A | B | C | D | E | F | G | H | I | L | M | N | O | P | Q | R | S | T | U | V | W
Additional Insured or Additional Interest
A person or an organization, other than the named insured or covered person, who
is protected under the named insured’s auto policy.
Accidental Death Benefit
In a life insurance policy, benefit in addition to the death benefit paid to the
beneficiary, should death occur due to an accident. There can be certain
exclusions as well as time and age limits.
Actual Cash Value
Cost of replacing damaged or destroyed property with comparable new property,
minus depreciation and obsolescence. For example, a 5-year-old sofa will not be
replaced at current full value because of a decade of depreciation.
Actuary
A specialist in the mathematics of insurance who calculates rates, reserves,
dividends and other statistics.
Adjustable Rate
An interest rate that changes based on changes in a published market-rate
index.
Adjuster
A representative of the insurer who seeks to determine the extent of the
insurer’s liability for loss when a claim is submitted.
Agent
An individual who sells and services insurance policies in either of two
classifications:
1. Independent agent represents at least two insurance companies and
services clients by searching the market for the most advantageous price for the
most coverage. The agent’s commission is a percentage of each premium paid and
includes a fee for servicing the insured’s policy.
2. Direct or career agent represents only one company and sells only its
policies. This agent is paid on a commission basis in much the same manner as
the independent agent.
Aggregate Limit
Usually refers to liability insurance and indicates the amount of coverage that
the insured has under the contract for a specific period, usually the contract
period, no matter how many separate accidents might occur.
Annuity
An agreement by an insurer to make periodic payments that continue during the
survival of the annuitant(s) or for a specified period.
Anti-Theft Device
Devices designed either to reduce the chance an auto will be vandalized or
stolen, or assist in its recovery. Examples include car alarms, starter
disablers, motion detectors and recovery systems.
Assets
Assets refer to all the available properties of every kind or possession
that might be used to pay debts.
Assigned Risk
A risk not ordinarily acceptable to insurers which is, according to state law,
assigned to insurers participating in a plan in which the insurers agree to
accept their share of these risks.
Automobile Insurance
A form of insurance that protects against losses involving autos. Different
types are available depending on the needs and wants of those buying policies.
Examples of coverage types include: bodily injury liability, property damage
liability, medical payments, and collision and comprehensive coverage for
physical damage to the insured’s vehicle.
The least amount of liability coverage that can be purchased, which is typically
the minimum amount required by state law.
Benefit Period
In health insurance, the number of days for which benefits are paid to the named
insured and his or her dependents. For example, the number of days that benefits
are calculated for a calendar year consists of the days beginning on Jan. 1 and
ending on Dec. 31 of each year.
Broker
Insurance salesperson that searches the marketplace in the interest of
clients, not insurance companies.
Broker-Agent
Independent insurance salesperson who represents particular insurers
but also might function as a broker by searching the entire insurance market to
place an applicant’s coverage to maximize protection and minimize cost. This
person is licensed as an agent and a broker.
Bodily Injury Liability
Legal liability for causing physical injury or death to another.
Equity of shareholders of a stock insurance company. The company’s capital
and surplus are measured by the difference between its assets minus its
liabilities. This value protects the interests of the company’s policy owners in
the event it develops financial problems; the policy owners’ benefits are thus
protected by the insurance company’s capital. Shareholders’ interest is second
to that of policy owners.
Captive Agent
Representative of a single insurer or fleet of insurers who is obliged to
submit business only to that company, or at the very minimum, give that company
first refusal rights on a sale. In exchange, that insurer usually provides its
captive agents with an allowance for office expenses as well as an extensive
list of employee benefits such as pensions, life insurance, health insurance,
and credit unions.
Casualty
Liability or loss resulting from an accident.
Casualty Insurance
Insurance that is primarily concerned with losses caused by injuries to persons
and legal liability imposed upon the insured for such injury or for damage to
property of others.
Claim
A demand made by the insured, or the insured’s beneficiary, for payment of
the benefits as provided by the policy.
Collision Insurance
This covers loss to the insured person’s own auto caused by its collision with
another vehicle or object.
Coinsurance
In property insurance, requires the policyholder to carry insurance equal to
a specified percentage of the value of property to receive full payment on a
loss. For health insurance, it is a percentage of each claim above the
deductible paid by the policyholder. For a 20% health insurance coinsurance
clause, the policyholder pays for the deductible plus 20% of his covered losses.
