A measure of the profitability of an insurer’s day-to-day underwriting activity. It is the ratio of claim-related losses (net of reinsurance) and expenses to earned premiums (net of reinsurance).
Insurance Encyclopedia
Combined single limit
A single limit of protection on a liability policy for all sections of cover, i.e. bodily injury, property damage and passenger liability, in contrast to a policy with split limits, i.e. specific limits for each section. This approach applies in aviation insurance where one overall limit applies to three separate sections.
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Total liability due to bodily injury and property damage combined, as one single sum of coverage.
Combined single limit (CSL)
Liability policies commonly offer separate limits that apply to bodily injury claims and to claims for property damage. 50/100/25 is shorthand under such a policy for $50,000 per person/$100,000 per accident for bodily injury claims and $25,000 for property damage. A combined single limits policy might cover for $100,000 per covered occurrence whether bodily injury or property damage, one person or many.
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Single limit of liability coverage for both bodily injury and/or property damage, contrasted with split limits, where specific limits apply to bodily injury and property damage separately.
Combustible
Any substance capable of burning.
Combustible Liquid
A liquid having a flash point at or above 100o F.
Combustible materials
Materials likely to take fire and burn. The actual materials that insurers consider will ignite first are: waste and rubbish; combustible elements in structure and fittings; electrical insulation; textiles; flammable liquids; packing and wrapping.
Combustible Vapor Detector
A portable instrument that detects hydrocarbon vapors. It is used to determine if accelerants were used in a suspicious fire. It is sometimes called a sniffer.
ComFrame
The IAIS’s Common Framework for the Supervision of Internationally Active Insurance Groups is intended to provide supervisors with a supervisory framework for internationally active insurance groups.
Comma
One of the punctuation symbols used in the diagnostic code book titled International Classification of Diseases, Ninth Revision, Clinical Modification (ICD-9-CM) . It is used in the Tabular List section of the code book after an incomplete term that needs one or more of the essential modifiers that follow to make it assignable to a given category.
Commencement of coverage
Date that insurance coverage begins.