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: A formal document that changes or adds provisions to the original insurance policy. Industry Specific Terminology Key terms used in underwriting and claims processing:
: A measure of profitability for an insurer, calculated by dividing the sum of incurred losses and expenses by earned premiums. Dictionary of Insurance Terms
Foundational concepts that govern the legal and ethical framework of insurance contracts: : A formal document that changes or adds
: A fundamental principle requiring both the insurer and the insured to act with total honesty and disclose all material facts. Dictionary of Insurance Terms