R
RA - regional administrator (Environmental Protection Agency (EPA) regional director)
RA - remedial action (the actual construction or implementation phase of a Superfund site cleanup that follows remedial design (preliminary planning development and preparation) )
RAA - Reinsurance Association of America ()
RACM - regulated asbestos-containing material (friable asbestos (asbestos material easily crumbled or reduced to powder) or nonfriable asbestos-containing material (ACM) that can be reduced to powder in the course of demolition or renovation operations)
RACT - reasonably available control technology (pollution control technology that is reasonably available and both technologically and economically feasible)
RAM - random access memory (a type of temporary computer storage, consisting of an integrated circuit, where data and program instructions can be held, accessed, and altered)
RAM - Reverse-Annuity Mortgage (loan under which the owner of a home receives the equity in the form of a series of monthly income payments for life - upon the owner's death, the lender institution (usually a bank) gains title to the home and is free to keep or sell it)
RAROC - risk-adjusted return on capital (a target return on equity (ROE) measure in which the numerator is reduced depending on the risk associated with the instrument or project - in the insurance industry is typically employed to evaluate the relative performance of business segments having different levels of risk)
RARORAC - risk-adjusted return on risk-adjusted capital (a combination of risk-adjusted return on capital (RAROC) and return on risk-adjusted capital (RORAC) in which both the numerator and denominator are adjusted for different risks)
RBC - risk-based capital (in the insurance industry, the equity or portion of business ownership derived from, or related to, the writing of insurance policies (insurance, by its nature, would be considered risk-based) - RBC requirements are calculated to determine the minimum amount of capital required of an insurer to support its operations and write coverage)
RBCS - Risk-Based Capital Statistic (ratio of authorized control level risk-based capital of an insurance company to its total adjusted capital - used by state insurance regulators to determine whether to take administrative corrective action)
RBD - Required Beginning Date (specific rules under the IRS tax code that regulate when distributions from retirement plans must begin)
RBNE - reserved but not enough (in the captive insurance area, the shortfall between loss reserves which have been recorded and those needed to cover total expected losses - the increases in outstanding loss reserve amounts that are known, usually from experience, but which do not meet the formal criteria needed to record them in the books)
RBRVS - Resource Based Relative Value Scale (classification system used to determine how physicians will be compensated for services provided through Medicare benefits)
RC - replacement cost (property insurance term usually defined as the cost to replace the damaged or destroyed property with property or materials of like kind and quality (without any deduction for depreciation or obsolescence))
RCRA - Resource Conservation and Recovery Act of 1976 (federal act regulating the handling of hazardous waste, from its generation to its disposal)
RDF - retro development factor (retrospective factor derived from historical data to reflect actual trends in loss development - a retrospective rating method is a method of adjusting premium rates based on the actual loss experience during the period, with an initial premium charged at the beginning of the period, followed by a premium adjustment at the end of the policy year)
REEL - real estate environmental liability (liability related to real property for environmental conditions and possible cleanup costs associated with pollution or contamination on the property)
REIT - Real Estate Investment Trust (company, usually traded publicly, that manages a portfolio of real estate to earn profits for shareholders)
RETRO - retrospective rate derivation (a rating system used in employer-sponsored health plans whereby the employer becomes responsible for a portion of the group's health care costs - if costs are less than the portion the employer agrees to assume, the insurance company may be required to refund a portion of the premium)
RF - risk financing (achievement of the least-cost coverage of an organization's loss exposures, while ensuring post-loss financial resource availability)
RFIS - Remedial Feasibility Investigation Study ()
RFP - request for proposal (in the insurance area, a document used to secure proposals for insurance or risk management services - in the broader business or governmental context, a document used to secure proposals for various types of projects or services)
RHU - Registered Health Underwriter ()
RICO - Racketeer Influenced and Corrupt Organizations Act of 1970 (federal legislation creating criminal liability for individuals or organizations involved in systematic illegal activities or "a pattern of racketeering activity")
RIF - Reduction in Force
RIMAS - Risk & Insurance Management Association of Singapore
RIMS - Risk and Insurance Management Society (organization of risk and insurance managers from business organizations, public organizations, and service organizations, dedicated to the advancemennt of professional standards in the risk management field - conducts research, sponsors conferences and seminars, and provides educational programs)
RIRS - Regulatory Information Retrieval Service (a database product developed by the National Association of Insurance Commissioners in conjunction with state insurance departments that lists regulatory actions against insurance firms and individuals)
RM - risk management (the practice of identifying and analyzing loss exposures and taking steps to minimize the financial impact of the risks they impose)
RMD - Required Minimum Distribution (requirement that an individual must withdraw a minimum sum annually from retirement savings that have accumulated on a tax-deferred basis)
