We've curated a list of P&C insurance terms and definitions - to help you better understand the often confusing legal language of insurance. Condition precedent to liability Conditions which must be fulfilled if the insured’s claim is to be accepted. • Burglary: Breaking and entering into another person's property with felonious intent. Insurance arranged in order to comply with the law—e.g. Many of Vocabulary Learning Fun’s vocabulary word games are organized with dozens of categories of vocabulary lists. Housing constructed with completely incombustible materials in enclosures, structure and covered in bricks, stone, tiles or concrete. To find out about additional terms, visit the Glossary page at the Infinity Insurance Knowledge Center. This page provides an index of insurance terms and definitions that are commonly used in the insurance business. This is in no way an exhaustive list but it covers the most important terms. This is really nice! Ways to Improve Your Health Vocabulary. Doing it whenever you want, leaving at the time you want, and coming back whenever you want too... discovering things at your own rhythm.... FREEDOM! Our insurance terms glossary is divided alphabetically by insurance terms in a quick reference guide to assist understanding the language commonly used by insurance companies. Created on December 31, 2008. ; Collocations: 2500+ collocations list from A to Z with example sentences. I have omitted some of the less essential words from the worksheets as to not overwhelm my intermediate-level students. These are called means of transport. The definitions are based on various insurance references. Business insurance uses many terms, acronyms, and jargon. Property And Casualty Insurance Glossary. lack. health insurance; indemnify; indemnity; insurance; insure; insured; insurer; life assurance; life insurance; loss adjuster; mature; no-claims bonus; non-contributory; Obamacare; policy; policyholder; PPI; premium; protect; social insurance; subrogation; term insurance; the GISC; third-party insurance… Glossary of insurance related terms used by Lloyd's and market participants. show: definitions & notes only words. List of All Road Signs Compare with road signs in Switzerland Road Markings Vehicle Insurance Driving Training Areas Traffic Related German Vocabulary Tuning & Performance Laws Tuning & Performance Firms Public Transport Useful Links. • Burglary and Theft Insurance: Coverage against property losses due to burglary, robbery, or larceny. (2) The employee in an insurance company who decides whether or not the insurance company should assume the risk of offering the insurance to an individual or group. Insurance - an economic device transferring risk from an individual to a company and reducing the uncertainty of risk via pooling. Illustration of vocabulary, insured, injury - 190642296 n. a person who calculates risks for insurance companies. Insurance Holding Company System - consists of two or more affiliated persons, one or more of which is an insurer. To make it easier for you to understand insurance vocabulary, we list some common insurance terms and explain what they mean. Title: Insurance vocabulary Author: Frédéric Created Date: 9/23/2010 10:41:42 PM Movement of people is considered as travel. in list order from A to Z from Z to A from easy to hard from hard to easy. About English Current . ; Slang words: thousands of popular slang words with different types. Policy documents contain a number of insurance terms because they typically define the limitations of risk and liability on the insured and any exclusions of coverage. (3) An insurance agent. adjudication. Claim – an application for payment by a … They do not override or qualify any definition that appears in any Lloyd’s byelaw or regulation, in any contract or in any other document. ADVERTISEMENT. Many translated example sentences containing "insurance vocabulary" – French-English dictionary and search engine for French translations. Learn insurance industry vocabulary that will help you better understand your insurance policies. 1. meaning. We are training local omanis and therefore we need this please. the state of needing something that is absent or unavailable. actuary. *Note: I am not the creator of this vocabulary list. Adjuster A claims or insurance adjuster is employed by or acts on behalf of an insurance company to examine, evaluate and settle insurance claims. These definitions represent a common or general insurance and/or legal use of the term. © 1997-2021 EnglishClub.com All Rights ReservedThe world's premier FREE educational website for learners + teachers of EnglishEngland • since 1997, Maggie loves maths so she's thinking of becoming an, Every time they sell a policy, insurance brokers get paid a, If you're going to the US, you'll need extra, We've got workers' compensation insurance, so why do we need, Read everything very carefully before signing any insurance, To maximize their profits, insurers will minimize payments to, I didn't realize they'd increase my insurance, Insurance companies protect themselves by purchasing. The adjuster must determine the cause of loss, whether the loss is … If you found this page helpful, consider a donation to our hosting bill to show your support! Studies show that considering a person’s credit behavior can help in predicting potential losses more accurately. ; Idioms: 1500+ English idioms and sayings from A to Z with examples. Only use one word/phrase once. You can find travel vocabulary here with pictures, pronunciations, games and puzzles to learn online for free. One of the best ways to improve your vocabulary is through reading. Every industry has its own jargon, and the property and casualty insurance business is no exception. Thanks for taking the time to make these worksheets. 