An initialism is where a long phrase is abbreviated to its initial letters but the letters are pronounced individually, not spoken as a word - for ⦠GLOSSARY OF COMMON INSURANCE TERMS Version 2.00 The following terms are commonly used in the insurance market and may well appear in your insurance policy arranged by us. Comprehensive Physical Damage Coverage. & S. clause. Read this list of abbreviations to learn terms relevant to adding coverage to an automobile insurance policy. The abbreviation is F.C. Premium: The amount of money an insurance ⦠Learn insurance terms and abbreviations ihmo with free interactive flashcards. The most commonly used cargo insurance terms have been established by the International Chamber of Commerce Incoterms© link. A term used when an insurance company requests that you submit multiple repair estimates for consideration. Health Insurance Terms Glossary | Medical Mutual. An acronym is a new word created from the initial letters of a long name or phrase, for example, NATO (North Atlantic Treaty Organization). 1. Donât be intimidated! Insurance Terms & Abbreviations. âThe Star-Ledger; Summary: Insurance Abbreviation. Property insurance provides coverage for property that is stolen, damaged, or destroyed by a covered peril. PLAY. This coverage is subject to the terms, limits and conditions of your policy contract. These definitions represent a common or general use of the term⦠Casualty Liability or loss resulting from an accident. Condo Insurance. Weâre listing 10 commonly used insurance terms that youâll benefit from knowing. Get the top FR abbreviation related to Insurance. Insurance terms, definitions and explanations are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in individual insurance contracts, policies or declaration pages, which are controlling. 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International Risk Management Institute, Inc. 12222 Merit Drive, Suite 1600 Dallas, TX 75251-2266 (972) 960-7693 (800) 827-4242 Loan/lease payoff coverage . Terms Commercial insurance is divided into two main categories: property insurance and casualty insurance. A type of homeowner's insurance that meets the ⦠There is more than one type of abbreviation. It pays a benefit to a designated beneficiary only when the insured dies within that specified period which can be one, five, 10 or even 20 years. Marine Insurance Terms and Abbreviations. Consumer Driven Health Plan. when used as a subject label or in a work title. Refer to our list of common insurance acronyms here to decipher your policy, claims letters, and more from all manner of insurance companies. Many of the terms you encounter when dealing with health insurance are not familiar. COMMONLY USED ACRONYMS / ABBREVIATIONS AAA American Academy of Actuaries or American Agents Association AAC/MIS Americas Association of Cooperative/Mutual Insurance Societies (Formerly North American Association of the ICIF) AACB American Association for Consumer Benefits AACI American ⦠A term used when an insurance company requests that you submit multiple repair estimates for consideration. Free Insurance ⦠Learn insurance terms and abbreviations with free interactive flashcards. Abbreviation > Term Word in meaning Term > Abbreviation ... New York State Public Employees and Retirees Long Term Care Insurance : OAIN: Online Auto Insurance News : OASDHI: Old Age, Survivors, Disability and Health Insurance Act : OASDI: Old Age Survivors Disability Insurance : OBIS: Online Brokerage Insurance ⦠Insurance insurance terms and abbreviations online automobile insurance policy this glossary are developed by the NAIC Research and Actuarial Department staff on. 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