Policy Act

CPSA—Consumer Product Safety Act

CPSC—Consumer Product Safety Commission

CPSM—Certified Product Safety Manager

CPU—central processing unit

CQE—Certified Quality Engineer

CR—commercial crime (forms)

CRA—Cargo Reinsurance Association

CRE—certified reliability engineer

CRM—Canadian Risk Management (program); Certified Risk Manager

CRO—chief risk officer

CRIS—Construction Risk and Insurance Specialist

CRS—Commercial Risk Services (ISO); community rating system

CSL—combined single limit

CSO—claim services only

CSO Table—Commissioners Standard Ordinary Table

CSP—Certified Safety Professional; commercial statistical plan

CSR—customer service representative

CTD—cumulative trauma disorder

CTG—control technique guidelines

CURT—Construction Users Roundtable

CV—cash value (life insurance); coefficient of variation

CVA—captive value added

CVIF—compound value interest factor

CWA—Clean Water Act

CWR—countrywide rate pages

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

D
DAC—deferred acquisition cost

DAP—deposit administration plan

D&B—Dun & Bradstreet

DB—decibel

d/b/a—doing business as

DB&C—dwelling, building and contents

DBIA—Design-Build Institute of America

DCC—domestic cell captive

DCF—discounted cash flow (techniques)

DDD—dishonesty, disappearance, and destruction

DDP—distributed data processing

DEC—declarations page

DED—deductible

DEFS—direct-applied exterior finish system

DEP—direct earned premium

DFA—Dynamic Financial Analysis risk model

DI—disability income; double indemnity

DIC—difference-in-conditions (insurance)

DIL—difference-in-limits (clause)

DITC—Disability Insurance Training Council

DJIA—Dow Jones Industrial Average

DMIC—Direct Marketing Insurance Council

DNI—distributable net income

D&O—directors and officers (liability insurance)

DOB—date of birth

DOC—drive other car coverage

DOD—date of death

DOHSA—Death on the High Seas Act

DOL—Department of Labor

DOT—Department of Transportation

DPP—deferred premium payment plan

DPPA—Driver's Privacy Protection Act

DQO—data quality objective

DR—daily report

DRE—destruction and removal efficiency

DRG—Diagnostic Related Group

DRI—Defense Research Institute

DSU—delay in start-up insurance

DTI—Department of Trade and Industry (London)

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

E
EA—Enrolled Actuary

EAB—experience account balance

EAP—employee assistance program; estimated annual premium

EAR—erection all risk (insurance)

EBIDDA—earnings before interest, dividends, depreciation, and amortization

EBRI—Employee Benefit Research Institute

EC—extended coverage (endorsement)

ECC—Eastern Claims Conference

ECF—extended care facility

ECFC—Employers Council on Flexible Compensation

ECI—export credit insurance

ECO—extracontractual obligations

ECOR—economic cost of ruin

ECP—exempt commercial policyholder

ECPA—Electronic Communications Privacy Act

EDD—enforcement decision document

EDI—export development corporation

EDP—electronic data processing; extended discovery period/provision

EEL—emergency exposure limits

EEOC—Equal Employment Opportunity Commission

EFT—electronic funds transfer

EH&S—environmental health and safety

EIFS—exterior insulation and finish systems

EIL—environmental impairment liability

EIS—environmental impact statement

EL—employers liability; expected loss

ELL—educators legal liability (insurance)

ELP—excess loss premium (factor)

ELR—expected loss rate

EMAP—Environmental Monitoring and Assistance Program

EMT—emergency medical technician

ENCP—ERISA Non-Compliance Program

E&O—errors and omissions (liability insurance)

EP—earned premium

EPA—Environmental Protection Agency

EPD—expected policyholder deficit

EPL—employment practices liability

EPLI—employment practices liability insurance

EPS—earnings per share

ERD—expected reinsurer deficit

ERIC—ERISA Industry Committee

ERISA—Employee Retirement Income Security Act

ERM—enterprise risk management

ERP—extended reporting period

ERPL—employment-related practices liability (policy)

ERSC—Environmental Response Services Contractor

E&S—excess and surplus (lines)

