Terms starting with I
The term "Insurance Limit," foundational in insurance terminology, is critical for both policyholders and insurers. The definition of 'Insurance Limit' refers to the maximum amount an insurance company will pay...
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...
Insurance capacity, a key concept in the insurance industry, refers to the maximum amount of risk an insurance company or market can assume, based on its financial resources and solvency....
Indemnitor is a term used in insurance and legal contexts, and may refer to a person or entity that agrees to indemnify or compensate another party for any losses, damages,...
Insurance Adjuster may refer to a professional who is hired to investigate and settle insurance claims. An Insurance Adjuster is responsible for determining the amount of compensation that the insured...
The incontestable clause in an insurance policy states that the insurance company cannot contest or challenge the policy's validity after it has been in effect for a certain period. It...
An insurable risk may refer to the potential of any loss that an insurance policy can cover. It is a type of financial risk that is considered to be acceptable...