In statistics, a technique of modeling the relationship between variables by fitting a line to a scatter of dots.

Restoration of a lapsed life insurance policy to its original status.

The acceptance by one or more insurers of a portion of the risk underwritten by another insurer that holds a contract for the entire coverage.

A process involving the transfer of risk from one insurer to another insurer.

A contractual agreement in which one insurer agrees to insure the assumed liabilities of another insurer, a self-insured firm, or another reinsurer.

Portion of the risk that the primary or original insurer transfers to the reinsurer.

Insurer who accepts all or a portion of the liabilities of the ceding or primary company.

A policy the insured can renew without presenting evidence of insurability, also known as guaranteed renewable.

A licensed offshore insurer owned by an outside organization, e.g., a broker, reinsurer, insurance company, or other business enterprise, which makes its services available to

The cost to replace damaged property with like kind and quality without taking into account depreciation.

Providers are “invited” or requested to provide a proposal for insurance coverages; typically, the providers are assigned markets from which they will obtain proposals and

Rate of return required from an investment to compensate for the level of risk involved.

“The matter has been decided,” a legal concept of common law stating that the prior decisions of judges and juries have determined the outcome. See

In claims administration, a letter sent by an insurer to a claimant to preserve the insurer’s right to deny a claim following their investigation by

Amount of money earmarked for a specific purpose.

After a period of total disability, the insured is able to return to work. However, the insured is unable to do one or more important

A provision in a disability income policy that provides for benefits to be paid when the insured can do some, but not all, of his

Separate charge intended to subsidize an assigned risk or involuntary market.

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Usually associated with a long-term care situation, and normally occurs when a family member of the patient who is providing a majority of the care

Internal funds retained from net income and not distributed to holders of common stock.

Acceptance or assumption of the risk of loss, which means any loss is paid out of pocket.

1) Internal funds used to pay losses; 2) budgeted losses plus the “tolerance corridor.” See Tolerance corridor; 3) assumption of risk of loss as through

Amount of loss that is self-insured. It is usually expressed on a per occurrence basis and is sometimes referred to as the self-insured retention (SIR).

Graphic depiction of an organization’s financial ability and risk appetite.