Brent Radcliffe

Brent Radcliffe

Brent Radcliffe is a digital analyst with a software company based in the Washington, DC area. He is a graduate of the University of Florida with a degree in International Economics, with minors in both French and International Relations. Radcliffe is a freelance writer covering topics related to economics, trade and investing.

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  1. Term

    Controlled Insurance Program (CIP)

    An insurance policy which consolidates coverage for contractors and subcontractors into a single policy.
  2. Term

    Chain Ladder Method (CLM)

    A method for calculating the claims reserve requirement in an insurance company’s financial statement.
  3. Term

    Expected Loss Ratio (ELR) Method

    A technique used to determine the projected amount of claims losses relative to earned premiums.
  4. Term

    Frequency-Severity Method

    An actuarial method for determining the expected number of claims that an insurer will receive during a given time period, and how much the average claim will cost.
  5. Term

    Injury-In-Fact Trigger

    A coverage trigger theory that states that policy coverage activates when an injury or damage actually occurs.
  6. Term

    Tortfeasor

    The individual, company, or entity that is found to have committed wrongdoing.
  7. Term

    Facultative Reinsurance

    A type of reinsurance contract that covers a single risk.
  8. Term

    Buyback Deductible

    An insurance contract provision that allows an insured party to pay a higher premium in order to reduce or eliminate the deductible that the insured would have to pay if a claim is made.
  9. Term

    Business Judgment Rule

    A legal principle which grants directors, officers, and agents of a company immunity from lawsuits relating to corporate transactions if it is found that they have acted in good faith.
  10. Term

    Bid Deduct

    A feature of an owner controlled insurance program (OCIP) in which contractors' bids include the cost of providing workers compensation, general liability, and excess liability insurance.
  11. Term

    Benefits Payable Exclusion

    An insurance policy exclusion that removes the insurer’s responsibility for paying out claims if the insured is able to pay them from another source.
  12. Term

    Blanket Additional Insured Endorsement

    An insurance policy endorsement that automatically provides coverage to any party that the named insured is contractually required to provide coverage to.
  13. Term

    Anti-Concurrent Cause (ACC)

    An insurance contract provision that removes coverage if a loss is caused by a combination of covered risks and excluded risks.
  14. Term

    Advanced Diploma In Insurance

    A qualification earned by insurance professionals and conferred by the Chartered Insurance Institute (CII).
  15. Term

    Aggregate Excess Insurance

    An insurance policy that limits the amount that a policyholder has to pay out over a specific time period.
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