Claims adjustor who offers his or her services to insurance companies and is compensated by a fee.

A medical examination used to determine whether an injured party claiming injuries is actually injured or to the extent they claim. Independent medical examiners are registered medical practitioners who provide impartial medical assessments of an injured worker to assist decisions about: accepting a claim, ongoing liability and the worker’s level of fitness for work.

A commercial insurance buyer presumed by virtue of its financial size to be able to negotiate insurance contracts with insurers without the protection of insurance regulators. Restrictions may apply on the ability of the insured to recover from a state’s guaranty funds. Under some state insurance laws, an industrial insured must meet size criteria (net worth and number of employees) to be eligible to purchase nonadmitted insurance.

Property insurance for property in transit over land, certain types of moveable property, instrumentalities of transportation (such as bridges, roads, and piers, instrumentalities of communication (such as television and radio towers), and legal liability exposures of bailees. Many inland marine coverage forms provide coverage without regard to the location of the covered property; these are sometimes called “floater” policies. As a group, inland marine coverage forms are generally broader than property coverage forms.
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Property insurance for property in transit over land, certain types of moveable property, instrumentalities of transportation (such as bridges, roads, and piers, instrumentalities of communication (such as television and radio towers), and legal liability exposures of bailees. Many inland marine coverage forms provide coverage without regard to the location of the covered property these are sometimes called &#8220floater&#8221 policies. As a group, inland marine coverage forms are generally broader than property coverage forms.

US: A broad form of insurance, generally covering articles in transit as well as bridges, tunnels and other means of transportation and communication. Besides goods in transit (generally excepting trans-ocean), it includes numerous “floater” policies, such as those covering personal effects, personal property, jewelry, furs, fine arts, and other items.
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UK: A development from marine insurance covering inland transit exposures on road, rail or inland water. It includes goods in transit, carrier’s liability, property in the possession of bailees and movable equipment and property. In the US it may include fixed structures such as bridges and tunnels that are normally included in property insurance.
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Property insurance signaling broad coverage of properties exposed to the transportation peril and those subject to being used or kept at a location other than the insured’s customary premises. Eligible property is identified in the Nationwide Definition of Marine Insurance. Also refers to personal property of significant rarity or value that the owner may want separate coverage.

In the United States, the head of the state’s insurance department or regulatory agency.
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The individual who heads the state’s agency for insurance regulation. This person may also be referred to as the Director or Superintendent, depending on the state.

An organization chartered to operate as an insurer. Any corporation primarily engaged in the business of furnishing insurance protection to the public.
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Every Insurer seeking to carry out the business of insurance India is required to obtain a certificate of registration from the IRDA. (a) The applicant need to be a company registered under the provisions of the Indian Companies Act, 1956. Consequently any person intending to carry on insurance business in India would need to set up separate entity in India. (b) The aggregate equity participation of a foreign company (either by itself or through its subsidiary company or its nominees) in the applicant company cannot exceed twenty six percent of the paid up capital of the insurance company. (c) The applicant can carry on any one of the life insurance business, general insurance business or reinsurance business. Separate companies would be needed if the intent were to conduct more than one business. The name of the applicant needs to contain the words “insurance company” or “assurance company.” (d) A minimum paid up equity capital of rupees one billion in case of an applicant which seeks to carry on the business of life insurance or general insurance; two billion in case of a person carrying on exclusively the business of reinsurance. A promoter is not permitted to hold at any time more than 26 per cent of the paid up capital.

State Funds that provide for the payment of unpaid claims of insolvent insurers.

A type of insurance business, grouped according to the reporting categories used when filing an insurer’s statutory reports.

Major rating organization in property and liability insurance that drafts policy forms for personal and commercial lines of insurance and provides rate data on loss costs for property and liability insurance lines.