After paying 80% of losses up to a specified ceiling, the insurer starts paying
100% of losses.
Combined Single Limit
Bodily Injury and Property Damage coverage expressed as one single amount of
coverage.
Commercial Lines
Refers to insurance for businesses, professionals and commercial establishments.
Commission
Fee paid to an agent or insurance salesperson as a percentage of the policy
premium. The percentage varies widely depending on coverage, the insurer and the
marketing methods.
Convertible
Term life insurance coverage that can be converted into permanent insurance
regardless of an insured’s physical condition and without a medical examination.
The individual cannot be denied coverage or charged an additional premium for
any health problems.
Copayment
A predetermined, flat fee an individual pays for health-care services, in
addition to what insurance covers. For example, some HMOs require a $10
copayment for each office visit, regardless of the type or level of services
provided during the visit. Copayments are not usually specified by percentages.
Coverage
The scope of protection provided under an insurance policy. In property
insurance, coverage lists perils insured against, properties covered, locations
covered, individuals insured, and the limits of indemnification. In life
insurance, living and death benefits are listed.
Covered Person
This refers to the individuals (named insured, spouse, resident relatives, etc.)
insured under a policy contract.
Customized Equipment/Special Equipment
Items not included in standard insurance options available for cars. These may
include extra electronic equipment, special paint or exterior items, or
amenities added to the inside of a van or truck.
The limit of insurance or the amount of benefit that will be paid in the
event of the death of a covered person.
Deductible
The amount an insured person must pay before the insurance company pays the
remainder of each covered loss, up to the policy limits.
Defensive Driver Course
A class to enhance driving skills. These courses may make drivers eligible for
discounts on their premiums.
Dividend
The return of part of the policy’s premium for a policy issued on a
participating basis by either a mutual or stock insurer. A portion of the
surplus paid to the stockholders of a corporation.
Drive-Other-Car Endorsement
Optional coverage that broadens the definition of a covered auto to include
non-owned vehicles the insured person operates.
Driver Education
State accredited educational course that consist of at least 30 hours of
professional classroom instruction.
Driver Training
State accredited training course that consists of at least six hours of
behind-the-wheel professional instruction.
The portion of a premium that has been “used up” during a policy term. With a
one-year policy, half of the total premium has been earned after six months.
Effective Date/Inception Date
The date that coverage begins on an insurance policy.
Exclusions
Items or conditions that are not covered by the general insurance contract.
Expiration Date
The date and time your coverage ends. Generally, your coverage ends one minute
after midnight on the date listed.
Exposure
Measure of vulnerability to loss, usually expressed in dollars or units.
Extended Non-Owner Liability
An endorsement that provides broader liability coverage for specifically named
people operating any non-owned automobile or trailer. It covers non-owned autos,
use of autos to carry people or property for a fee, and individuals driving
employer-furnished cars who do not own vehicles themselves.
Financial ratings reflect a rating organization’s opinion on the financial
strength and ability to meet ongoing obligations to policyholders. The ratings
organizations most commonly identified with the insurance industry are AM Best,
Standard & Poor’s and Moody’s.
Floater
A separate policy available to cover the value of goods beyond the coverage
of a standard renters insurance policy including movable property such as
jewelry or sports equipment.
If you are making lease or loan payments and you experience a total loss, there
may be a difference (gap) between the market value of your vehicle and what you
still owe on it. This optional coverage pays the difference.
General Liability Insurance
Insurance designed to protect business owners and operators from a wide
variety of liability exposures. Exposures could include liability arising from
accidents resulting from the insured’s premises or operations, products sold by
the insured, operations completed by the insured, and contractual liability.
Grace Period
The length of time (usually 31 days) after a premium is due and unpaid
during which the policy, including all riders, remains in force. If a premium is
paid during the grace period, the premium is considered to have been paid on
time. In Universal Life policies, it typically provides for coverage to remain
in force for 60 days following the date cash value becomes insufficient to
support the payment of monthly insurance costs.
A circumstance that increases the likelihood or probable severity of a loss.
For example, the storing of explosives in a home basement is a hazard that
increases the probability of an explosion.
