Insurance Terminology and Glossary

A waiting period in insurance refers to the specified duration during which coverage is limited or certain benefits are inaccessible […]

Policy issuance is a critical phase in the insurance lifecycle, serving as the formal confirmation of coverage between insurers and

Coverage territory is a fundamental component of insurance policies, defining the geographical or locational scope within which coverage applies. Understanding

Reserves are fundamental components of the insurance industry, serving as financial safeguards to ensure claims are met reliably and promptly.

The solvency margin is a critical measure of an insurance company’s financial health, reflecting its capacity to meet long-term obligations

Profit margin is a fundamental financial metric that measures the profitability of an insurance company, reflecting its ability to generate

Loss ratio is a fundamental metric in the insurance industry, serving as a key indicator of an insurer’s financial health

Insurance fraud remains a persistent challenge within the insurance industry, costing billions annually and undermining trust and stability. Understanding its

Moral hazard is a fundamental concept in insurance that reflects how individuals’ behavior can change when they are protected from

Adverse selection presents a significant challenge within the insurance industry, arising when individuals with higher risk levels are more likely