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Accounts Receivable Coverage Form
A coverage form that insures against loss when not able to collect account receivables from customers.

Actual Cash Value (ACV)
The cost to replace an item of property at the time of loss, less an allowance for depreciation.

Additional insured
An individual, company or some other entity that is not considered the insured as definded under the insurance policy of another, but may be added to that policy by endorsement to afford a degree of insurance protection.

Advertising Injury
Coverage under Liability policies which provides coverage against liability for libel, slander, violation of privacy, misappropriation of advertising ideas or infringement of copyright, title or slogan.

Aggregate Limit
A type of policy limit found in liability policies which limits coverage to a specified total amount for all losses occurring within the policy period.

Agreed Value
Written with property insurance policies. It waives the Coinsurance clause and requires the insured to carry insurance equal to at least 80% of a signed statement of values filed with the company.

All Risk Insurance
Insurance protecting the insured from loss arising from any peril other than those perils specifically excluded by name. This contrasts with Named Peril insurance, which names the peril or perils insured against.

Audit
Procedure involving reporting and/or reviewing the policyholder’s records at sometime after the policy takes effect to determine the final premium for the policy.

Automobile Liability Insurance
Insurance to protect against financial loss because of a legal liability act that has automobile related injuries to others or damage to property of others.

Automobile Physical Damage Insurance
Insurance coverage to indemnify insured for damage to, or loss, of an insured automobile resulting from covered perils.

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