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New Zealand Insurance Glossary

Our Insurance Glossary explains key business insurance terms to help you understand your policy options and existing coverage. With this resource, you can make informed decisions to effectively protect your business.

A - B

C - D

E - G

Endorsement
Excess
Exclusion
Exposure
Extended Reporting Period
Financial Lines
First Party
Force Majeure
Forensic Accounting
Fraud
General Aggregate Limit
Good Faith
Grace Period
Gross Negligence
Guarantee

H - J

Hazard
Health and Safety at Work
Hold Harmless Agreement
Host Liquor Liability
Implied Warranty
Inception Date
Incurred But Not Reported (IBNR)
Indemnification
Indemnify
Independent Contractor
Inland Marine Insurance
Insurable Interest
Insurance Adjuster
Insurance Binder
Insurance Broker
Insurance Carrier
Insurance Fraud
Insurance Pool
Insured
Insurer
Intermediary
Joint and Several Liability
Judgement
Jurisprudence

L - M

Lapse
Latent Defect
Legal Liability
Liability
Liability Insurance
Liability Limits
License
Lien
Limit of Indemnity
Line of Business
Liquidated Damages
Litigation
Loss Adjustment Expenses
Loss Assessor
Loss Aversion
Loss Control
Loss of Use
Loss Payee
Loss Ratio
Malpractice Insurance
Marine Insurance
Market Value
Material Damage
Material Fact
Mediation
Misrepresentation
Moral Hazard

N - P

Named Insured
Named Perils
Negligence
Net Premium
No-Fault Insurance
Non-Admitted Insurer
Non-Disclosure
Notice of Loss
Occurrence Policy
Operating Ratio
Out-of-Pocket Limit
Package Policy
Peril
Personal Injury Protection (PIP)
Policy
Policy Excess
Policy Holder
Policy Limit
Policy Period
Policy Territory
Pollution Liability
Pre-Existing Condition
Premium
Premium Financing
Primary Insurance
Product Liability
Product Recall Insurance
Professional Indemnity Insurance
Proof of Loss
Property Insurance
Proportionate Liability
Protection and Indemnity (P&I)
Public Liability
Punitive Damages
Pure Risk

Q - T

Quota Share Treaty
Rate
Reinsurance
Reinsurance Treaty
Renewal
Replacement Cost
Reserve
Residual Value
Retention
Retroactive Date
Risk
Risk Assessment
Risk Management
Risk Retention Group
Salvage
Schedule
Self-Insurance
Settlement
Short-Rate Cancellation
Slip and Fall
Special Damages
Statutory Liability
Subrogation
Surety
Surety Bond
Surveillance
Tail Coverage
Terrorism Insurance
Third Party Insurance
Tort
Total Loss
Trade Credit Insurance

U - Z

Umbrella Policy
Underinsurance
Underwriter
Underwriting
Unearned Premium
Uninsured Loss
Utmost Good Faith
Valuation
Vicarious Liability
Voidable
Waiver
Warranty
Workers Compensation
Writ of Summons
Yearly Renewable Term (YRT)
Zone of Danger