Insurance Terms - D
D ratio - (factor used in workers' compensation experience rating plans to predict expected losses in a particular type of business)
daily report (DR) - (skeleton copies of the policies prepared for the agent and the insurer)
data quality objective (DQO) -
Date of Birth (DOB) -
Date of Death (DOD) -
Date of Loss (DOL) - (date of an accident or event which causes an injury or damage)
Death Benefit Only plan (DBO) - (a plan in which part of an employee's salary is deferred and paid upon the employee's death)
Death on the High Seas Act of 1920 (DOHSA) - (federal legislation providing for compensation for the death of seamen or other individuals, arising from negligence, strict liability, or the unseaworthiness of a vessel and occurring on the High Seas - beyond three nautical miles from shore - anywhere in the world)
decibel (DB) - (a unit used to express differences in power, especially in acoustics or electronics)
deferred acquisition cost (DAC) - (the amount of an insurer's acquisition costs (direct costs, such as commissions paid to a broker, in acquiring an insurance contract) incurred as a premium is written, but earned and expensed over the term of the policy)
declarations page (DEC) - (the front page (or pages) of a policy that specifies the named insured, address, policy period, location of premises, policy limits, and other key information)
deductible (DED) - (a portion of covered loss that is not paid by the insurer)
Defense Research Institute (DRI) - (organization of trial attorneys who specialize in the representation of defendants who become subject to tort actions)
deferred premium payment plan (DPP) - (payment plan or installment plan that does not require an insured to pay the entire annual premium at the beginning of the policy period)
Deficit Reduction Act of 1984 (DEFRA) -
delay in start-up insurance (DSU) - (delayed completion coverage) (time element coverage or coverage related to delays in completion for property under construction - delayed completion coverage covers income loss or specified additional expenses (such as additional interest charges and advertising expenses) that result from a delay in the completion of a construction project when the delay is caused by covered property damage (PD))
Dental Care Assistance Plans (DCAP) -
dental plan organization (DPO) - (a direct provider of dental services, compensated on a prepaid or postpaid basis, to individuals or groups)
Department of Justice (DOJ) - (agency of the federal government which enforces federal laws)
Department of Labor (DOL) - (federal agency dealing with employment issues, labor relations, and problems in the workforce, as well as employee benefits covered under the Emplyee Retirement Income Security Act (ERISA))
Department of Trade and Industry (London) (DTI) -
Department of Transportation (DOT) - (federal agency dealing with transportation issues, highways and road infrastructure, railroads, airlines, formulation of policy, and oversight of federal transportation programs)
deposit administration (DA) - (a group annuity providing for the accumulation of contributions in an undivided fund out of which annuities are purchased for each covered person in the group for retirement purposes)
deposit administration plan (DAP) - (unallocated funding instrument for pension plans under which premiums are placed on deposit, and not currently allocated to the purchase of benefits for the employee - at retirement, an immediate retirement annuity is purchased for the employee)
Design-Build Institute of America (DBIA) -
destruction and removal efficiency (DRE) - (a percentage that represents the number of molecules of a compound removed or destroyed in an incinerator relative to the number of molecules that entered the system)
developer controlled insurance program (DCIP) - (a centralized insurance program under which one party (developer) procures insurance on behalf of all (or most) parties performing work on a project or site)
diagnosis (diagnostic) related group (DRG) - (a method of organizing or classifying inpatient hospital services, used for quality of care and reimbursement matters)
Difference in Conditions (DIC) - (a separate contract that expands or supplements insurance on property written on a named perils basis so as to cover on an open perils (all risk) basis, subject to certain exclusions)
Difference in Conditions Insurance (DIC) - (insurance coverage for a physical structure, machinery, inventory, and merchandise within the structure in the event of earthquakes, flood collapses, and subsidence strikes)
Difference in Conditions Insurance DIC (1) - an all risks property insurance policy that is purchased in addition to a commercial property policy to obtain coverage for perils not insured against in the commercial property policy (usually flood and earthquake))
Difference in Conditions Insurance (2) (DIC) - an endorsement to a contractor's blanket builders risk insurance policy that fills the gaps between a policy provided by the project owner and contractor's policy)
Difference in Conditions Liability Policy (DICLP) - (coverage for the liability exposures of directors and officers of an organization where there is a gap in the protection under the standard directors and officers liability insurance policy)