Hazardous Activity
Bungee jumping, scuba diving, horse riding and other activities not
generally covered by standard insurance policies. For insurers that do provide
cover for such activities, it is unlikely they will cover liability and personal
accident, which should be provided by the company hosting the activity.
Health Maintenance Organization (HMO)
Prepaid group health insurance plan that entitles members to services of
participating physicians, hospitals and clinics. Emphasis is on preventative
medicine, and members must use contracted health-care providers.
Health Reimbursement Arrangement
Owners of high-deductible health plans who are not qualified for a health
savings account can use an HRA.
Health Savings Account
Plan that allows you to contribute pre-tax money to be used for qualified
medical expenses. HSAs, which are portable, must be linked to a high-deductible
health insurance policy.
Hit and Run
An accident caused by someone who does not stop to assist or provide
information.
An identification card issued by your insurance company that provides evidence
of liability insurance. Such evidence is not required in MA.
Indemnity
Restoration to the victim of a loss by payment, repair or replacement.
Independent Insurance Agents & Brokers of America (IIABA)
Formerly the Independent Insurance Agents of America (IIAA), this is a
member organization of independent agents and brokers monitoring and affecting
industry issues. Numerous state associations are affiliated with the IIABA.
Income Taxes
Incurred income taxes (including income taxes on capital gains) reported in
each annual statement for that year.
Insurable Interest
Interest in property such that loss or destruction of the property could
cause a financial loss.
Insurance Adjuster
A representative of the insurer who seeks to determine the extent of the
insurer’s liability for loss when a claim is submitted. Independent insurance
adjusters are hired by insurance companies on an “as needed” basis and might
work for several insurance companies at the same time. Independent adjusters
charge insurance companies both by the hour and by miles traveled. Public
adjusters work for the insured in the settlement of claims and receive a
percentage of the claim as their fee.
Insurance Institute of America (IIA)
An organization which develops programs and conducts national examinations in
general insurance, risk management, management, adjusting, underwriting,
auditing and loss control management.
Lapse in Coverage/Policy Lapse
A point in time when a policy has been canceled or terminated for failure to pay
the premium, or when the policy contract is void for other reasons.
Lender/Lessor
Your lender is the institution to which you make car payments.
Your lessor is the institution to which you make your lease payments.
Liability Insurance
Insurance that pays and renders service on behalf of an insured for loss
arising out of his responsibility, due to negligence, to others imposed by law
or assumed by contract.
Licensed
Indicates the company is incorporated (or chartered) in another state but is
a licensed (admitted) insurer for this state to write specific lines of business
for which it qualifies.
Liquidity
Liquidity is the ability of an individual or business to quickly convert
assets into cash without incurring a considerable loss.
Living Benefits
This feature allows you, under certain circumstances, to receive the
proceeds of your life insurance policy before you die. Such circumstances
include terminal or catastrophic illness, the need for long-term care, or
confinement to a nursing home. Also known as “accelerated death benefits.”
Loss Adjustment Expenses
Expenses incurred to investigate and settle losses.
Loss Control
Methods taken to reduce the frequency and/or severity of losses including
loss prevention and a combination of risk control techniques with risk financing
techniques.
Loss Ratio
The ratio of incurred losses and loss-adjustment expenses to net premiums
earned. This ratio measures the company’s underlying profitability, or loss
experience, on its total book of business.
Loss Reserve
The estimated liability, as it would appear in an insurer’s financial
statement, for unpaid insurance claims or losses that have occurred as of a
given evaluation date. Usually includes losses incurred but not reported (IBNR),
losses due but not yet paid, and amounts not yet due. For individual claims, the
loss reserve is the estimate of what will ultimately be paid out on that claim.
Losses Incurred (Pure Losses)
Net paid losses during the current year plus the change in loss reserves
since the prior year end.
Loss Payee/Lien Holder
A person or entity with a legally secured insurable interest in another’s
property, usually a financial institution that loaned money to buy a car. The
car is the loan collateral. If the auto is damaged in an accident, loss payments
will be made to you and to the loss payee on your policy.
This pays for medical and funeral expenses incurred in an auto accident,
regardless of fault. It will also cover injuries sustained by passengers in your
car, or while you are operating someone else’s car (with their permission), in
addition to injuries you or your family members incur when you are pedestrians.
Multi-car discount
A discount offered by some insurance companies for those with more than one
vehicle insured on the same policy.
