Across
- 2. A statistical mechanism that quantifies the variability of a distribution from a mean
- 5. A non-premium bearing coverage that is included within the broader construct of a purchased coverage
- 7. A method of calculating fractional amounts of something equally among all parts of a whole
- 12. The fee paid to an agent or insurance salesperson as a percentage of the policy premium
- 13. Net amount the insured is required to pay for a given transaction. It is the difference between onset and offset premium
- 16. A transaction that will establish the policy term: New Business, Renewal, Rewrite Same or Rewrite New
- 17. The amount needed for a policy or coverage necessary to recover the cost of writing it
- 19. Application that allows the the input of risk characteristics, underwriting answers, product rules and coverages that a premium can be calculated and allows the agent/customer to accept the terms in the form of a policy contract
- 20. The date in which the rates are loaded and available within the rate tables
- 22. Coverage used to protect businesses from internet-based risks
- 26. The date when the policy becomes in force
- 27. A required coverage for a segment/classification of business
- 29. Cancellation of an insurance policy as of its effective date before the insurer has assumed liability. Return of paid premium in full
- 30. Items used by a business for the production of income
- 31. Cancellation of an insurance policy during the term of the policy and prior to the expiration date
- 32. The unity of measure used as the rating bases for determination of premium
- 33. Amount insured is returned for a coverage based on the transaction effective date. It is the prorated amount of the previous transaction's annual premium *-1
Down
- 1. Business Insurance Rating Team
- 3. Amount insured could be charged for a coverage based on the transaction effective date. It is the prorated amount of annual premium
- 4. Liability insurance covering wrongful acts arising from the employment process
- 6. Running total of term premium over the life of the policy term
- 8. A selected coverage commensurate with the insured's particular risk
- 9. Cancellation of an insurance policy during the term of the policy and prior to the expiration date
- 10. Amount insured could be charged for coverage if that coverage were on a policy for a full year
- 11. Defined limits of liability insurance that are in addition to specified other policies and also potentially primary insurance for loss not covered by other policies
- 14. A quantifiable item that contains a threat of damage, injury, liability, loss or any other negative occurrence that may be avoided through preemptive action
- 15. A required coverage for a segment/classification of business
- 18. The date the policy is first rated within the policy writing application for a given policy
- 21. Numeric variable that further classify a particular risk beyond the base rate
- 23. A general classification of insurance industry business
- 24. A premium bearing coverage that has a dollar cost directly associated with a given coverage
- 25. The amount necessary to add to a transaction to bring it up to the policy or coverage minimum
- 28. The price per exposure unity for insurance coverage