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I- I. Ia Ib Ic Id If Ig Il Im In Ip Ir Is It

I.B.N.E.R.

Incurred but Not Enough Reported Reserve : A reserve reflecting expected changes (increases and decreases) in estimates for reported claims only (i.e. excluding any true IBNR claims).

I.B.N.R. (INR)

Incurred But Not Reported Reserve : Provision for claims incurred but not reported by the balance sheet date. That is, it is anticipated that there would be a number of policies that have, but for the advice of the claim to the insurer, occurred and therefore are likely to result in a liability on the insurer. The magnitude of this provision can be expected to reduce as the time since the insurance risk on the contract expired extends. The magnitude is also likely to vary depending on the type of insurance risk covered by any particular class of insurance contract.

I.C.A.O.

International Civil Aviation Organization : A specialized agency of the United Nations, with headquarters in Montreal. Its task is to promote general development of civil aviation (e.g. aircraft design and operation safety procedures contractual agreements).

IAIS

The International Association of Insurance Supervisors, established in 1994, represents insurance regulators and supervisors of more than 200 jurisdictions in nearly 140 countries, constituting 97% of the world’s insurance premiums. The IAIS acts as the global standard setter for insurance regulation. The IAIS issues Principles, Standards and Guidance to help insurance supervisors set regulations and carry out their role in supervising insurance companies.

IARD

incendie, accidents et risques divers; meaning fire, accident and other risks, the French equivalent of general insurance.

IATA Inter-Carrier Agreements on Passenger Liability

Following the 1995 Kuala Lumpur conference the IATA Inter-Carrier Agreement (IIA) waived limits on liability for injury to passengers. Subsequently, the IATA Implementing Agreement (MIA) waived the defence in Article 20 (all necessary measures to avoid the damage had been taken, etc.) of the Warsaw Convention up to 100,000 SDRs but the original Article 22 limits should remain in respect of public liability insurance or similar bodies. All UK carriers are required through their air transport licences to increase their limits to 100,000 SDRs. See INTERNATIONAL AIR TRANSPORT ASSOCIATION and EU REGULATION 2027/97.