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While you don't need to understand the more technical, scientific, or medical language doctors and other healthcare providers use, it is helpful to know basic health-related vocabulary.This page provides some of the most common English vocabulary used to talk about health and healthcare. Insurance Vocabulary. Also known as “management speak”, these are the self-aggrandising terms that many people in business use in order to make themselves sound clever and important; at least, that’s what they think. AUTOMOBILE REINSURANCE FACILITY : An insurance plan for drivers who otherwise would not be able to obtain automobile insurance. assessor. Builder. A natural person designated by the Insured Party to receive benefits derived from the insurance policy in the event that damage or loss occurs. actuary. Essential Insurance Vocabulary and Words Actual Cash Value – the value of the property lost or damaged. Some words and phrases may be defined differently by other individuals or organizations. That means the policy will have a coverage till you are 65 years old, which also means, the maximum policy tenure for a 30-year-old is 35 years. Brick and stone housing. Answers can be obtained from the master vocabulary list. Vocabulary List Vocabulary words and phrases. term. Vocabulary: renting a car abroad . Being aware of the meaning of some of the specific terms used in insurance will give you an added advantage. They also may be used in a different context where the definition shown may not be applicable to insurance. Like most insurers, Nationwide uses a credit-based insurance score to predict insurance losses. ⬤ Travel vocabulary in English. medical cover / medical insurance – insurance for the cost of medical treatment ... Also, if you or someone close to you has suffered from a particular illness or medical condition, health vocabulary related to this might also come in useful. The worksheets do not have the answers. A particular category of business-related vocabulary is known in English as “office jargon”, and it’s a widely derided language all of its own. thanks so much for compiling this, really needed it best regards. Basically, the life insurance company declares up front the maximum age till which the life insurance coverage will be provided to the life insured. Hopefully, when you meet an insurance agent you will have no difficulty in understanding his insurance-related jargon. n. a person who calculates the value of something [eg: a building, car etc] The … Credit based insurance score A number representing the likelihood of loss, assigned to insurance applicants, based on credit history. Maggie loves maths so she's thinking of becoming an actuary. This page explains some general German language terms used in workshops and repair garages. Or, if you know more about a topic than most, you are an authority on that topic. I have created some simple insurance vocabulary worksheets for my students based on the following master vocabulary list : DOC (Word97), Worksheets 1-3 (Covers key vocabulary from A-F), Worksheets 4-6 (Covers key vocabulary from F-M). Hosted by Dreamhost. After care – the care, follow-up treatment or therapy needed by a patient who has... Comprehensive major medical insurance . Underwriter – – (1) The company that receives the insurance premium and accepts the responsibility to cover medical costs. Quiz: Insurance policy vocabulary exercise. Vocabulary.co.il can also help build vocabulary skills for other high-stakes, vocabulary-rich exams such as the GRE, the SAT, and PSAT. People travel by many vehicles such as car, bus, plane, train or ship. Now choose the word/phrase from the question's selection box which you believe answers each question. You are the big cheese. We’re listing 10 commonly used insurance terms that you’ll benefit from knowing. If you have the authority to do something, you have the right or power to do it. Your email address will not be published. someone versed in the interpretation of numerical data. Click on the "Check Answers" button at the bottom of the quiz to check your answers. Here you'll find explanations for the most commonly used terms related to business insurance. Below is a definition/description of each of the words in bold from the above text. For instance, you are 30 years old, you opt for a term plan with a maturity age of 65 years. Each state in the U.S. requires insurers to offer an automobile reinsurance facility, at a higher premium. Privacy Policy . Common insurance terms Actual cash value (ACV) : It is also called the 'fair market price' of any given item just prior to its loss or damage. Phrasal verbs: 2000+ common phrasal verbs list from A to Z with examples and ESL worksheets. Home . The following definitions are intended for general guidance. Let us now try and understand the insurance vocabulary. Payment for Insurance; A regular periodic payment for an insurance policy Property Casualty Insurance Protects a person or business with an interest in physical property against its loss or the loss of its income producing abilities English Current recommends Grammarly as a learning tool to reduce English mistakes. Illustration about Word cloud in black fonts on white background depicting insurance related vocabulary in the area of insurer, insured, injury, liability, risk. Learning to express yourself in English when talking about your health can be difficult. insurance and who deals with either agents or companies in arranging for the coverage required by the customer. the final judgment in a legal proceeding. States assign their uninsurable driver to an insurance … Types of … Travelling is going from a place to a distant place. The same Institute of Medicine report notes that " Lack of health insurance causes roughly 18,000 …