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Glossary of Insurance Terms

There are 154 entries in this glossary.
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Term Definition
Named Perils

Perils specifically covered on insured property.

National Association of Insurance Commis

Association of state insurance commissioners whose purpose is to promote uniformity of insurance regulation, monitor insurance solvency and develop model laws for passage by state legislatures.

Noncancellable

Contract terms, including costs that can never be changed.

Nonstandard Auto (High Risk Auto or Subs

Insurance for motorists who have poor driving records or have been canceled or refused insurance. The premium is much higher than standard auto due to the additional risks.

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