A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
I- I. Ia Ib Ic Id If Ig Il Im In Ip Ir Is It

Issue risk policy

Covers the risk of loss to a reversioner (the owner of property which will revert to him on the determination of a particular estate, e.g. death of a life tenant) caused by the birth of a child to the life tenant. The policy is on an indemnity basis.

Issued and renewed

a term used in accounting for excess of loss (reinsurance) treaties whereby all claims under policies issued or renewed in the treaty year are covered, no matter in what year they may occur; the reinsurer is at risk until all policies covered by the treaty for that year have expired and all losses have been settled.

Issuing bank

Financial institution that sells and issues life insurance policies in its own name. It also issues its contracts, administers its records, and invests the assets of its insurance department.

Item

(i) A term used to identify a statement in a policy as to what is insured. In a Fire policy one might refer to the contents item, meaning the coverage in the policy which applies to the contents. (ii) An individual entry, such a piece of jewellery, listed with its description and valuation on a schedule by a policy showing items covered.
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A general term that can be used to refer to an individual piece of property that is listed as covered within a policy. This can also mean a schedule within a policy that lists all the property that is insured.
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US: A policy, binder, endorsement, cancellation, audit, etc.