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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