AVERAGE ADJUSTER - a specialist appointed by an insurer (sometimes with the involvement of a surveyor expert) who determines the cause, nature, and extent of damage and issues an average certificate (primarily in transportation insurance). They may be involved in preventive measures and the settlement of insurance claims. In some cases, the insurer may assign the average adjuster to handle policyholder claims.

AVIATION INSURANCE - insurance coverage for risks associated with the use of aviation and aerospace technology. Sometimes, space risk insurance is classified separately. Aviation insurance includes coverage for aircraft, helicopters, and other aviation equipment against damage and destruction; liability insurance for passengers and third parties for injuries and property damage; liability insurance for aircraft owners as employers; insurance for airport owners; insurance for loss of profit due to the inability to operate aviation vehicles following an accident, and more.

ADDENDUM - a document that serves as an attachment to an insurance policy. The addendum notes any changes to the insurance terms and conditions.

ADJUSTER - an individual or entity appointed by an insurance company to handle policyholder claims. The adjuster evaluates the facts of the insurance event, prepares an expert opinion for the insurer, and performs the functions of an average adjuster.

ACQUISITION - the process of obtaining new insurance policies. Acquisition activity is considered normal when the number of new insurance policies exceeds the number of policies that have expired.

ASSETS - the funds of an insurer invested in securities, acquired real estate, other tangible assets, and held in bank accounts. The sources of these funds include the statutory fund, insurance reserves, and other liabilities. The size and structure of an insurer's assets determine its solvency.

ACCIDENT REPORT FORM - a document prepared by the administration and professional union committee of a company or institution if their employee has been involved in a work-related accident. In the case of a passenger, the corresponding document is prepared during transport. If the injured party is insured against accidents, the report is sent to the insurance company for claim settlement.

ACTUARY - an officially authorized person and specialist who uses mathematical and statistical methods to calculate insurance premiums. The actuary is responsible for ensuring that the insurance funds are sufficient at the time the insurance company needs to fulfill its obligations under issued policies.

ACTUARIAL CALCULATIONS - a system of mathematical and statistical methods for calculating insurance premiums. Actuarial calculations are based on the application of probability theory, demographic statistics, and long-term financial calculations of the insurer's investment income. Actuarial calculations allow determining the share of each policyholder in creating the insurance FUND.

ACCEPTANCE - the agreement of one party in an insurance relationship (either the insured or the insurer) with the proposals of the other party to conclude an insurance or reinsurance contract on terms that meet those proposals.

AGGRAVATION OF CHRONIC ILLNESS - a period during the course of a chronic illness when there are subjective complaints and objective clinical manifestations of the disease that require medical and other treatments until the onset of a remission period (as determined by a physician).

ASSISTANCE - a range of services provided within an insurance policy, which are offered when needed, through medical, technical, and financial support. Assistance is widely used in foreign countries to ensure the safety of travelers during trips abroad in the event of illness or accidents.

AUTHORIZED REPRESENTATIVE - a natural or legal person who: Uses a motor vehicle based on a power of attorney issued by the owner of the vehicle in accordance with the requirements of applicable legislation or on other grounds provided by law.

ADDITIONAL AGREEMENT - an agreement concluded during the term of an existing contract before its expiration, in connection with changes in the conditions of the concluded contract. An additional agreement is concluded based on a written application from the policyholder, indicating the reason for concluding such an agreement (increase in the insurance amount, change in operating conditions, issuance of power of attorney to another person, emergence and existence of other factors that change the degree of risk, etc.).

ADDITIONAL EQUIPMENT OF VEHICLE - additional equipment of a motor vehicle, including lighting, signaling, cooling, heating, and other equipment, as well as audio, video, and radio devices, which are permanently installed on the vehicle at the time of insurance contract conclusion, complying with all technological requirements beyond the standard equipment of the specific model provided by the manufacturer, having individual numbers or other identification features that can be documented.

APPLICATION FOR INSURANCE - a written document expressing the desire to conclude an insurance contract.

AVERAGE IN MARINE INSURANCE - damage caused to a vessel, cargo, and freight during marine transportation. Such accidents are classified as general average or partial average. General average losses are shared among the vessel, cargo, and freight. In the case of a partial average, the losses are attributed to the party responsible for its occurrence or the affected party.