aa.co.nz

Website:https://www.aa.co.nz/
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Definitions (19)

1

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term


Meaning
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accident


An event causing injury to an insured person and was not intended by them to happen
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actuary


Someone with professional training in mathematical and technical aspects of insurance, especially calculating premiums
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broker / adviser


Someone who specialises in insurance. They may have arrangements with more than one insurer so they can place their client's business where it best suits the client
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claim


A request for payment according to the policy terms made by the policy owner to the insurer
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cover


The amount of protection an insurance policy provides
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exclusion


A provision in a policy that excludes cover for certain events or conditions, E.g. dangerous pastimes or pre-existing conditions for life insurance
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insured


Someone covered by an insurance policy
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memorandum of transfer


The document that records a change of ownership on a policy
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nominated / joint second owner


A person who you've chosen to receive benefits payable from your policy
Source: aa.co.nz


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