MVR – Motor Vehicle Record
A motor vehicle record, also referred to as an MVR, contains information
obtained from an individual’s driver license application, abstracts of
convictions and accidents.
Any person, firm or corporation designated by name as the insured person(s) in a
policy. Others may be protected by policy definition even though their names
aren’t on the policy, such as other drivers operating (with consent) the named
insured’s covered auto.
Named Perils
Perils specifically covered on insured property.
Named Storm Deductible
Amount you must pay out-of-pocket before your homeowner’s insurance will
kick in. Many insurers in hurricane-prone states are selling homeowners
insurance policies with percentage deductibles for storm damage, instead of the
traditional dollar deductibles used for claims such as fire and theft.
Percentage deductibles vary from one percent of a home’s insured value to 15
percent, depending on many factors that differ by state and insurer.
National Association of Insurance Commissioners (NAIC)
Association of state insurance commissioners whose purpose is to promote
uniformity of insurance regulation, monitor insurance solvency and develop model
laws for passage by state legislatures.
Net Income
The total after-tax earnings generated from operations and realized capital
gains as reported in the company’s NAIC annual statement on page 4, line 16.
Net Investment Income
This item represents investment income earned during the year less
investment expenses and depreciation on real estate. Investment expenses are the
expenses related to generating investment income and capital gains but exclude
income taxes.
Net Premium
The amount of premium minus the agent’s commission. Also, the premium
necessary to cover only anticipated losses, before loading to cover other
expenses.
Net Premiums Earned
The adjustment of net premiums written for the increase or decrease of the
company’s liability for unearned premiums during the year. When an insurance
company’s business increases from year to year, the earned premiums will usually
be less than the written premiums. With the increased volume, the premiums are
considered fully paid at the inception of the policy so that, at the end of a
calendar period, the company must set up premiums representing the unexpired
terms of the policies. On a decreasing volume, the reverse is true.
Net Premiums Written
Represents gross premium written, direct and reinsurance assumed, less
reinsurance ceded.
Net Underwriting Income
Net premiums earned less incurred losses, loss-adjustment expenses,
underwriting expenses incurred, and dividends to policyholders.
Nonstandard Auto (High Risk Auto or Substandard Auto)
Insurance for motorists who have poor driving records or have been canceled
or refused insurance. The premium is much higher than standard auto due to the
additional risks.
Non-Owned Auto
Any vehicle that is not owned, borrowed, or leased by the insured, and which is
used primarily for a business purpose.
Occurrence – An event that results in an insured loss.
In some lines of business, such as liability, an occurrence is distinguished
from accident in that the loss doesn’t have to be sudden and fortuitous and can
result from continuous or repeated exposure which results in bodily injury or
property damage neither expected not intended by the insured.
The cause of a possible loss.
Per Occurrence Limit
This refers to the cap amount an insurance company will pay for all claims
arising from a single incident. In an automobile accident, it comprises bodily
injuries sustained by all parties and the second limit is the “per occurrence”
limit: e.g. $100,000(per person)/$300,000(per occurrence)
Per Person Limit
This refers to the cap amount an insurance company will pay for any one person’s
injuries arising from a single incident. In an automobile accident, it comprises
bodily injuries sustained by all parties and the second limit is the “per
occurrence” limit: e.g. $100,000(per person)/$300,000(per occurrence)
Personal Lines
Insurance for individuals and families, such as private-passenger auto and
homeowners insurance.
Personal Auto Policy
The most common auto insurance policy sold today. Often referred to as “PAP,”
this policy is written in simple wording and provides coverage for liability,
medical payments, uninsured/underinsured motorist coverage, and physical damage
protection.
Personal Injury Protection
The name usually given to no-fault benefits in states that have enacted
mandatory or optional no-fault auto insurance laws. Personal Injury Protection
(PIP) usually includes benefits for medical expenses, loss of income from work,
essential services, accidental death, funeral expenses, and survivor benefits.
Physical Damage
Damage to your covered vehicle from perils including (but not limited to)
collision or upset with another vehicle object, fire, vandalism and theft.
Point-of-Service Plan
Health insurance policy that allows the employee to choose between
in-network and out-of-network care each time medical treatment is needed.
Policy
The written documents of a contract for insurance between the insurance company
and the insured. Such documents include forms, endorsements, riders and
attachments.
