| A | B |
|---|
| abandonment | The relinquishment or surrender of all rights and interests in an insured property to the insurance company. |
| acceptance | Takes place when the agent binds coverage or the policy is issued. |
| accident | A sudden and unexpected eent that results in a financial loss. |
| act of God | Accident or event resulting from natural causes, without any human intervention, that reasonable foresight could not have prevented. |
| Actual cash value (ACV) | The replacement (current cost of an item minus depreciation from wear and tear or obsolescence. |
| actuary | A mathematician who specialized in the field of insurance. Determins, on the basis of existing experience, the rate to be charged. |
| additional insured | An individual or business, other than the named insured on the delcaratoins page, who has a financial interest. |
| additional living expense insurance. | Coverage that pays for extra necessary living costs incurred during the time it takes to repair or replace property. |
| adjuster | The employee of an insurance company, or an independent contractor, responsible for determining the cause and amount of loss, insurance company's liability and satisfactory agreement from parties involved. |
| admitted company | An insurer that meets the licensing criteria of the state it wishes to do business in and has received a certificate of authority |
| adverse selection | Selection against the best interests of the insurance company (e.g. people near rivers purchasing flood insurance). |
