Associate In Insurance Accounting And Finance (aiaf)
Professional designation earned after the successful completion of four national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as insurance company operations (marketing, underwriting, rate making, claims adjusting, reinsurance, and loss control); statutory accounting for property and liability insurers; insurance information systems; and insurance company finance. Program of study is recommended for individuals involved in the accounting, statistical, and financial areas of an insurance company.
Popular Insurance Terms
Coverage under the Homeowners Form-4 (HO-4) for the insured's personal property and loss of use against fire and/or lightning; vandalism and/or malicious mischief; windstorm and/or hail; ...
Document providing additional medical information on an applicant. This statement is requested by the insurance company when the medical examination and/or application points to medical ...
Trust whereby asset management is provided until a child reaches the age of majority. Upon reaching majority, the child has full use and control over the assets. The grantor of the trust ...
Bond issued to a contractor guaranteeing that the supplier (individual posting the bond) will provide all of the necessary materials for the satisfactory completion of the contracted ...
Value or property given by an individual to a trustee who holds and administers it for the benefit of the donee (recipient of the gift). For example, a father entrusts a life insurance ...
Coverage during the operation of a ship for: Property of Ship (ship's hull, tackle, passenger fittings, equipment, stores, boats), and ordnance; Property Damage Liability (ship's owner ...
Program designed as protection for political risk (action taken by a foreign government resulting in financial loss to companies trading or investing overseas). Coverage is provided for ...
Adaptation of a standard insurance contract for special needs. Standard forms do not cover all needs but they can be adapted by an underwriter, broker, or an insurance company at the ...
The definition of short rate cancellation is a penalty method that is applied when an insurance policy is canceled before its expiration date. This penalty method uses a table to determine ...
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