Versions Compared

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.

...


AttributeDescription
1Basic Limitthe minimum limits of liability that can be purchased by an insured
2Basic Limit Lossa property insurance limit that is less than the total property values at risk but high enough to cover the total property values actually exposed to damage in a single loss occurrence.
3Car Yearsthe proportion of a
calendar year during which a private passenger motor vehicle can be identified
as being insured for physical damage insurance coverage.
4CoverageCode that identifies the exposure coverage associated with the manual class code.
5Earned PremiumThe term earned premium refers to the premium collected by an insurance company for the portion of a policy that has expired.
6Excess Limit LossLosses in Excess of Policy Limits — this is an expression used in reinsurance agreements that refers to damages awarded by a court against an insurer in favor of the insured, due to the insurer's having failed to settle a third-party claim against the insured within the policy limits by reason of bad faith, fraud, or gross negligence.
7Excess Limitthe highest amount of insurance that will be offered in a given situation in excess of basic limits.
8Incurred CountLosses Incurred — the total amount of losses sustained during a given time period that are paid and unpaid but reserved.
9Incurred LossThe total amount of paid claims and loss reserves associated with a particular time period, usually a policy year. It does not ordinarily include incurred but not reported (IBNR) losses.
10LOBLine of Business
11StateOne of the United States
12TerritoryGeographical location, sub unit of state
13Zipcode5 digit postal code

...