ESA—employee spending account; environmental site assessment

ESH—environmental safety and health

ESOP—employee stock ownership plan

ESOT—employee stock ownership trust

ETB—engaged in trade or business

EVA—economic value added

EXIMBANK—Export-Import Bank of the United States

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

F
FAA—Federal Aviation Administration

FAC—facultative reinsurance

FAIR—Fair Access to Insurance Requirements

FALU—Fellow of the Academy of Life Underwriting

FAP—family automobile policy (more commonly PAP)

FAR—Federal Aviation Regulations

FAS—free along side (ocean marine cargo)

FASB—Financial Accounting Standards Board

F&C—fire and casualty

FCAS—Fellow of the Casualty Actuarial Society

FCC—Federal Communications Commission

FCE—functional capacity evaluation

FCIC—Federal Crop Insurance Corporation

FCII—Fellowship of the Chartered Insurance Institute (British)

FCMH&SA—Federal Coal Mine Health & Safety Act

FCPL—farmers comprehensive personal liability

FCRA—Fair Credit Reporting Act

FC&S—free of capture and seizure (warranty)

FDA—Food and Drug Administration

FDI—foreign direct investment

FDIC—Federal Deposit Insurance Corporation

FDPA—Flood Disaster Protection Act

FECA—Federal Employees Compensation Act

FEGLI—Federal Employees Group Life Insurance

FELA—Federal Employers Liability Act

FEMA—Federal Emergency Management Agency

FERMA—Federation of European Risk Management Associations

FET—federal excise tax

FHBM—flood hazard boundary map

FHWA—Federal Highway Administration

FIA—Federal Insurance Administration; Fellow of the Institute of Actuaries; full interest admitted

FIC—Fraternal Insurance Counselor

FICA—Federal Insurance Contribution Act

FICC—Federation of Insurance and Corporate Counsel

FIFO—first in, first out

FIIC—Fellow of the Insurance Institute of Canada

FIRM—flood insurance rate map

FIRREA—Financial Institutions Reform Recovery and Enforcement Act

FLMI—Fellow of the Life Management Institute

FLSA—Fair Labor Standards Act

FM—factory mutual

FMCSA—Federal Motor Carrier Safety Administration

FMCSR—Federal Motor Carrier Safety Regulations

FMLA—Family and Medical Leave Act of 1993

FMV—fair market value

FNMA—Federal National Mortgage Association

FOB—free on board

FOC—Fire Office Committee Forms

FPA—free of particular average

FPAAC—free of particular average (American conditions)

FPAEC—free of particular average (English conditions)

FPEB—Fire Prevention and Engineering Bureau

FR—farm and ranch (forms); fire resistive

FRM—Fellow in Risk Management

FRV—fair rental value coverage

FSA—Fellow of the Society of Actuaries; flexible spending account; field service advice

FSLIC—Federal Savings and Loan Insurance Corporation

FT—financial transformation

FTC—Federal Trade Commission

FTCAC—fire, theft, and combined additional coverage

FVD—full value declared

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

G
GA—general agent

GAAP—Generally Accepted Accounting Principles

GAAS—Generally Accepted Auditing Standards

GAB—General Adjustment Bureau

GAMA—General Agents and Managers Association

GAMC—General Agents and Managers Conference

GAO—Government Accountability Office

GAP—guaranteed auto protection

GASB—Governmental Accounting Standards Board

GC—guaranteed cost

GCCI—Guy Carpenter Catastrophe Index

GCD—guaranteed cost discount

GCW—gross combination weight

GFCI—ground fault circuit interrupter

GHAA—Group Health Association of America

GIC—guaranteed investment contract

GIO—guaranteed insurability option

GKLL—garagekeepers legal liability (insurance)

GL—general liability

GLB—Gramm-Leach-Bliley Act

GNEPI—gross/net earned premium income

GNMA—Government National Mortgage Association

GNPI—gross/net premium income

GNWPI—gross/net written premium income

GPO—Government Printing Office; guaranteed purchase option

GULP—Group Universal Life Program

GVW—gross vehicle weight

GWP—gross written premium

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

H
HB—House Bill

HCQIA—Health Care Quality Improvement Act

HFIE—Huebner Foundation for Insurance Education

HI—health insurance

HIAA—Health Insurance Association of America

HII—Health Insurance Institute

HIPAA—Health Insurance Portability and Accountability Act

HLDI—Highway Loss Data Institute

HLV—human life value

HMO—health maintenance organization

HO—homeowners (insurance)

