Insurance Terms

1. Replacement cost minus depreciation
3. A written contract ratifying the legality of an insurance agreement
5. Failure to take proper care resulting in damage or injury to others
7. Evaluates losses and settles claims
9. Policy statement regarding the applicant and property covered
11. termination of a policy due to failure to pay
13. Person covered by insurance
15. The process where your insurance company seeks reimbursement from a third party or insurer responsible for the loss
17. An amendment to a policy agreement

2. a formal request to your insurance company for payment or coverage for a loss.
3. Money paid to the company
4. an unexpected event or circumstance
6. Another name for risk or hazard
8. Uncertainty concerning the possibility of loss by a peril
10. Risk of possible loss
12. independent agency with responding to planning for mitigation and recovery efforts of natural disaster
14. Process insurers use to evaluate a risk
16. Period of time for which policy is effect