In statistics, the theorem states that with an appropriately large sample, commonly values >30, that sample’s average can be treated as if it were drawn from a normal distribution.
CEO
Acronym for Chief Executive Officer
Certificate of Coverage
A document that contains contract provisions of the policy.
Certified Insurance Counselor (CIC)
Certified Insurance Counselor (CIC) is an insurance professional designation. The CIC program was started by the National Alliance for Insurance Education & Research in Austin, Texas in 1969 by founder Dr. William T. Hold. Some CIC courses can be used to fulfill state continuing education requirements for licensing as an insurance agent. The CIC program is for agency owners, producers, agents, CSR’s, brokers,…
Cession
Transaction that transfers liability from the ceding company to the re-insurer.
CIO
Acronym for Chief Information Officer
Civil Law
Protects the interests of individuals.
Claim
A demand or obligation for payment as a result of a loss.
Claim Reserve
Estimation of the liability for unpaid claims that have occurred as of a given date, including the IBNR claims, claims due but not yet paid, and amounts not yet due.