difference-in-limits (clause) (DIL) - (a provision contained in a master international insurance program that provides excess limits over the limits of local underlying policies)
digital flood insurance rate map (DFIRM) - (a flood insurance map developed by the Federal Emergency Management Agency (FEMA) for use with geographic information systems (GIS) technology)
direct-applied exterior finish system (DEFS) -
direct earned premium (DEP) - (that portion of a policy's premium that applies to the expired portion of the policy (the portion of a policy that has been earned) )
Direct Marketing Association (DMA) -
Direct Marketing Insurance Council (DMIC) -
Directors and Officers Liabiity Insurance (D&O) - (insurance coverage when a director or officer of a company commits a negligent act or omission, or misstatement or misleading statement, and a successful libel suit is brought against the company as a result)
Disability Benefits Law (DBL) - (state law enacted in a number of states requiring an employer to provide disability benefits to covered employees for nonoccupational injuries)
Disability Income (DI) - (life insurance payment issued after the insured has been disabled for at least six months)
Disability Income insurance (DI) - (health insurance that provides periodic payments to replace income lost when the insured is unable to work as a result of sickness or injury)
Disability Income Record System (DIRS) - (service under the auspices of the Medical Information Bureau (MIB) that provides insurance companies with nonmedical information concerning an applicant for disability income insurance - purpose is to warn insurance companies of applicants trying to purchase excessive amounts of insurance)
Disability Insurance Training Council (DITC) -
disclosure dollar loss (DDL) - (the total decline - the dollar value change - in the market capitalization of a defendant company from the trading day immediately preceding the end of the classs period to the trading day immediately following the end of the class period)
discounted cash flow (DCF) - (value of future expected cash receipts and expenditures at a common date - calculated net present value)
Dishonesty, Disappearance, and Destruction Policy (3-D Policy) (DDD) - (type of crime insurance that provides the business with coverages for employee dishonesty, loss (both inside and outside the business's premises), depositor forgery, and counterfeit paper currency and money orders)
distributable net income (DNI) -
distributed data processing (DDP) -
doing business as (d/b/a) - (public or official business name of an organization - John Smith d/b/a John Smith Shoes)
domestic cell captive (DCC) - (domestic sponsored captive (insurance company that has as its primary purpose the financing of the risks of its owners or participants) or rent-a-captive, which maintains underwriting accounts separately for each participant)
double indemnity (DI) - (payment by a life insurance policy of two times the face value when death results from an accident, such as an auto accident, as opposed to a health problem (heart attack))
Dow Jones Industrial Average (DJIA) - (price-weighted average of 30 actively traded blue chip stocks, first published on May 26, 1896)
Drive Other Car Insurance (DOC) - (endorsement to an automobile insurance policy that protects an insured when driving a nonowned car while either driving a nonowned car for business activities or for nonbusiness activities)
Driver's Privacy Protection Act of 1994 (DPPA) - (prohibits a state department of motor vehicles from disclosing an indiviidual's personal information, except as specifically allowed by the DPPA)
driving under the influence (DUI) - (term for operating an automobile while under the influence of alcoholic beverages or drugs so as to be unable to drive safely - alternative term for driving while intoxicated (DWI) depending on the language used in a state statute)
driving while intoxicated (DWI) - (term for operating an automobile while under the influence of alcoholic beverages so as to be unable to drive safely - alternative term for driving under the influence (DUI) depending on language used in a state statute)
Dun and Bradstreet, Inc. (D&B) - (a corporation that furnishes insurance companies with financial reports that assist them in the underwriting of prospective policyholders - more broadly in the business area, provides credit information and ratings on commercial firms for subscribers)
duplicate coverage inquiry (DCI) - (a request to determine whether other coverage exists - used to apply the coordination of benefits provisions where two or more insurance companies are involved)
Dwellings, Buildings & Contents Insurance (DB&C) - (category of insurance coverage of different types available, when residential property does not qualify according to the minimum requirements of a homeowner's policy)
dynamic financial analysis (DFA) - (the name for a class of structural simulation risk model of insurance company operations, focusing on underwriting and financial risks, designed to generate financial pro forma projections)