Suburban Insurance
Insurance Agency and Brokerage
Serving Pennsylvania & New Jersey

Insurance Glossary

Insurance Glossary

This glossary provides a comprehensive list of the most commonly used terms in property/casualty insurance.
Some life and health insurance terms are included. This is not an all-conclusive glossary of terms.

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Key Person Insurance:
Insurance on the life or health of a key individual whose services are essential to the continuing success of a business and whose death or disability could cause the firm a substantial financial loss.

Kidnap and Ransom Insurance:
Written for financial institutions and other corporations, this insurance covers named employees for individual or aggregate amounts paid as ransom, with deductibles requiring the insured to participate in approximately 10% of any loss.