HOLUA—Home Office Life Underwriters Association

HPL—hospital professional liability (insurance)

HPR—highly protected risk (property)

HRS—hazardous ranking system

HSA—health system agency

HSP—Healthcare Safety Professional

HT—heavy timber (construction)

HVAC—heating, ventilating, and air conditioning

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

I
IAC—Industrial Accident Commission; independent agency captive

IAHU—International Association of Health Underwriters

IAOC—Insurers' Advisory Organization of Canada

IASA—Insurance Accounting and Systems Association, Inc.

IBC—Insurance Bureau of Canada

IBNE—incurred but not enough

IBNR—incurred but not reported (losses)

ICA—International Claim Association; Insurance Consortium of America

ICAC—Insurance Committee for Arson Control

ICC—increased cost of compliance; Interstate Commerce Commission (now defunct); institute cargo clauses

ICEDS—Insurance Company Education Directors Society

ICIA—International Credit Insurance Association

ICJ—Institute for Civil Justice

ICP—insurance conference planners

ICPA—Insurance Conference Planners Association

ICPI—Insurance Crime Prevention Institute

ICSID—International Center for the Settlement of Investment Disputes

IDBI—Industrial Development Bond Insurance

IDI—inherent defects insurance

IDLH—immediately dangerous to life and health

IDM—integrated disability management

IEA—Insurance Educational Association

IFC—insured fixed-price cleanup

IFEBP—International Foundation of Employee Benefit Plans

IFSC—International Financial Services Centre

IFSRA—Irish Financial Services Regulatory Authority

IFTA—International Fuel Tax Agreement

IGF—insurance guaranteed financing

IH—industrial hygiene

IHOU—Institute of Home Office Underwriters

IIA—Insurance Institute of America, Inc.

IIAA—Independent Insurance Agents of America, Inc.

IIAC—International Insurance Advisory Council

IIC—Insurance Institute of Canada

IICAE—Insurance Industry Consumer Affairs Exchange

IIE—Illinois Insurance Exchange

IIHS—Insurance Institute for Highway Safety

III—Insurance Information Institute

IIMA—Insurance Industry Meetings Association

IIS—International Insurance Seminars, Inc.

IL—interline (forms)

ILCA—Insurance Loss Control Association

ILF—increased limits factor

ILOC—irrevocable letter of credit

ILU—Institute of London Underwriters

IM—inland marine (forms)

IMCA—Insurance Marketing Communications Association

IME—independent medical exam

IMF—International Monetary Fund

IMUA—Inland Marine Underwriters Association

IOS—International Organization for Standardization

IPA—Independent Practice Association

IPAC—Insurance Public Affairs Council

IPFA—Insurance Premium Finance Association

IPT—insurance premium tax

IR—incident recall

IRA—individual retirement account

IRC—Insurance Research Council; Internal Revenue Code

IRES—Insurance Regulatory Examiners Society

IRI—Industrial Risk Insurers

IRIS—Insurance Regulatory Information System

IRM—improved risk mutuals

IRMC—Institute for Risk Management Consultants

IRMI—International Risk Management Institute, Inc.

IRP—International Registration Plan

IRPM—Individual Risk Premium Modification

IRR—internal rate of return

IRS—Internal Revenue Service

ISCEBS—International Society of Certified Employee Benefits Specialists

ISO—Insurance Services Office, Inc.

