Personal Articles Floater
A type of insurance policy that provides coverage for valuable personal items, such as jewelry, fine art, or collectibles, beyond the limitations of standard homeowner’s or renter’s insurance.
Insurance Glossary
Glossary/Encyclopedia of insurance terms. In addition to the brief description of insurance terms, we have also provided detailed explanation of each term. By selecting ‘More Details’ in each term, you can view the detailed explanation of the term with examples.
Personal Auto Insurance
Personal auto insurance is a type of insurance policy that provides financial protection to individuals in case of accidents, damages, or losses incurred while operating a personal vehicle.
Personal Injury and Advertising Liability
A type of insurance coverage that protects businesses against claims of defamation, libel, slander, false arrest, malicious prosecution, wrongful eviction, wrongful entry, and copyright infringement.
Personal Injury Protection (USA)
Personal Injury Protection (PIP) is a type of auto insurance coverage that’s mandatory in some U.S. states and optional in others. It’s also known as “no-fault” coverage because it pays for certain expenses regardless of who caused the accident.
Personal Liability
Personal liability insurance is a type of coverage that protects individuals and their families from financial losses if they are found legally responsible for causing bodily injury or property damage to others.
Personal Lines
In the insurance industry, personal lines refer to insurance products that are designed for individuals and families, providing coverage for personal risks, such as those related to their homes, vehicles, health, and personal liability.
Physical Damage (USA -Auto Insurance)
Coverage that helps pay to repair or replace your car if it’s damaged.
Point of Service (POS) (USA)
A Point of Service (POS) plan is a type of managed care health insurance plan in the USA that combines features of Health Maintenance Organizations (HMOs) and Preferred Provider Organizations (PPOs).
Policy Administration System (PAS)
A Policy Administration System (PAS) is a software application used by insurance companies to manage and automate the administration of insurance policies throughout their lifecycle.
Policy Declaration
The policy declaration, also known as the declarations page or dec page, is the first page of an insurance policy that provides a summary of the policy’s coverage, limits, deductibles, and other key information.
Policy Period
The policy period, also known as the policy term, is the duration for which an insurance policy provides coverage.
Policyholder
A policyholder, also known as the insured or the policy owner, is the person or entity that owns an insurance policy and is responsible for paying the premiums to maintain coverage.