Previous insurance record of the insured or proposer. Unsatisfactory insurance history is material (utmost good faith) and must be disclosed to the insurer. Where proposal forms are used, it is customary for the insurer to include questions about present insurances; previous declinatures; imposition of special terms or increased premiums by previous insurers; refusals to renew; cancellations.
Insurance Encyclopedia
Insurance in Force
The annual premium payable on current contracts of insurance under health insurance policies.
Insurance in force (Health Insurance/ Life Insurance)
In life insurance, the amount of the policies that remain to be paid out. In health insurance, the yearly premium due on current policies.
Insurance Information Bureau of India (IIB)
IIB was set up by IRDA in 2009 with participation of all stakeholders in insurance with special emphasis on the use of analytics in the industry for better structuring and pricing of policies. The IIB is collating data from the industry and then analyzing them. IIB would become self-reliant after a certain time once it started to sell analyzed information to the insurance companies both in India and abroad. The Bureau provides a bundle of services related to motor insurance to multiple stakeholders such as public, police, transport departments and insurers through its service package titled V- Seva. The services are call centre-, SMS- and web-based and provide information regarding insurance status of the vehicle, stolen vehicles, ownership of recovered vehicles, accident record etc. IIB handles the Central Index Server which acts as a nodal point between different Insurance Repositories and helps in de-duplication of demat accounts at the stage of creation of a new account. The Central Index Server also acts as an exchange for transmission/routing of information pertaining to transactions on each policy between an insurer and the insurance repository.
Insurance Information Institute in New york
Educational and public relations organization for all lines of Insurance, except life and health.
Insurance Institute for Highway Safety
A nonprofit research organization, well-known for its auto crash tests.
Insurance Institute of America
A group charged with creating programs and examinations in insurance and related subjects, such as underwriting, adjusting, and risk management.
Insurance Institute of America (IIA)
An institution offering a variety of insurance diplomas after the successful completion of certain examinations.
Insurance Institute of America Inc (IIA)
Non-profit educational Institute that develops and administers programs leading to designation in risk management, claims, Underwriting loss control and other Insurance functions.
Insurance Institute of Canada (I.I.C.)
The educational body of the general insurance industry. It consists of an association of provincial institutes. Among other things, it conducts correspondence courses, holds annual examinations, and grants diplomas.