Policy Period
The period of time in which a policy is in effect. (For example, one year).
Policyholder
One who maintains ownership in an insurance policy. This may refer to the policy
owner or those covered under the policy. See also Named Insured.
Preferred Risk
Any risk considered to be better than the standard risk on which the premium
rate was calculated.
Pre-Existing Condition
A coverage limitation included in many health policies which states that
certain physical or mental conditions, either previously diagnosed or which
would normally be expected to require treatment prior to issue, will not be
covered under the new policy for a specified period of time.
Premium
The price of insurance protection for a specified risk for a specified
period of time.
Premium Earned – The amount of the premium that as been paid for in
advance that has been “earned” by virtue of the fact that time has passed
without claim. A three-year policy that has been paid in advance and is one year
old would have only partly earned the premium.
Premium Unearned
That part of the premium applicable to the unexpired part of the policy
period.
Private Passenger Automobile
A four-wheeled motor vehicle that is subject to motor vehicle registration and
used for private personal use.
Profit
The return received on a business undertaking after all operating expenses
have been met.
Pro Rata Cancellation
Termination of an insurance contract before the policy expiration date on which
the premium returned to the insured person is adjusted in proportion to the
amount of time the policy was in effect.
Qualified High-Deductible Health Plan
A health plan with lower premiums that covers health-care expenses only
after the insured has paid a large amount out of pocket each year. To qualify as
a health plan coupled with a Health Savings Account, the Internal Revenue Code
requires the deductible to be at least $1,000 for an individual and $2,000 for a
family. High-deductible plans are also known as catastrophic plans.
Qualifying Event
An occurrence that triggers an insured’s protection.
In effect, insurance that an insurance company buys for its own
protection. The risk of loss is spread so a disproportionately large loss under
a single policy doesn’t fall on one company.
Renewal
The process of keeping an active policy in force through the issuance of a
renewal policy.
Rental Reimbursement
This optional coverage will reimburse you for a rental car if your vehicle is
unusable due to a covered loss. This coverage will pay all or part of your
rental car costs.
Replacement Cost
The dollar amount needed to replace damaged personal property or dwelling
property without deducting for depreciation but limited by the maximum dollar
amount shown on the declarations page of the policy.
Reserve
An amount representing actual or potential liabilities kept by an insurer to
cover debts to policyholders. A reserve is usually treated as a liability.
Residual Benefit
In disability insurance, a benefit paid when you suffer a loss of income due to
a covered disability or if loss of income persists. This benefit is based on a
formula specified in your policy and it is generally a percentage of the full
benefit. It may be paid up to the maximum benefit period.
Risk Class
Risk class, in insurance underwriting, is a grouping of insureds with a
similar level of risk. Typical underwriting classifications are preferred,
standard and substandard, smoking and nonsmoking, male and female.
Risk Management
Management of the pure risks to which a company might be subject. It
involves analyzing all exposures to the possibility of loss and determining how
to handle these exposures through practices such as avoiding the risk, retaining
the risk, reducing the risk, or transferring the risk, usually by insurance.
A rating system that assigns points for traffic convictions and certain
accidents. Similar to a merit-rating plan, each point increases the surcharge
percentage to the baseline rates.
Short Rate Cancellation
A policy termination in which the refunded premium is not proportional to the
amount of time remaining in the policy period due to the fixed expenses incurred
by the company. The insured will generally pay more for each day of coverage
than if the policy had remained in force throughout the entire policy period.
Standard Auto
Auto insurance for average drivers with relatively few accidents during
lifetime.
Statutory Reserve
A reserve, either specific or general, required by law.
Stop Loss
Any provision in a policy designed to cut off an insurer’s losses at a given
point.
Subrogation – The right of an insurer who has taken over another’s
loss also to take over the other person’s right to pursue remedies against a
third party.
Surplus
The amount by which assets exceed liabilities.
Surrender Charge
Fee charged to a policyholder when a life insurance policy or annuity is
surrendered for its cash value. This fee reflects expenses the insurance
company incurs by placing the policy on its books, and subsequent administrative
expenses.
The length of time for which a policy or bond is in force.
Term Life Insurance
Life insurance that provides protection for a specified period of time.
Common policy periods are one year, five years, 10 years or until the insured
reaches age 65 or 70. The policy doesn’t build up any of the nonforfeiture
values associated with whole life policies.
