Glossary of terms used on this site
Restoration to the victim of a loss by payment, repair or replacement.
Interest in property such that loss or destruction of the property could cause a financial loss.
A representative of the insurer who seeks to determine the extent of the insurer's liability for loss when a claim is submitted. Independent insurance adjusters are hired by insurance companies on an "as needed" basis and might work for several insurance companies at the same time. Independent adjusters charge insurance companies both by the hour and by miles traveled. Public adjusters work for the insured in the settlement of claims and receive a percentage of the claim as their fee. A.M. Best's Directory of Recommended Insurance Attorneys and Adjusters lists independent adjusters only.
|Insurance Institute of America (IIA)|
|Insurance Regulatory Information System||
Introduced by the National Association of Insurance Commissioners in 1974 to identify insurance companies that might require further regulatory review.
The return received by insurers from their investment portfolios including interest, dividends and realized capital gains on stocks. It doesn't include the value of any stocks or bonds that the company currently owns.
|Investments in Affiliates||
Bonds, stocks, collateral loans, short-term investments in affiliated and real estate properties occupied by the company.