Terms starting with I
Insurability may refer to the ability of a person or entity to obtain insurance coverage. It generally involves an assessment of the risk associated with the person or entity, and...
The inception date of an insurance policy is the date on which the insurance coverage for that particular policy begins. It marks the start of the policy period during which...
An Indemnity Bond is a legal agreement that is used to protect an individual or entity from any potential losses or expenses that may arise from another party’s actions or...
An Irrevocable Letter of Credit (or ILOC) is a financial instrument that may refer to a written promise from a bank to pay a seller a certain amount of money...
Investment Vehicles may refer to any assets, instruments, or products that are used to generate income or increase wealth. This term can include a wide range of options such as...
An insurance limit is the maximum amount that an insurer will pay for a covered claim. An insurance limit can be given "per occurrence" (i.e. for a single incident) or...
The "insurance score" is a pivotal metric within the domain of Directors and Officers (D&O) insurance. It is essentially a rating that evaluates the potential risk profile of an individual...
An "insurer" is a foundational term within the domain of insurance. By definition, an "insurer" is an entity, often a company, that provides insurance coverage. This entity assumes the risk...
Indemnification is a term that may refer to the protection of a person or entity from legal liability. This protection may come in the form of money, goods, or services....
Insured vs. Insured Exclusion may refer to a specific type of exclusion in a Directors and Officers Liability Insurance policy. This exclusion is used to define the circumstances in which...
The term Insured may refer to an individual or organization who is covered by an insurance policy. In order to be considered an Insured, the individual or organization must have...
The term Insurability of Fines and Penalties may refer to the ability of an insurance company to provide coverage for fines and penalties that a company may face due to...
Incurred but not reported (IBNR) is a term used by insurance companies to describe potential claims they may pay in the future. IBNR refers to covered incidents or perils that...
An insurance audit, in the realm of commercial insurance, refers to a process conducted by an insurance company to verify the accuracy and adequacy of the information provided by a...
An insured contract is a type of contract that involves the transfer of risk from one party to another through insurance coverage. The term refers to a contract that includes...
IP litigation refers to legal disputes and court proceedings related to intellectual property (IP) rights, such as patents, trademarks, copyrights, and trade secrets. These disputes can arise when one party...
An insuring agreement is a contractual agreement between an insurance company and the policyholder. It defines the scope of coverage and the obligations of the insurance company to pay for...
An indemnitee is a person or entity that receives indemnification (compensation for harm or loss) under an insurance policy or contract. The term refers to the party who is protected...
Intellectual property refers to a valuable and intangible asset that arises from original creations of the mind, such as inventions, artistic works, trademarks, and confidential business information. It encompasses a...
Indemnity payments, in the realm of commercial insurance, refer to financial compensation provided by an insurance company to a policyholder or a third party as a means of restoring the...
Intrastate commerce refers to the commercial activities and transactions that take place exclusively within the boundaries of a single state or jurisdiction. It is a term used to describe the...
Insurance carrier, a fundamental term in the insurance industry, refers to the company responsible for providing insurance policies and coverage to individuals, businesses, or organizations. The definition of an insurance...