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List of some commonly used abbreviations in the Insurance industry:

  1. ACV – Actual Cash Value
  2. ADB – Accidental Death Benefit
  3. AOB – Assignment of Benefits
  4. API – Average Payment Index
  5. AR – Accounts Receivable
  6. BC – Business Continuity
  7. BOP – Business Owner’s Policy
  8. BOR – Binder of Insurance
  9. CGL – Commercial General Liability
  10. CI – Critical Illness
  11. COB – Coordination of Benefits
  12. COLA – Cost of Living Adjustment
  13. CPT – Current Procedural Terminology
  14. CSR – Customer Service Representative
  15. D&O – Directors and Officers
  16. DB – Death Benefit
  17. DED – Deductible
  18. DI – Disability Insurance
  19. DOL – Department of Labor
  20. DOI – Department of Insurance
  21. DOL – Date of Loss
  22. DPOA – Durable Power of Attorney
  23. E&O – Errors and Omissions
  24. EAP – Employee Assistance Program
  25. EOB – Explanation of Benefits
  26. ERISA – Employee Retirement Income Security Act
  27. ESIS – Employer’s Supplementary Insurance Scheme
  28. ETA – Estimated Time of Arrival
  29. FSA – Flexible Spending Account
  30. FTE – Full-Time Equivalent
  31. GAAP – Generally Accepted Accounting Principles
  32. GAP – Guaranteed Asset Protection
  33. GIC – Guaranteed Investment Contract
  34. GL – General Liability
  35. HIPAA – Health Insurance Portability and Accountability Act
  36. HMO – Health Maintenance Organization
  37. HO – Homeowners Insurance
  38. ICD – International Classification of Diseases
  39. IDV – Insured Declared Value
  40. IR – Insured Risk
  41. ISO – Insurance Services Office
  42. IT – Information Technology
  43. JCAHO – Joint Commission on Accreditation of Healthcare Organizations
  44. LAC – Loss Adjustment Expense
  45. LCM – Loss Cost Multiplier
  46. LOP – Loss of Profit
  47. LTC – Long-Term Care
  48. MCO – Managed Care Organization
  49. MGA – Managing General Agent
  50. MIB – Medical Information Bureau
  51. MOU – Memorandum of Understanding
  52. MRI – Magnetic Resonance Imaging
  53. NCB – No Claim Bonus
  54. NDA – Non-Disclosure Agreement
  55. NFP – Not-For-Profit
  56. NPL – Non-Performing Loan
  57. OIC – Office of the Insurance Commissioner
  58. OOP – Out-of-Pocket
  59. PD – Property Damage
  60. PDL – Personal Data Loss
  61. PIP – Personal Injury Protection
  62. PMI – Private Mortgage Insurance
  63. PPO – Preferred Provider Organization
  64. PPACA – Patient Protection and Affordable Care Act
  65. PR – Public Relations
  66. PSO – Provider Sponsored Organization
  67. PT – Physical Therapy
  68. QA – Quality Assurance
  69. RCV – Replacement Cost Value
  70. RFP – Request for Proposal
  71. ROR – Rate on Risk
  72. RTA – Road Traffic Accident
  73. SBC – Summary of Benefits and Coverage
  74. SIR – Self-Insured Retention
  75. SLA – Service Level Agreement
  76. SOB – Statement of Benefits
  77. SPD – Summary Plan Description
  78. STD – Short-Term Disability
  79. TPA – Third-Party Administrator
  80. TPMS – Tire Pressure Monitoring System
  81. UCR – Usual, Customary, and Reasonable
  82. UIM – Underinsured Motorist
  83. UM – Uninsured Motorist
  84. USC – Uniform Single Certificate
  85. UTMA – Uniform Transfers to Minors Act
  86. VUL – Variable Universal Life
  87. WC – Workers’ Compensation
  88. YTD – Year-to-Date
  89. AAA – American Automobile Association
  90. AARP – American Association of Retired Persons
  91. AIA – American Insurance Association
  92. AIG – American International Group
  93. AIS – Agency Insurance Services
  94. ALU – Additional Living Expense
  95. AM – Adjuster’s Memo
  96. AM Best – A.M. Best Company (Insurance Ratings)
  97. ART – Alternative Risk Transfer
  98. BB – Business Bureau
  99. BIS – Bureau of Insurance Statistics
  100. BOLI – Bank-Owned Life Insurance
  101. CAMICO – CAMICO Mutual Insurance Company
  102. CEA – California Earthquake Authority
  103. CIC – Certified Insurance Counselor
  104. CLUE – Comprehensive Loss Underwriting Exchange
  105. CNA – Continental National Assurance
  106. CPCU – Chartered Property Casualty UnderI’m
List of some commonly used abbreviations in the Insurance industry:
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