Terms starting with I

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...

Companies with valuable inventory may often need to transport it, leading to losses due to theft and damage. Also known as property-in-transit insurance or "floater policies," inland marine coverage provides...

Insurable interest may refer to a legal concept that defines the relationship between an individual and the property they are insuring. It is the legal right of an individual to...