RMF - rate modification factor (in the area of workers compansation, a modification factor, the factor by which the workers compensation premium is multiplied to reflect an insureds actual loss experience)
RMIA - Risk Management Institution of Australasia Ltd. ()
RMIS - risk management information system (computerized management information system that allows for the manipulation of claims, loss control analysis, and other types of data review to assist in risk management decision-making)
RML - residual market load (a factor insurers apply to workers compensation policies to recover costs assessed them by states for deficits in the residual markets)
RN - registered nurse (a licensed medical professional, with a four-year nursing degree and qualified by the passage of a certification exam - able to provide all levels of nursing care, including the administration of medication)
ROA - return on assets (net income expressed as a percentage of average total assets - a measure of profitability as related to the efficiency of asset utilization)
ROC - Research and Oversight Council on Workers' Compensation ()
ROCIP - rolling owner controlled insurance program (centralized insurance program under which an owner procures insurance on behalf of all (or most) parties performing work on a project or site on a rolling (ongoing) basis for multiple contracts)
ROE - return on equity (net income expressed as a percentage of average total equity - measurement of profitability by expressing how efficiently invested capital or equity is being utilized)
ROEBI - Return on Employee Benefits Investment (amount, in percentage terms, earned on investments of an employee benefits program)
ROI - return on investment (amount, expressed as a percentage, earned on an investment (or a company's total capital))
ROL - rate on line (in the area of reinsurance, the ratio of the reinsurance premium to the reinsurance limit - calculated as the reinsurance premium divided by the reinsurance limit)
RONW - return on net worth (ratio of net income after taxes to total end of the year net worth - indicates the return on stockholder's total equity)
RORAC - return on risk-adjusted capital (a target return on equity (ROE) measure, calculated by adjusting the denominator, depending on the risk associated with the instrument or project)
RP - return premium (the amount due the insured if the actual cost of a policy is less than what the insured has previously paid, e.g., if the policy is cancelled or if the limits are reduced)
RPG - risk purchasing group (a group formed in compliance with the Risk Retention Act of 1986, which authorized a group of insureds engaged in similar businesses or activities to purchase insurance coverage from a commercial insurer)
RPII - related party insurance income (premium income to an offshore insurance company from policies issued to shareholders of the company)
RPLU - Registered Professional Liability Underwriter (professional designation for an individual satisfying certain ethical and experience requirements, along with passage of five national examinations covering all areas of professional liability insurance - the exams are administered by the Professional Liability Underwriting Society (PLUS) )
RPM - remedial project manager (the Environmental Protection Agency (EPA) or state official responsible for overseeing on-site remedial action at a Superfund site)
RPMP - Risk Premium Modification Plan (employer premium change calculation involving a modification to the original premium based on experience)
RQ - reportable quantity (the quantity of a hazardous substance that triggers reporting requirements under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA))
RRA - Risk Retention Act of 1986 (federal legislation amending the Product Liability Risk Retention Act of 1981 to allow for the more efficient creation of Risk Retention Groups (RRGs)(capitalized member-owned insurance companies) and Risk Purchasing Groups (RPGs) (insurance buyer groups) for companies engaged in similar or related businesses or activities)
RRE - Responsible Reporting Entity (the party, within the Medicare/Medicaid system, responsible for funding a claim payment to an individual eligible for Medicare benefits)
RRG - risk retention group (a group self-insurance plan or group captive insurer operating under the auspices of the Risk Retention Act (RRA) of 1986 that can cover all the liability exposures, other than those related to workers compensation, of its owners - RPGs are not subject to individual state laws prohibiting the formation of group captives or making it difficult to form or operate)
RRP - railroad protective liability (insurance coverage protecting a railroad from liability incurred as a result of the work of contractors on or near the railroad right-of-way)
RRSP - Registered Retirement Savings Plan (Canadian retirement plan, under which employees contribute to the plan on a tax deductible basis, while earnings accumulate tax-deferred - similar to the U.S. individual retirement account (IRA))
RSO - regular stock option plan (an executive compensation plan whereby key executives have the right to purchase company stock at a predetermined price)
RSPA - Research and Special Programs Administration (agency established in 1992 that oversaw rules governing the safe transportation and packaging of hazardous materials by all modes of transportation, excluding bulk transportation by water - RSPA was abolished in November 2004 and certain duties and powers were transferred to the Pipeline Hazardous Materials Safety Administration and the Administrator of the Research and Innovative Technology Administration, within the Department of Transportation)
RTC - Resolution Trust Corporation (U.S. government agency created by the 1989 bailout bill to merge or close savings and loan institutions becoming insolvent between 1989 and August 1992 - the RTC was terminated in 1996, with its responsibilities shifted to the Savings Association Insurance Fund (SAIF))
RTW - return-to-work program (a post-injury program that returns injured employees to some type of work as soon as medically possible - can involve temporary or modified duty assignments)