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

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