ISTEA—Intermodal Surface Transportation Efficiency Act

ITC—investment tax credit

ITCIF—International Trade Credit Insurance Facility

ITI—Insurance Testing Institute

IVANS—Insurance Value Added Network Services

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

J
JCAH—Joint Commission on the Accreditation of Hospitals

JCAHO—Joint Commission on Accreditation of Healthcare Organizations

JSA—job safety analysis

JUA—joint underwriting authority; joint underwriting association

JV—joint venture

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

K
K&R—kidnap and ransom

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

L
LAE—loss adjustment expense

LASH—lighter aboard ship

LCA—Life Communicators Association

LCF—loss conversion factor

LDF—loss development factor

LDW—limited damage waiver; loss damage waiver

LEA—Loss Executives Association

LEPC—Local Emergency Planning Committee

LHWCA—Longshore and Harbor Workers Compensation Act

LIAA—Life Insurance Association of America

LIAMA—Life Insurance Agency Management Association

LIFO—last in, first out

LIMRA—Life Insurance Marketing & Research Association

LIRB—Liability Insurance Research Bureau

LLC—limited liability company

LMU—loss mitigation underwriting

LOC—letter of credit

LOMA—Life Office Management Association

LPG—liquid petroleum gas

LPRT—Leading Producers Round Table

LPSO—Lloyd's Policy Signing Office

LPT—loss portfolio transfer

LTA—lost time accident; long term agreement

LTD—long-term disability

LTL—less than truckload

LUMP—limits under multiple policy years

LUTC—Life Underwriter Training Council

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

M
M—masonry (construction)

MAAA—Member of American Academy of Actuaries

MAC—maximum allowable concentration

MAP—market assistance plan

MAS—management advisory service

MBIA—Municipal Bond Insurance Association

M&C—manufacturers and contractors (insurance)

MCA—Motor Carrier Act of 1980

MCO—managed care organization

M&D—minimum and deposit

MDO—monthly debit ordinary life insurance

MDRT—Million Dollar Round Table

MET—multiple employer trust

MFL—maximum foreseeable loss

MGA—managing general agent

MGU—managing general underwriter

MIB—Medical Information Bureau

MICA—Mortgage Insurance Companies of America

MICRA—Medical Insurance Compensation Reform Act

MIGA—Multilateral Investment Guarantee Agency

MIS—management information system

MLE—maximum loss expectancy

MLEA—multiple line exclusive agent

MLR—multiple location risk

MMI—maximum medical improvement

MMII—Mass Marketing Insurance Institute

M-NC—masonry—non-combustible (construction)

MNC—multi-national corporation

MOP—manufacturers output policy

MORT—Management Oversight and Risk Tree

MOSB—mercantile open stock burglary (insurance)

MP—minimum premium; multiple peril

MPCI—multi-peril crop insurance

MPL—maximum possible loss

MPP—managed premium plan

MSA—market service agreement

MSAWPA—Migrant and Seasonal Agricultural Worker Protection Act

MSBF—money and securities broad form (insurance)

MSD—musculoskeletal disorder

MSDS—material safety data sheet

MSVR—Mandatory Securities Valuation Reserve

MTC—motor truck cargo (insurance)

MVC—mean/variance/covariance risk modeling method

MVR—motor vehicle record

MYSL—multi-year single limit

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

N
NAA—National Association of Accountants

NAAQS—national ambient air quality standard

NABRTI—National Association of Bar-Related Title Insurers

NACA—National Association of Catastrophe Adjusters

NACIA—National Association of Crop Insurance Agents

NAFI—National Association of Fire Investigators

NAFIC—National Association of Fraternal Insurance Counselors

NAFTA—North American Free Trade Agreement

NAHU—National Association of Health Underwriters

NAIA—National Association of Insurance Agents

NAIC—National Association of Insurance Commissioners

NAICS—North American Industry Classification System

NAIFA—National Association of Insurance and Financial Advisors

NAII—National Association of Independent Insurers

NAIIA—National Association of Independent Insurance Adjusters

NAIIO—Non-Admitted Insurers Information Office

NAIW—National Association of Insurance Women

NALC—National Association of Life Companies

NAMIC—National Association of Mutual Insurance Companies

NAPIA—National Association of Public Insurance Adjusters

NAPSLO—National Association of Professional Surplus Lines Offices

NARAB—National Association of Registered Agents and Brokers

NASBA—National Association of State Boards of Accountancy

NASBP—National Association of Surety Bond Producers

NASD—National Association of Securities Dealers

NATB—National Automobile Theft Bureau

NAUA—National Auto Underwriters Association

NBC—nuclear, biological, chemical weapons

NBCU—National Bureau of Casualty Underwriters (no longer in operation)

