Loss Ratio

The sum of the loss ratio and expense ratio, measuring an insurer's overall underwriting profitability. A ratio below 100% indicates underwriting profit.

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

The amount paid by the policyholder to the insurance company for coverage, typically on a monthly, quarterly, or annual basis.

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

The basis of a claim for damages under the terms of an insurance policy.

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.