| AC (Account Current) | Billing arrangement where producer collects and remits premium |
| ACORD | Association for Cooperative Operations Research and Development - insurance form standards |
| Aggregate Limit | Maximum total amount payable under a policy for all claims in a period |
| AOP | Area of Practice - specific professional services covered |
| Bind Order | Formal request to place coverage in effect |
| BOP | Business Owners Policy |
| Claims-Made | Coverage applies to claims first made during the policy period |
| CEAL | Claim Expenses in Addition to the Limit |
| CEIL | Claim Expenses Inside the Limits |
| CEOL | Claim Expenses Outside the Limits |
| CYBER | Cyber Liability coverage for data breaches and cyber attacks |
| DAF | Disciplinary Actions Factor (Appraiser rating) |
| Dec Page | Declaration Page - summary of coverage |
| Deductible | Amount the insured must pay before coverage applies |
| E&O | Errors and Omissions insurance |
| Effective Date | Date coverage begins |
| EPLI | Employment Practices Liability Insurance |
| ERP | Extended Reporting Period - extends claim reporting beyond policy period |
| Expiration Date | Date coverage ends |
| ILF | Incurred Losses Factor (Appraiser rating) |
| INFORCE | Policy is currently active |
| IRM | Insurance Risk Management - risk assessment questionnaire |
| LOB | Line of Business - specific insurance product |
| MGA | Managing General Agent |
| NAC | Non-Account Current - direct billing arrangement |
| OTI | Order to Issue - policy issuance checklist |
| Per Claim Limit | Maximum amount payable for a single claim |
| Premium | Amount charged for insurance coverage |
| Prior Acts Date | Retroactive date for claims-made coverage |
| Producer | Insurance agent or broker |
| Pro-Rata | Proportional calculation based on time |
| Rating | Process of calculating insurance premium |
| Reinstatement | Restoring cancelled policy to active status |
| Retroactive Date | Earliest date for which claims are covered |
| Short-Rate | Pro-rata with penalty for insured-initiated cancellation |
| Sub-Stage | Specific condition within a workflow stage |
| Surplus Lines | Coverage placed with non-admitted carriers |
| TRIA | Terrorism Risk Insurance Act |
| Underwriter | Person who evaluates and prices insurance risk |