NBFU—National Board of Fire Underwriters

NCCI—National Council on Compensation Insurance

NCCMP—National Coordinating Committee for Multi-Employer Plans

NCFC—noncontrolled foreign corporation

NCIL—National Conference of Insurance Legislators

NCOIL—National Conference of Insurance Legislators

NCPI—National Committee on Property Insurance

NCSI—National Council of Self-Insurers

NCUA—National Credit Union Administration

NDI—National Disaster Insurance Association

NEFE—National Endowment for Financial Education

NEISS—National Electronic Injury Surveillance System

NEPA—National Environmental Policy Act

NFCA—National Fraternal Congress of America

NFIP—National Flood Insurance Program

NFIRA—National Flood Reform Act

NFPA—National Fire Protection Association

NHCAA—National Health Care Anti-Fraud Association

NHI—National Health Insurance

NHTSA—National Highway Traffic Safety Administration

NICB—National Insurance Crime Bureau

NICO—National Insurance Consumer Organization

NIDC—National Insurance Development Corporation

NIOSH—National Institute for Occupational Safety and Health

NIPA—National Institute of Pension Administrators

NIRP—National Insurance Risk Profile

NOA—naturally occurring asbestos

NOC—not otherwise classified

NOL—not officially lapsed

NP—named perils

NPD—no payroll division

NPDB—National Practitioner Data Bank

NPL—National Priority List

NPV—net present value

NRC—Nuclear Regulatory Commission

NRRA—National Risk Retention Association

NRT—National Response Team

NSC—National Safety Council

NSIPA—National Society of Insurance Premium Auditors

NSLI—National Service Life Insurance

NSP—net single premium

NSPA—National Society of Public Accountants

NSPE—National Society of Professional Engineers

NSPS—New Source Performance Standards

NTSB—National Transportation Safety Board

NVD—no value declared

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

O
OASDHI—Old Age, Survivors, Disability, and Health Insurance (Act)

OCA—outstanding claims account

OCIP—owner controlled insurance program

OCP—owners and contractors protective (insurance)

OCSLA—Outer Continental Shelf Lands Act

OD—occupational disease

OECD—Organization for Economic Cooperation and Development

OEE—operators extra expense (insurance)

OFA—Organized Flying Adjusters

OGP—original gross premium

OI—outage insurance

OIS—operating information system

OL&T—owners, landlords, and tenants (insurance)

O&M—operations and maintenance (programs)

OMCS—Office of Motor Carrier Standards

OPIC—Overseas Private Investment Corporation

ORFS—operational risk financing securities

ORM—operational risk management

OSHA—Occupational Safety and Health Act; Occupational Safety and Health Administration

OSLR—outstanding loss reserves

OTC—other than collision

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

P
PA—particular average

PAAS—Premium Audit Advisory Service

PAIU—Professional Association of Insurance Underwriters

PAP—personal auto policy

PARMA—Public Agency Risk Managers Association

PAS—premium allocation system

PBGC—Pension Benefits Guaranty Corporation

P&C—property and casualty

PC—professional corporation

PCAOB—Public Company Accounting Oversight Board

PCC—protected cell captive

PCI—Property Casualty Insurers of America

PCIP—partner controlled insurance program

PD—property damage

PE—professional engineer

PEBB—public employee blanket bond

PEO—professional employer organization

PERT—Performance, Evaluation, and Review Technique

PFIC—passive foreign investment company

P&I—protection and indemnity (insurance)

PI—personal injury

PIA—primary insurance account; Professional Insurance Agents (association)

PIAA—Physician Insurers Association of America

PICA—Professional Insurance Communicators of America

PIP—personal injury protection

PIPEDA—Personal Information Protection and Electronic Documents Act

PIPSO—Property Insurance Plans Service Office

PL—professional liability

PLE—primary loss expectancy

PLL—pollution legal liability (insurance)

