American Insurance Association - AIA

DEFINITION of 'American Insurance Association - AIA'

A property-casualty trade organization, representing primarily property and casualty insurers. The American Insurance Association (AIA) has roots dating back to the late 1800s in the form of the National Board of Fire Underwriters. Property and casualty insurance includes personal and commercial auto insurance, commercial property and liability coverage for small businesses, workers' compensation, homeowners' insurance, medical malpractice coverage and product liability insurance.

BREAKING DOWN 'American Insurance Association - AIA'

The property and casualty insurance industry is considered a part of the financial sector of the stock market and includes many large insurance companies. The S&P Insurance Index is also used as a benchmark for these equities.

RELATED TERMS
  1. Life Insurance

    A protection against the loss of income that would result if ...
  2. Insurance Bond

    An investment instrument that is offered by life insurance companies. ...
  3. Adjustable Life Insurance

    A type of life insurance that combines features of term and whole ...
  4. Variable Life Insurance Policy

    A form of permanent life insurance, Variable life insurance provides ...
  5. Permanent Life Insurance

    An umbrella term for life insurance plans that do not expire ...
  6. Life Annuity

    An insurance product that features a predetermined periodic payout ...
Related Articles
  1. Insurance

    15 Insurance Policies You Don't Need

    Learn how to save money by saying "no" to unnecessary coverage.
  2. Bonds & Fixed Income

    Passing The Buck: The Hidden Costs Of Annuities

    These may look like good retirement vehicles, but beware of the fees buried in the fine print.
  3. Retirement

    Variable Vs. Variable Universal Life Insurance

    Do you know why you might need one policy versus the other? Read on to find out.
  4. Insurance

    Life Insurance: Putting A Price On Peace Of Mind

    Would your death leave loved ones financially stranded? Find out how to ease your mind and keep them protected.
  5. Wealth Management

    How Linked Benefit Insurance Policies Work

    Linked benefit policies can be a viable alternative to traditional long-term care insurance. Here's how they work.
  6. Insurance

    Should You Buy Critical Illness Insurance?

    This type of insurance adds an extra layer of protection for those with a high-deductible health plan, but the coverage tends to be limited.
  7. Entrepreneurship

    Credit (Receivables) Insurance: Does Your Business Need It?

    This type of insurance will reimburse your business if customers don’t pay their bills. It’s not cheap, but some companies shouldn’t be without it.
  8. Insurance

    Health Care Premiums Rise Faster Than Wages in Recent Years

    Discover why the Affordable Care Act is not fulfilling its intended purpose of lowering health care costs and how Americans are responding.
  9. Insurance

    Pros And Cons Of A Health Savings Account

    A health savings account offers a way to save while paying for healthcare expenses.
  10. Insurance

    Yes, You Can Still Expect Health Insurance at Work

    A recent report from The New York Times says that health plans offered by employers are here to stay, despite the passage of the Affordable Care Act.
RELATED FAQS
  1. How old should you be to get life insurance?

    There's really no pre-determined age when it suddenly becomes necessary to take out a life insurance policy. However, if ... Read Answer >>
  2. Why is accidental life insurance so inexpensive?

    Accidental life insurance is an inexpensive way of obtaining life insurance coverage for yourself or someone else in your ... Read Answer >>
  3. Can I borrow from my annuity to put a down payment on a house?

    Learn how you can borrow money from an annuity for a house down payment, but also understand why fees and penalties make ... Read Answer >>
  4. What is a tax-free 1035 Exchange?

    A Section 1035 Exchange refers to the replacement of an annuity or life insurance policy for a new one without incurring ... Read Answer >>
  5. What is term insurance?

    Term insurance is a type of life insurance policy that provides coverage for a certain period of time, or a specified "term" ... Read Answer >>
  6. How are life insurance proceeds taxed?

    Generally, life insurance death benefits that are paid out to a beneficiary in lump sum are not included as income to the ... Read Answer >>
Hot Definitions
  1. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  2. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
  3. Generally Accepted Accounting Principles - GAAP

    The common set of accounting principles, standards and procedures that companies use to compile their financial statements. ...
  4. DuPont Analysis

    A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are ...
  5. Call Option

    An agreement that gives an investor the right (but not the obligation) to buy a stock, bond, commodity, or other instrument ...
  6. Economies Of Scale

    Economies of scale is the cost advantage that arises with increased output of a product. Economies of scale arise because ...
Trading Center