Information on QBE's response to COVID-19. Find out more Search GROUP About Investor relations Media Centre Sustainability Careers Contact Glossary of insurance terms Accident year experience The matching of all claims occurring (regardless of when reported or paid) during a given 12 month period with all premium earned over the same period. Acquisition cost The total of net commission and operating expenses incurred in the generation of net earned premium and often expressed as a percentage of net earned premium. Admitted insurance Agent Attritional claims ratio Broker Capacity Cash profit Casualty insurance Catastrophe reinsurance Claim Claims incurred Claims provision Claims ratio Coefficient of variation Combined operating ratio Commercial lines Commission Commission ratio Credit Spread Credit spread duration Deductible Deferred acquisition costs Excess of loss reinsurance Expense ratio Facultative reinsurance General insurance Gross claims incurred Gross earned premium (GEP) Gross written premium (GWP) Incurred but not reported (IBNR) Insurance profit Insurance profit margin Inward reinsurance Large individual risk and catastrophe claims ratio Lead/non-lead underwriter Lenders’ mortgage insurance (LMI) Letters of credit (LoC) Lloyd’s Lloyd's managing agent Long-tail Managing General Agent (MGA) Maximum event retention (MER) Modified duration Multi-peril crop scheme Net claims incurred Net claims ratio Net earned premium (NEP) Net investment income Net written premium (NWP) Outstanding claims liability Personal lines Policyholders’ funds Premium Premium solvency ratio Prescribed capital amount (PCA) Probability of adequacy Proportional reinsurance Prudential capital requirement (PCR) Recoveries Reinsurance Reinsurance to close Reinsurer Retention Retrocession Return on allocated capital (RoAC) Return on equity (ROE) Short-tail Stop loss reinsurance Surplus (or excess) lines insurers Survival ratio Syndicate Total shareholder return (TSR) Treaty reinsurance Underwriting Underwriting expenses Underwriting result Underwriting year Unearned premium Volume weighted average price (VWAP) Written premium Privacy policy Terms of use Responsible Disclosure Sitemap Contact Us - Call us on +612 9375 4444 © Copyright 2021 QBE Insurance Group Limited. All rights reserved