Dictionary Of Insurance Terms May 2026

: A requirement that the person buying insurance must suffer a financial loss if the insured event occurs.

: A formal document that changes or adds provisions to the original insurance policy. Industry Specific Terminology Key terms used in underwriting and claims processing: Dictionary of Insurance Terms

: A fundamental principle requiring both the insurer and the insured to act with total honesty and disclose all material facts. : A requirement that the person buying insurance