Combined Ratio

The ratio of losses paid plus loss reserves to premiums earned, used by insurers to measure underwriting profitability and pricing adequacy.

The process by which an insurer evaluates the risk of insuring a person or property and determines coverage terms and premium rates.

A business professional who analyzes probabilities of risk and risk management, including calculation of premiums, dividends, and other applicable insurance industry standards.

Insurance purchased by insurance companies to transfer portions of their risk portfolios to other insurers, reducing the likelihood of large payouts from claims.

An insurance company created and owned by a business or group of businesses to insure their own risks, providing more control over coverage and potential cost savings.

Insurance coverage from non-admitted insurers for risks that standard insurance companies won't cover, often for unusual or high-risk exposures.