A - GLOSSARY - Adjuster: A person who investigates insurance claims to determine the extent of the insuring company's liability. - Adverse Selection: A situation where insurers are more likely to attract higher-risk individuals. - Agent: A licensed individual or entity that sells and services insurance policies. - Aggregate Limit: The maximum amount an insurer will pay for all covered losses during a policy period. - Annuity: A financial product that provides a series of payments at regular intervals, typically for retirement. - Appraisal: An evaluation of a property's value or a damage assessment. - Arbitration: A method of resolving disputes outside of court, where an arbitrator's decision is usually binding. -A.M. Best Rating: An AM Best Rating is a system used by A.M. Best, using classifications of A++ to D or Not Rated, which indicate the Financial strength rating of insurers. As an individual, figuring out and finding a insurance market's financial strength would be almost impossible. On April 22, 2022, Forbes said "Fortunately, financial rating agencies like AM Best have done the heavy lifting. Since its beginnings in 1899, AM Best has assessed and analyzed the creditworthiness of insurance companies across the globe. Today, it reports on over 16,000 insurers’ ability to pay their claims, debts and other financial obligations." -Abandonment: Simplified, abandonment meants relinquishing property rights, sometimes a term used in marine insurance. Accountinginsights.org explains it further Feb 21, 2025, "Abandonment clauses are most common in marine insurance policies, addressing situations involving damaged or lost vessels and cargo. Insurers may allow policyholders to abandon a ship or goods if recovery costs exceed their value. This applies in cases of shipwrecks, piracy, or severe structural damage rendering a vessel unseaworthy. The clause ensures insurers assume responsibility for the abandoned property while compensating the insured based on policy terms." Learn more here . . . -Absolute Liability: Simplified, Absolute Liability is Liability without fault or negligence. 2024, Legalbriefai.com explains further, "Absolute liability is a legal term that refers to a situation where a person or organization is held responsible for damages or injuries, regardless of whether they acted with care or made a mistake. This means that even if someone did everything right, they can still be held accountable if something goes wrong. Imagine a scenario where a company is responsible for a chemical spill. Even if they followed all safety rules, they can still be liable for the damage caused by that spill. This concept is often applied in cases where public safety is a priority, ensuring that companies take extra precautions to prevent harm." More here . . . - Accelerated Benefits: Simplified, It is a rider than can be purchased from "some" insurers that allows you to access the Life insurance payout before death due to illness. On June 4, 2024, Nerdwallet.com explained it like this: "An accelerated death benefit, or ADB, allows you to access a portion of your life insurance policy’s payout early if you’re sick. This feature is designed to help you cover things like medical bills or the cost of care, but you can typically spend the money however you'd like. Eligibility rules for an accelerated death benefit vary among insurers. Typically, you’ll need to prove you have a terminal illness with a life expectancy of 24 months or less." More on "ADB" or "LBR" here . . .