Policyholder Bill
A policyholder bill, also known as an insurance bill or premium notice, is a document sent by an insurance company to a policyholder that outlines the amount of premium due for their insurance policy.
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.
Pre-existing Disease
A pre-existing disease or condition is a medical condition that existed before an individual applied for or enrolled in a health insurance plan.
Preferred Provider Organization (PPO) (USA)
A Preferred Provider Organization (PPO) is a type of health insurance plan in the USA that offers more flexibility and choice compared to HMOs.
Premium
A premium is the amount of money an individual or business pays to an insurance company to purchase and maintain insurance coverage.
Pro-rata Cancellation
A pro-rata cancellation occurs when an insurance policy is canceled before its expiration date, and the insurer refunds the unearned premium to the policyholder in a proportionate amount based on the remaining time on the policy.
Producer
An insurance producer is a professional who sells insurance policies to individuals and businesses.
Product and Completed Operations (USA)
“Products and Completed Operations” is a key coverage component within a Commercial General Liability (CGL) insurance policy in the USA.
Property Damage
Property damage refers to physical damage to or destruction of tangible property, such as buildings, vehicles, equipment, or personal belongings.
Protection & Indemnity
Protection and Indemnity (P&I) insurance is a type of marine insurance that provides coverage for a shipowner’s liability for third-party damages and expenses.
Proximate Cause
The primary or most direct cause of a loss, without which the loss would not have occurred.
Public Liability Insurance
Public Liability Insurance is a type of business insurance that protects you against claims made by the public for injury or property damage that occurs as a result of your business operations.
Public Protection Class(USA)
In the United States, the Public Protection Classification (PPC) is a system developed by the Insurance Services Office (ISO) to evaluate the fire protection capabilities of a community or municipality.