Premium amount paid on or before the effective date of a new insurance policy.
Insurance Encyclopedia
Initial rehabilitation evaluation
First procedures by a rehabilitation specialist after a case has been referred (i.e., contact the insured, employer, and physician). Factors investigated relate to medical, psychological, social, vocational, education, and economics to determine what action to take for rehabilitation of the insured.
Initial reserve
Funds set aside by an insurance company at the beginning of the insurance policy year. An initial reserve includes the net annual premium that is due on the policy.
Initialing
The initialing of a slip by an underwriter binds him to accept his line of the insurance. Similarly he signifies his acceptance of subsequent amendments or agreements by initialing a document.