Casualty

Front 1

Admitted Insurer d

Back 1

· An insurance company authorized and licensed totransactbusiness in a particular state.

Front 2

Aggregate Limit

Back 2

· The maximum limit of coverage available under aliability policyduring a policy year regardless of the number of claims that may bemade or the numberof accidents that may occur.i

Front 3

Alien Insurer

Back 3

An insurance company that is incorporated outside the United States.

Front 4

Appraisal

Back 4

· An assessment of property to determine either thecorrect amount ofinsurance to be written or the amount of loss tobe paid.

Front 5

Authorized Insurer

Back 5

· An insurance company that has qualified andreceived aCertificate of Authority from the Department of Insurance to transactinsurance in thestate.

Front 6

Certificate of Authority

Back 6

· A document that authorizes a company to startconductingbusiness and specifies the kind(s) of insurance a company cantransact. It is illegal for aninsurance company to transact insurance withoutthis certificate.

Front 7

Domestic Insurer

Back 7

An insurance company that is incorporated in the state.

Front 8

Endorsement

Back 8

· A printed addendum to a contract that is used tochange the policy'soriginal terms, conditions, or coverages.

Front 9

Express Authority

Back 9

· The authority granted to an agent by means of theagent's writtencontract.

Front 10

Fiduciary

Back 10

An agent/broker who handles insurer's funds in a trust capacity.