IMPORTANT INSURANCE ABBREVIATIONS (PART – II)

IMPORTANT INSURANCE ABBREVIATIONS (PART – II)

MCO – Managed Care Organization

M&D – Minimum and Deposit

MDO – Monthly Debit Ordinary Life Insurance

MDRT – Million Dollar Round Table

MET – Multiple Employer Trust

MFL – Maximum Foreseeable Loss

MLE – Maximum Loss Expectancy

MLEA – Multiple Line Exclusive Agent

MPCI – Multi-Peril Crop Insurance

MPL – Maximum Possible Loss

MPP – Managed premium plan

MVR – Motor Vehicle Record

NAUA – National Auto Underwriters Association

NDI – National Disaster Insurance Association

NFIP – National Flood Insurance Program

NFIRA – National Flood Reform Act

NFPA – National Fire Protection Association

NIOSH – National Institute for Occupational Safety and Health

NRRA – National Risk Retention Association

NRT – National Response Team

NSC – National Safety Council

OCA – Outstanding Claims Account

OCIP – Owner Controlled Insurance Program

OD – Occupational Disease

OL&T – Owners, Landlords, and Tenants (Insurance)

ORFS – Operational Risk Financing Securities

ORM – Operational Risk Management

OSHA – Occupational Safety and Health Act; Occupational Safety and Health Administration

OSLR – Outstanding Loss Reserves

OTC – Other Than Collision

PAP – Personal Auto Policy

P&C – Property and Casualty

PC – Professional Corporation

P&I – Protection and Indemnity (Insurance)

PI – Personal Injury

PIA – Primary Insurance Account

PIAA – Physician Insurers Association of America

PICA – Professional Insurance Communicators of America

PIP – Personal Injury Protection

PMA – Package Modification Adjustment

PMF – Package Modification Factor

PMI – Private Mortgage Insurance

PML – Probable Maximum Loss

RAA – Reinsurance Association of America

RAM – Reverse-Annuity Mortgage

RAROC – Risk-Adjusted Return On Capital

RARORAC – Risk-Adjusted Return On Risk-Adjusted Capital

RBC – Risk-Based Capital

RBNE – Reserved But Not Enough

RC – Replacement Cost

RTW – Return To Work

SAA – Surety Association of America

SCOPE – Supervision, Construction, Occupancy, Protection, Exposure

SCPCU – Society of Chartered Property & Casualty Underwriters

SEC – Securities and Exchange Commission

SEMCI – Single Entry Multiple Carrier Interface

S&P – Standard and Poor’s

SPAP – Special Personal Auto Policy

STD – Short-Term Disability

 

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TDB – Temporary Disability Benefits

TDI – Trade Disruption Insurance

TEFRA – Tax Equity and Financial Responsibility Acts of 1982 & 1983

TERI – Targeted Enterprise Risk Insurance

TIAA – Teachers Insurance and Annuity Association

TOLI – Trust-Owned Life Insurance

TOR – Technique Of Operations Review

TPA – Third-party administrator

TRA – Tax Reform Act of 1984

TRIA – Terrorism Risk Insurance Act

TTD – Temporary Total Disability

UEP – Unearned Premium

UJF – Unsatisfied Judgment Fund

UIM – Underinsured Motorist

UIMV – Underinsured Motor Vehicle

UL – Umbrella Liability; Underwriters’ Laboratories

ULAE – Unallocated Loss Adjustment Expenses

ULC – Underwriters Laboratories of Canada

UM – Uninsured Motorist

UMPD – Uninsured Motorist Property Damage

UMV – Uninsured Motor Vehicle

UNL – Ultimate Net Loss

U&O – Use and Occupancy

WC – Workers Compensation

WCRI – Workers Compensation Research Institute

YRCT – Yearly Renewable Convertible Term

YRT – Yearly Renewable Term

For Insurance Abbreviation Part I  Click Here