Common Insurance Acronyms: Insurance Terms Explained (2025)

Welcome to our comprehensive handbook, the Common Insurance Acronyms Guidebook, where we are dedicated to unraveling the complex world of insurance acronyms.

If you’ve ever felt overwhelmed by the alphabet soup of terms in insurance policies, especially P&C insurance acronyms, know that you’re not alone. We’re here to guide you through, including discussing topics like OSP with Flexa and deciphering PCN at GEICO.

In this comprehensive resource, we will provide you with a clear understanding of the most frequently used insurance acronyms, ensuring you can confidently navigate the complexities of the insurance landscape. Whether it’s deciphering terms like PPO, HMO, or COBRA, our guidebook covers all the key topics you need to know. Additionally, we’ll include a life insurance abbreviations list and explain the oc insurance meaning.

Empower yourself with comprehensive understanding of insurance terminology, ensuring that puzzling abbreviations don’t obstruct your capacity to make well-informed choices about your coverage. Seize control of your insurance expertise today, especially when it comes to deciphering health insurance card abbreviations and mastering insurance vocabulary words.

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A

ACSR – Accredited Customer Service Representative

ARM – Associate in Risk Management

ARM-P – Associate in Risk Management for Public Entities

ASOP – Actuarial Statement of Practice

B

BAP – business auto policy

BCBSA – Blue Cross and Blue Shield Association

BI – bodily injury

BOP – business owners policy

C

CFROI – cash flow return on investments

CRIS – Construction Risk and Insurance Specialist

CIC – Certified Insurance Counselor

CISR – Certified Insurance Service Representative

CPCU – Chartered Property Casualty Underwriter

CPIW / CPIM – Certified Professional Insurance Woman / Man

CCC – care, custody, or control (exclusion)

COBRA – Consolidated Omnibus Budget Reconciliation Act

D

D&B – Dun & Bradstreet

DEC – declarations page

DED – deductible

DI – disability income

DIC – difference-in-conditions (insurance)

DIL – difference-in-limits (clause)

D&O – directors and officers (liability insurance)

DSU – delay in start-up insurance

DOB – date of birth

DOC – drive other car coverage

DOD – date of death

E

EAP – estimated annual premium

EBIDDA – earnings before interest, dividends, depreciation, and amortization

EH&S – environmental health and safety

EP – earned premium

EPA – Environmental Protection Agency

EPD – expected policyholder deficit

EPL – employment practices liability

EPLI – employment practices liability insurance

ETB – engaged in trade or business

F

FAIR – Fair Access to Insurance Requirements

FALU – Fellow of the Academy of Life Underwriting

FCAS – Fellow of the Casualty Actuarial Society

FAP – family automobile policy (more commonly PAP)

FCPL – farmers comprehensive personal liability

FCRA – Fair Credit Reporting Act

FIRM – flood insurance rate map

FIRREA – Financial Institutions Reform Recovery and Enforcement Act

FMV – air market value

FTCAC – fire, theft, and combined additional coverage

FVD – full value declared

G

GAP – guaranteed auto protection

GCD – guaranteed cost discount

GIO – guaranteed insurability option

GKLL – garagekeepers legal liability (insurance)

GL – general liability

GVW – gross vehicle weight

GWP – gross written premium

H

HIAA – Health Insurance Association of America

HII – Health Insurance Institute

HIPAA – Health Insurance Portability and Accountability Act

HLDI – Highway Loss Data Institute

HLV – human life value

HCQIA – Health Care Quality Improvement Act

HPL – hospital professional liability (insurance)

HPR – highly protected risk (property)

I

IAHU – International Association of Health Underwriters

IFC – insured fixed-price cleanup

IIAA – Independent Insurance Agents of America, Inc.

IIAC – International Insurance Advisory Council

IIHS – Insurance Institute for Highway Safety

III – Insurance Information Institute

IRI – Industrial Risk Insurers

IRIS – Insurance Regulatory Information System

IRM – improved risk mutuals

ITI – Insurance Testing Institute

J

JCAH – Joint Commission on the Accreditation of Hospitals

JCAHO – Joint Commission on Accreditation of Healthcare Organizations

JSA – job safety analysis

JUA – joint underwriting authority; joint underwriting association

JV – joint venture

L

LAE – loss adjustment expense

LIAA – Life Insurance Association of America

LIAMA – Life Insurance Agency Management Association

LIRB – Liability Insurance Research Bureau

LLC – limited liability company

LMU – loss mitigation underwriting

LOC – letter of credit

LTA – lost time accident; long term agreement

LTD – long-term disability

M

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

N

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

O

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

P

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

R

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

S

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

T

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

U

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

W

WC – Workers Compensation

WCRI – Workers Compensation Research Institute

Y

YRCT – yearly renewable convertible term

YRT – yearly renewable term
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