Personal Injury Protection (pip)
Coverage to pay basic expenses for an insured and his or her family in states with no fault automobile insurance. No-fault laws generally require drivers to carry both liability insurance and personal injury protection (PIP) coverage to pay for basic needs of the insured, such as medical expenses, in the event of an accident.
Popular Insurance Terms
Membership organization representing professional actuaries in all insurance fields in Canada including life and health, casualty, consulting and fraternal actuaries. A member must reside ...
Organization formed to encourage research in insurance and to foster an exchange of ideas and research methodology among the society members. ...
INSURANCE health insurance policy providing coverage for an insured's medical expenses except those that are specifically excluded. This may be the most advantageous medical expense policy ...
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Documents completed by the agent to effect authorization to act on behalf of the company. ...
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In property insurance, amount that an insured does not have to pay when a loss exceeds a predetermined sum; here the insurance company pays more than 100% of the loss, so that the ...
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