The minimum amount of premium an insurer will retain in the event the policy is cancelled before its expiry.

An insurance agent works for only one company and sells policies only for that insurer.

One who has temporary possession of personal property of others for a purpose other than sale and who is compensated for caring for it.

A written or oral agreement from the insurer giving temporary protection to an insured pending issue of the policy.

Generally defined in liability policies to mean bodily injury, sickness or disease sustained by a person, including death resulting from any of these at any time.

One who is an independent middleman (not tied to a particular insurance company) who obtains insurance for his clients from insurance companies or their brokers.

Generally defined as the unlawful taking of property from within the premises by a person unlawfully entering or leaving the premises, as evidenced by marks of forcible entry or exit.

Sum paid as remuneration to the broker for business placed with an insurer.

A condition imposed upon an insured under the policy required them to do or not to do something during the term of the policy.

A system of separate ownership of individual units in a multiple-unit building.