Associate In Underwriting (au)
Definition of "Associate in underwriting (au)"
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 principles of property and liability underwriting, personal lines underwriting, commercial liability underwriting, and commercial property and multiple lines underwriting. Program of study is recommended for individuals who have experience as underwriters or producers.
Popular Insurance Terms
Mathematical relationship resulting from experimentation. For example, the probability distribution for the possible number of heads from four tosses of a fair coin having both a head and a ...
Arrangement between two or more insurance companies under which the parties to the agreement waive their subrogation rights against the other. Most such agreements are no longer in use. ...
Option under a participating life insurance policy in which dividends are left on deposit with the company to accumulate at a specified interest rate. If this option is chosen, it is ...
Agents, managers, and office personnel serving in the branches of an insurance company. ...
Clause in a liability insurance policy under which an insurance company agrees to defend an insured even if a lawsuit is without foundation. The costs of defending the insured are covered, ...
In umbrella liability insurance clause that stipulates that in the event of a loss where there are no underlying policies providing coverage, the deductible will apply. ...
Annual premium expressed on a proportionate basis such as monthly, quarterly, or semiannually. ...
Right to insurable interest in property such as the right of a secured creditor in the property pledged as security. ...
Duration of a policy. Property and casualty coverages are usually written for one year, although a personal automobile policy can be for six months. Life insurance can be written on a term ...
Have a question or comment?
We're here to help.