Insurance Information
Absolute Liability
Liability for damages even though fault or negligence cannot be proven. (Liability without fault.)

Accident
An event or occurrence which is unforeseen and unintended. A sudden unexpected event, identifiable in time and place.

Accidental Bodily Injury
Injury to the body as the result of an accident.

Accidental Death and Dismemberment
A benefit purchased through an endorsement which covers loss due to bodily injury caused solely through accidental means.

Accidental Death Benefit
A benefit paid in addition to the face amount of a life insurance policy, if the insured dies as the result of an accident. Sometimes referred to as "double indemnity."

Accident Insurance
A contract purchased to guarantee compensation for a specific loss due to an accident.

Actual Cash Value
1) The cost of replacing or restoring property at prices prevailing at the time and place of the loss, less depreciation, however caused;
2) replacement cost minus depreciation.

Additional Parties/Insured
A person other than the named insured has a financial interest in the vehicle.

Adjuster
A person who investigates and settles claims for an insurance carrier.

Adjusting
The process of investigating and settling claims with or by an insurance carrier.

Adverse Carrier
Another insurance company that may be a party in any given claim or loss related to an accident.

Agent
An insurance company representative licensed by the state who solicits, negotiates or effects contracts of insurance, and provides service to the policyholder for the insurer.

Ambulatory Care
Medical services that are provided on an outpatient (nonhospitalized) basis. Services may include diagnosis, treatment, and rehabilitation.

Application
A signed statement of facts made by a person applying for insurance and then used by the insurance company to decide whether or not to issue a policy. The application becomes part of the insurance contract when the policy is issued.

Arbitration
A form of alternative dispute resolution where an unbiased person or panel renders an opinion as to responsibility for or extent of a loss

Association Group
A group formed from members of a trade or a professional association for group insurance under one master insurance contract.

Automobile Liability Insurance
Protection for the insured against financial loss because of legal liability for car-related injuries to others or damage to their property. Insurance which agrees to pay on behalf of the policy holder sums he/she may be legally required to pay to others as the result of negligence.

Automobile Physical Damage Insurance
Coverage to pay for damage to or loss of an insured automobile resulting from collision, or other than collision(comprehensive) fire, theft, or other perils.