An authorized unrecognized reinsurer is an unlicensed reinsurer authorized to carry out reinsurance in a state or country (which has set up a security trust fund).
Auto is a term currently defined in insurance policies by the Insurance Services Office, Inc. (ISO), commercial vehicles and commercial insurance policies (CGL), any land vehicle, trailer or semi-trailer designed to travel on public roads; or any other land vehicle subject to liability or liability law or other motor vehicle insurance law if it is licensed or located primarily in a garage. The term “car” does not include “mobile equipment”. This determination is important in determining whether liability coverage is provided under an auto liability policy or a CGL policy (in the case of mobile equipment).
Auto Coverage Symbols are Arabic numerals (1-9 and 19 for commercial vehicles, 21-31 for garages, 41-50 and 59 for truckers, and 61-71 and 79 for motor vehicles) used to indicate which vehicle category applies to commercial vehicles. different auto policy coverages will apply. Symbols 10 (Business Car), 32 (Garage), 51 and 52 (Truckers), and 72 and 73 (Car Transporter) are custom symbols available through the use of the Covered Vehicle Designation Symbol (CA 99 54), which allows the insurer and the named policyholder to agree with some modified wording that better fits the definition of “insured vehicles” for the policy in question. Covered automotive symbols, which are critical to determining the scope of a policy’s coverage, appear on the auto policy announcement page next to each coverage purchased on the policy (for example, liability, personal injury protection (PIP), auto medical payments, and uninsured payments). and underinsured motorists (UM/UIM)). The symbols reflect the choice of the named insured as to which types of vehicles are insured for a given coverage (eg own cars, rental cars, cars not owned by them).
An automatic additional insured confirmation is a confirmation sometimes attached to liability insurance policies that automatically grants insured status to a person or entity that the specified insured is contractually obligated to add as insured. May only apply to certain types of contracts or legal entities. Also called “general additional insured endorsement”.
Auto-insured refers to individuals or entities who have been granted insured status under the terms of an unapproved policy. Most auto-insureds are members of groups closely associated with the named insureds, such as directors, officers and employees of the named insureds.
An automatic premium credit is an additional provision in life insurance that allows the insurer to pay out of the cash value any premiums due at the end of the grace period. This provision is useful for preventing inadvertent policy termination.
An automatic contract is a reinsurance contract under which the ceding company must assign a certain class of risks, which the reinsurer must accept in accordance with the terms of the contract.
Automatically convertible term life insurance is a term life insurance policy that converts on a predetermined date into permanent life insurance without the explicit instructions of the policyholder.
The Automotive Claims Specialist (ACLA) is a specialization in claims law offered by the American Educational Institute (AEI). This requires successful completion of both the AEI Legal Principles and Automotive Claims Self-Study Programs.
The Automotive Claims Specialist (ACLS) is a specialization in claims law offered by the American Educational Institute (AEI). This requires successful completion of the AEI Automotive Claims Self-Study Program.