Loss RunsReports showing historical claims and loss activity for specified policy periods.
DeductibleThe amount or structure the insured may be responsible for before or as part of a covered loss, depending on the policy.
LimitThe maximum amount available under a coverage, subject to the policy terms and applicable sublimits or aggregates.
ExclusionA policy provision that removes or restricts coverage for specified risks, causes, property or circumstances.
EndorsementA document that changes the standard policy wording, coverage, terms or information.
Premium AuditA post-policy review used on certain policies to reconcile estimated exposure, such as payroll or sales, with actual exposure.
Certificate of InsuranceA document providing evidence of certain insurance information at a point in time; it generally does not amend the policy itself.
Additional InsuredA person or organization afforded insured status under specified policy wording or endorsement, subject to its terms.
AOR / BORAgent or Broker of Record documentation used in certain circumstances to designate the producer representing an insured with a carrier.
UnderwriterThe insurance professional evaluating risk, eligibility, terms and pricing on behalf of a carrier.
SubmissionThe information package presented to an insurance carrier for underwriting consideration.
BindTo put agreed insurance coverage into effect subject to carrier authorization and binding requirements.
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