ACT OF GOD
An unpreventable accident or event that is the result of natural causes; for example, floods, earthquakes, or lightning.
ANTISELECTION
The tendency of individuals who believe they have a greater than average likelihood of loss to seek insurance protection to a greater extent than do those who believe they have an average or a less than average likelihood of loss.
APPRAISAL
A survey by a claims representative or claims appraiser estimating the amount of damage to property and the cost to repair or the determination of a complete loss.
ASSESSED VALUE
The monetary worth of real or personal property as a basis for its taxation. This value, established by a governmental agency, is rarely used by insurers as a means to determine indemnification.
ASSET RISK
a measure of an asset's default of principal or interest or fluctuation in market value as a result of changes in the market.
AUTHORIZED CONTROL LEVEL RISKED BASED CAPITAL
Insurance company’s theoretical capital amount and surplus that is should maintain.
AVALANCHE
A slippage of built-up snow down an incline possibly mixed with ice, rock, and soil or plant life in what is called a debris avalanche. Avalanches are a major danger in the mountains during the winter as a large one can run for miles, and can create massive destruction of the lowered forest and anything else in its path.