UIICL AO Exam Special: Important Insurance Abbrevations

Dear Readers,
Today we are presenting you a short note on Important Insurance Abbreviations which is most important for your upcoming UIICL Administrative Officers (Scale-I). The list is given bellow:

Important Insurance Abbreviations


A

  • ARM – Associate in Risk Management
  • ARMP – Associate in Risk Management for Public Entities

B

  • BAP – Business Auto Policy
  • BOP – Business Owners Policy

C

  • CFROI – Cash Flow Return on Investments
  • CIC – Certified Insurance Counselor
  • CISR – Certified Insurance Service Representative
  • CPIW / CPIM – Certified Professional Insurance Woman / Man

D

  • DOD – Date of Death
  • DSU – Delay in Start-Up Insurance

E

  • EAP – Estimated Annual Premium
  • EPD – Expected Policyholder Deficit
  • EPLI – Employment Practices Liability Insurance
  • ETB – Engaged In Trade or Business

F

  • FIRM – Flood Insurance Rate Map
  • FMV – Air Market Value

G

  • GAP – Guaranteed Auto Protection
  • GIO – Guaranteed Insurability Option
  • GL – General Liability
  • GWP – Gross Written Premium

H

  • HII – Health Insurance Institute
  • HIPAA – Health Insurance Portability and Accountability Act
  • HLV – Human Life Value

I

  • IIAC – International Insurance Advisory Council
  • III – Insurance Information Institute
  • IRI – Industrial Risk Insurers
  • IRIS – Insurance Regulatory Information System
  • IRM – Improved Risk Mutuals
  • ITI – Insurance Testing Institute

L

  • LIAMA – Life Insurance Agency Management Association
  • LIRB – Liability Insurance Research Bureau
  • LOC – Letter Of Credit

M

  • M&D – Minimum and Deposit
  • MDO – Monthly Debit Ordinary Life Insurance
  • MPL – Maximum Possible Loss
  • MPP – Managed Premium Plan

N

  • NDI – National Disaster Insurance Association
  • NFIP – National Flood Insurance Program
  • NIOSH – National Institute for Occupational Safety and Health

O

  • OCA – Outstanding Claims Account
  • ORFS – Operational Risk Financing Securities
  • ORM – Operational Risk Management

P

  • PAP – Personal Auto Policy
  • PIA – Primary Insurance Account

R

  • RAM – Reverse-Annuity Mortgage
  • RARORAC – Risk-Adjusted Return On Risk-Adjusted Capital

S

  • SEC – Securities and Exchange Commission
  • SPAP – Special Personal Auto Policy

T

  • TDI – Trade Disruption Insurance
  • TERI – Targeted Enterprise Risk Insurance
  • TOLI – Trust-Owned Life Insurance
  • TPA – Third-Party Administrator

U

  • UL – Umbrella Liability
  • ULIP- Unit Link Insurance Plan
  • UMV – Uninsured Motor Vehicle

W

  • WCRI – Workers Compensation Research Institute

Y

  • YRT – Yearly Renewable Term

Thanks.

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