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A
AAD Annual Aggregate Deductible
ACV Actual Cash Value
ADR Alternative Dispute Resolution
ADV Average Daily Value
AICOW Additional Increased Cost of Working
ALS Actual Loss Sustained
AOA Any one Accident
AOAOO Any one Accident or Occurrence
AOC Any one Claim
AOG Act of God
AOL Any one Loss
AOO Any one Occurrence
AOV Any one Vessel
AP Additional Premium
ATL Actual Total Loss
B
BI Bodily Injury, Business Interruption
BIV Business Interruption Volatility Clause
BSA Broker Services Agreement
C
CBI Contingent Business Interruption
CCC Care, Custody and Control / Care, Custody or
Control
CGL Commercial General Liability, Comprehensive
General Liability
CII Chartered Insurance Institute
COEE Contingent Operator's Extra Expense
COW Control of Well
CP Condition Precedent
CTL Constructive Total Loss
D
DB&C Dwelling, Buildings and Contents Insurance
D&O Directors and Officers Liability Insurance
DIC Difference in Conditions
DIL Difference in Limits
DD Due Diligence
DSU Delay in Start Up Insurance
E
EAEA Each and every Accident
EAEAOO Each and every Accident or Occurrence
EAEL Each and every Loss
EAEO Each and every Occurrence
E&O Errors and Omissions
EE Extra Expense
EIL Environmental Impairment Liability
EL Employers Liability
EML Estimated Maximum Loss
EPLI Employment Practices Liability Insurance
F
FAC RI Facultative Reinsurance
FC Fixed Costs
FCA Financial Conduct Authority
FCDS Fixed Costs and Debt Servicing Charges
FOB Free on board
FON Firm Order Noted
G
GA General Average
GE Gross Earnings
GL General Liability
GP Gross Profits
GUA General Underwriters’ Agreement
H
H&M Hull and Machinery
I
IBC Institute Builders’ Clauses
IBNR Incurred But Not Reported Losses
ICC Institute Cargo Clauses
ICOW Increased Cost of Working
IHC International Hull Clauses
ISO Insurance Services Office
ITC International Time Clauses
IUA International Underwriting Association
J
JCC Joint Cargo Committee
JHC Joint Hull Committee
JLC Joint Liability Committee
JNRC Joint Natural Resources Committee
JOA Joint Operating Agreement
JRC Joint Rig Committee
JSC Joint Specie Committee
JV Joint Venture
JWC Joint War Committee
JXL Joint Excess Loss Committee
K
K&R Kidnap and Ransom
L
LEG London Engineering Group
LMA Lloyd’s Market Association
LPSO Lloyd’s Policy Signing Office
LTA Long Term Agreement
M
M&D Maintenance and Discovery, Minimum and
Deposit Premium
MB Machinery Breakdown Insurance
MEL Maritime Employers’ Liability
MFL Maximum Foreseeable Loss
MGA Managing General Agent
MP Minimum Premium
MPL Maximum Possible Loss
N
NA North America, Not Applicable
NCB No Claims Bonus
NEP Net Earned Premium
NKORL No Known or Reported Losses
NTIA Not Taken Into Account
O
OEE Operator's Extra Expense
P
PA Particular Average, Personal Accident
Insurance
P&C Property and Casualty
PC Profit Commission
PCO Products and Completed Operations
PD Property Damage
PI Personal Injury, Professional Indemnity, Public
Liability Insurance
P&I Protection and Indemnity
PR Political Risks
PRA Preferred Risk Agreement, Prudential
Regulation Authority
PV Political Violence
Q
QS Quota Share
R
RC Replacement Cost
RI Reinsurance
RIB Renewal Incentive Bonus
ROD Removal of Debris
ROW Removal of Wreck, Rest of World
RP Return Premium
RUB Russia, Ukraine and Belarus
S
S&L Sue and Labour
S&P Seepage and Pollution
SIR Self Insured Retention
SPV Special Purpose Vehicle
SRCC Strikes, Riots and Civil Commotions
T
TE Time Element
TL Total Loss
TLO Total Loss Only
TOBA Terms of Business Agreement
TPL Third Party Liability
U
UNL Ultimate Net Loss
V
VRI Very Rough Indication
W
WC Workers' Compensation
WNKORL Warranted No Known or Reported Losses
WP Waiver of Premium, Without Prejudice
X
XS Excess
Y
YOA Year of Account
Y2K Year 2000
Z