The world of insurance consists of extensive terminology that can be very confusing. Arbitration? Subrogation? Retrospective Rating? What does it all mean?! Your frustration and confusion are heard!
Click below to check out the National Associate of Insurance Commissioners’ all-inclusive glossary of insurance terms:
The definitions in this glossary are developed by the NAIC Research and Actuarial Department staff based on various insurance references. These definitions represent a common or general use of the term. Some words and/or phrases may be defined differently by other entities, or used in a context such that the definition shown may not be applicable.