Tort
A private wrong or harm (other than a breach of contract) committed against
another, resulting in legal liability. A tort is either intentional or
accidental (negligent). Automobile liability insurance is purchased to protect
one from suits arising from unintentional torts.
Total Loss
A loss of sufficient size that it can be said no value is left. The complete
destruction of the property. The term also is used to mean a loss requiring the
maximum amount a policy will pay.
Towing and Labor Costs
This endorsement, which is added to the physical damage coverage, provides
reimbursement up to a specified limit to tow your vehicle or pay for on-site
labor costs.
Coverage for losses above the limit of an underlying policy or policies such
as homeowners and auto insurance.
Underwriter
The person trained in evaluating risks and determining rates and coverages
for them.
Underwriting
The process of selecting risks for insurance and classifying them according
to their degrees of insurability so that the appropriate rates may be assigned.
The process also includes rejection of those risks that do not qualify.
Underwriting Guide
Details the underwriting practices of an insurance company and provides
specific guidance as to how underwriters should analyze all of the various types
of applicants they might encounter. Also called an underwriting manual,
underwriting guidelines, or manual of underwriting policy.
Unearned Premium
The portion of your premium remaining on your policy term. For example, with a
six-month premium, at the end of the first month of the premium period,
five-sixths of the premium is unearned by the insurance company.
Uninsured Motorists Bodily Injury
Uninsured motorists bodily injury coverage (which must be offered in most
states) pays for a covered person’s bodily injuries of which an uninsured or
hit-and-run motorist is legally liable, but unable to pay.
Underinsured Motorists Bodily Injury
Underinsured motorists bodily injury coverage (which must be offered in most
states) pays for a covered person’s bodily injuries of which a person with not
enough insurance is legally liable.
Universal Life Insurance
A combination flexible premium, adjustable life insurance policy.
Usage
This refers to the primary function or purpose in which you intend to operate
your vehicle. For example, if you primarily drive your car to and from work, the
usage is considered “commute; “if you’re self-employed and you primarily drive
to see customers, the usage is considered “business”.
Usual, Customary and Reasonable Fees
An amount customarily charged for or covered for similar services and
supplies which are medically necessary, recommended by a doctor or required for
treatment.
Utilization
How much a covered group uses a particular health plan or program.
A calculation of the policy reserve in life insurance. Also, a mathematical
analysis of the financial condition of a pension plan.
Variable Life Insurance
A form of life insurance whose face value fluctuates depending upon the
value of the dollar, securities or other equity products supporting the policy
at the time payment is due.
Variable Universal Life Insurance
A combination of the features of variable life insurance and universal life
insurance under the same contract. Benefits are variable based on the value of
underlying equity investments, and premiums and benefits are adjustable at the
option of the policyholder.
Viator
The terminally ill person who sells his or her life insurance policy.
VIN Vehicle Identification Number
A Vehicle Identification Number is a 17-digit alpha-numeric code that provides
valuable information concerning the vehicle’s serial number, make, model,
options, and year in official records (like a Social Security number for your
car).
Waiver of Collision Deductible
This option pays your collision deductible when you carry collision coverage on
a vehicle that is damaged by an uninsured or hit-and-run motorist who is at
fault. Coverage applies only when there is actual physical contact and when you
can identify the uninsured driver or vehicle.
Waiver of Premium
A provision in some insurance contracts which enables an insurance company
to waive the collection of premiums while keeping the policy in force if the
policyholder becomes unable to work because of an accident or injury. The waiver
of premium for disability remains in effect as long as the ensured is disabled.
Whole Dollar Premium
Generally, insurance premiums are rounded to the nearest dollar; an amount of 51
cents or more being rounded up to the next dollar, and any amount less than that
being dropped
Whole Life Insurance
Life insurance which might be kept in force for a person’s whole life and
which pays a benefit upon the person’s death.
Windstorm Deductible
Amount you must pay out-of-pocket before your homeowner’s insurance will
kick in. Many insurers in hurricane-prone states are selling homeowners
insurance policies with percentage deductibles for storm damage, instead of the
traditional dollar deductibles used for claims such as fire and theft.
Percentage deductibles vary from one percent of a home’s insured value to 15
percent, depending on many factors that differ by state and insurer.