Latin term meaning "from the beginning". Usually used in reference to contracts to indicate their existence or validity relates back to their creation like an (unlawful) contract 'ab in [..]

Insurance risks which are accepted by an insurer, not necessarily because the underwriter believes that they are a good underwriting proposition, but more to assist or support a broker whose relations [..]

An event or happening which is generally considered as being beyond human control (earthquake, lightning, flood, cyclone or other natural event).

A loss is generally defined as an actual total loss where the subject matter of the insurance is either totally destroyed or changed to be unable to be used effectively.

Latin term meaning "in proportion to the value". The term is generally used in commerce in reference to certain duties, called ad valorem duties, which are levied at certain rates per cent o [..]

Additional insured risk which are normally added to a standard set of perils. An example are perils such as storm, flood, impact damage etc which are added to the standard fire perils in a fire insura [..]

An insurer who is licensed or authorised to do business in a particular state or country. The insurer does not necessarily need to have a physical presence in that state or territory.

Business interruption coverage for a new premise or operation, based on the expected revenues and profit which will be generated at completion of the project.

The initial premium paid at the beginning of an adjustable insurance contract. Normally at the end of the policy period and/or agreed subsequent periods, the basic premium is adjusted retrospectively [..]

A company owned and established primarily for an organisation to insure its own losses, and transfer catastrophe risks to reinsurers.