NOIT Glossary:

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Other Terms:

ALS:  Actual Loss Sustained

BI:  Bodily Injury  Read More

BI Coverage:  Business Interruption Coverage  Read More

BINDER:  A legal agreement issued by either an agent or an insurer to provide temporary evidence of insurance until a policy can be issued.  Read Full Definition

CAPACITY (insurance):  The largest amount of insurance/reinsurance available from a given insurance company/market.  Learn More

D&O:  Directors and Officers

EPLI:  Employment Practices Liability Insurance

EMP:   Electromagnetic Pulse

EPRMA:  Employment Practices Risk Management Association

FIP:  Florida Insurance Program

GL:  General Liability

NOIT:  National Operators Insurance Team

ORMA:  Owners Risk Management Association

PML:  Probable Maximum Loss  Read Full Definition


TIV:  Total Insured Value (which usually includes Building, Contents, and Business Interruption)

TLPG:  Tort Litigation Practice Group