PLR—primary loss retention

PLRB—Property Loss Research Bureau

PLUS—Professional Liability Underwriting Society

PMA—package modification adjustment

PMF—package modification factor

PMI—private mortgage insurance

PML—probable maximum loss

PMPL—project management protective liability (insurance)

PNOC—provisional notice of cancellation

POL—public officials liability

PORC—producer-owned reinsurance company

PPF—personal property floater

PPO—preferred provider organization

PR—pro rata

PRD—pro rata distribution

PRI—political risk insurance

PRIMA—Public Risk Management Association

PRO—peer review organization

PRP—potentially responsible party; preferred risk policy

PSA—placement service agreement

PSAC—Policy Signing and Accounting Centre (London)

PSC—Public State Commission; Public Service Commission

PSI—pollutant standard index

PSLRA—Private Securities Legislation Reform Act

PSRO—Professional Standards Review Organization

PTE—prohibited transaction exemption

PUC—Public Utilities Commission

PV—present value

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Q
QC—quality control

QPC—qualified pollution exclusion

Q Tip Trust—Qualified Terminable Interest Property Trust

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

R
RA—remedial action; regional administrator (Clean Water Act)

RAA—Reinsurance Association of America

RACM—regulated asbestos containing material

RACT—reasonable available control technology

RAM—reverse-annuity mortgage

RAROC—risk-adjusted return on capital

RARORAC—risk-adjusted return on risk-adjusted capital

RBC—risk-based capital

RBNE—reserved but not enough

RC—replacement cost

RCRA—Resource Conservation and Recovery Act of 1976

RDF—retro development factor

REIT—Real Estate Investment Trust

RFIS—Remedial Feasibility Investigation Study

RFP—request for proposal

RICO—Racketeer Influenced and Corrupt Organizations Act of 1970

RIMS—Risk and Insurance Management Society, Inc.

RM—risk management

RMF—rate modification factor

RMIS—risk management information system

RML—residual market load

ROC—Research and Oversight Council on Workers' Compensation

ROCIP—rolling owner controlled insurance program

ROE—return on equity

ROEBI—Return on Employee Benefits Investment

ROI—return on investment

ROL—rate on line

RORAC—return on risk-adjusted capital

RP—return premium

RPG—risk purchasing group

RPII—related party insurance income

RPLU—Registered Professional Liability Underwriter

RPM—remedial project manager

RPMP—Risk Premium Modification Plan

RQ—reportable quantity

RRA—Risk Retention Act

RRG—risk retention group

RRSP—registered retirement saving plan

RSPA—Research and Special Programs Administration

RTW—return to work

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

S
SAA—Surety Association of America

SAP—statutory accounting principles

SARA—Superfund Amendments and Reauthorization Act

SARBOX, SOx, SOX—Sarbanes-Oxley Act of 2002

SAWW—statewide average weekly wage

SB—Senate Bill

SBLI—Savings Bank Life Insurance

SCC—segregated cell captive

SCCIA—South Carolina Captive Insurance Association

SCIC—Society of Certified Insurance Counselors

SCOH—Statistical Coding Occupancy Hazard

SCOPE—supervision, construction, occupancy, protection, exposure

SCPCU—Society of Chartered Property & Casualty Underwriters

SEC—Securities and Exchange Commission

SEMCI—single entry multiple carrier interface

SEP—simplified employee pension

SERC—State Emergency Response Commission

SERP—supplemental extended reporting period; supplementary employee retirement plan

SEUA—Southeastern Underwriters Association

SF—standard fire forms

SFHA—special flood hazard area

SFIP—standard flood insurance policy

SFP—standard fire policy jurisdictions

SFR—semi-fire resistive

SGLI—Servicemen's Group Life Insurance

SIA—Society of Insurance Accountants

SIC—Standard Industry Classification

SIIA—Self-Insurance Institute of America

SIP—State Implementation Plans

SIPC—Securities Investor Protection Corporation

SIR—self-insured retention; Society of Insurance Research

SITE—Society of Insurance Trainers and Educators

SIU—special investigative unit

SK—storekeepers (liability)

SL—sprinkler leakage

SLC—special litigation committee

SLR—stop-loss reinsurance

SLUSA—Securities Litigation Uniform Standards Act

SMP—special multi-peril (package policy)

SOA—Society of Actuaries

SOx, SOX—Sarbanes-Oxley Act of 2002

S&P—Standard and Poor's

SPAP—Special Personal Auto Policy

SPBA—Society of Professional Benefit Administrators

SPC—special purpose company; segregated portfolio company

SPECS—specifications

SPV—special purpose vehicle

SR—short rate

SRA—Society for Risk Analysis

SR&CC—strikes, riots, and civil commotions

SRMC—Society of Risk Management Consultants

SSA—Social Security Administration

SSAP 62—Statement of Statutory Accounting Principles No. 62, Property and Casualty Reinsurance

SSRS—single state registration system

STD—short-term disability

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

T
TAMRA—Technical and Miscellaneous Revenue Act of 1988

TCD—Treasury Certificate of Deposit

TCN—third country national

TCPA—Telephone Consumer Protection Act of 1991

TDA—tax deferred annuity

TDB—temporary disability benefits

TDI—trade disruption insurance

TEFRA—Tax Equity and Financial Responsibility Acts of 1982 & 1983

TERI—targeted enterprise risk insurance

TIAA—Teachers Insurance and Annuity Association

TIF—tax incremental financing

TIL—Truth in Lending (Act)

TIRB—Transportation Insurance Rating Bureau

TIV—total insured value

TL—truckload

TLO—total loss only

TLV—threshold limit values

TM—tax multiplier

TMP—Texas Multi-Peril (package policy)

TOLI—trust-owned life insurance

TOR—technique of operations review

TPA—third-party administrator

TRA—Tax Reform Act of 1984

TRIA—Terrorism Risk Insurance Act

TRIEA—Terrorism Risk Insurance Extension Act

TRIP—Terrorism Risk Insurance Program

TSA—tax sheltered annuity

TSCA—Toxic Substances Control Act

TSDF—treatment, storage, and disposal facility

TTD—temporary total disability

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

U
UBIT—unrelated business income tax

UBTI—unrelated business taxable income

UCC—Uniform Commercial Code

UCD—unemployment compensation disability

UCI—unemployment compensation insurance

UCR—usual, customary, reasonable (reimbursement)

UCRA—Unified Carrier Registration Agreement

UEL—upper explosive level

UEP—unearned premium

UJF—unsatisfied judgment fund

UIM—underinsured motorist

UIMV—underinsured motor vehicle

UL—umbrella liability; Underwriters' Laboratories

ULAE—unallocated loss adjustment expenses

ULC—Underwriters Laboratories of Canada

UM—uninsured motorist

UMPD—uninsured motorist property damage

UMV—uninsured motor vehicle

UNL—ultimate net loss

U&O—use and occupancy

UP—unearned premium

UPR—unearned premium reserve

UPS—uninterruptible power system

URL—uniform resource locator

URMIA—University Risk Management & Insurance Association

USDA—U.S. Department of Agriculture

USGLI—U.S. Government Life Insurance

USITC—U.S. International Trade Commission

USL&HW—United States Longshore and Harbor Workers (Compensation Act)

USERRA—Uniformed Services Employment and Reemployment Rights Act of 1994

UST—underground storage tank

UTBMS—Uniform Task Based Management System

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

V
VAR—value-at-risk

VEBA—Voluntary Employees' Beneficiary Association

VGLI—Veterans Group Life Insurance

VIE—variable interest entity

V&MM—vandalism and malicious mischief

VOC—volatile organic compound

VOR—value of risk

VP—valuable papers

VPP—Voluntary Protection Program

VPPA—Video Privacy Protection Act

VSI—vendors single interest (insurance)

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

W
WA—with average

WACC—weighted average cost of capital

WAEPA—Worldwide Assurance for Employees of Public Agencies

WC—workers compensation

WCRI—Workers Compensation Research Institute

WLRT—Women Leaders Round Table

WMD—weapon of mass destruction

WPA—with particular average

WYO—write your own

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

X
XCU—explosion, collapse, and underground (property damage hazard)

XS—excess policy

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Y
Y2K—year 2000

YRCT—yearly renewable convertible term

YRT—yearly renewable term

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Cross-Reference