1) An unusual, fortuitous, unexpected or unforeseen event or occurrence.
2) A mishap that is not expected or designed.

A form of insurance compensating an individual for loss as a result of an accident or illness. It may pay certain or all expenses for medical and similar services. The amounts and items covered vary from policy to policy and depend to some extent on what coverage is purchased by the insured.

A direct, violent sudden act of nature that could not have been foreseen, or if foreseen, its effect could not have been prevented, e.g., flood, earthquake.

1) A person who is employed to act on behalf of another.
2) An insurance agent is one who contracts with one or more insurance companies to sell their insurance policies to the public and is paid a commission on or receives compensation for such business. See also Broker.

A name given to an insurance policy which covers against the loss caused by all perils except those which are specifically excluded by the terms of the policy. Frequently, a policy of insurance is written to insure damage to property caused by specific "named perils," which are listed on the policy. However, policies may be issued in certain cases to insure against "all risks of loss or damage" and are then called "all risks" policies. The term excludes insurance against certain hazards.

The limit of payment for which an insurer is liable under a policy.

A valuation or an estimation of the value of property usually done by an expert in that field who has no personal interest in the property.

Reference of a dispute to one or more impartial persons chosen by the parties to the dispute to determine their rights and/or obligations. The parties agree in advance to abide by the arbitration.

At common law, the deliberate and intentional burning of property by its owner or by another person.

1) The witnessing of signatures. Where a document is signed a witness who has seen the document signed before him may "attest" that the signatures on the document are genuine.
2) Audited financial statements are said to be "Attested," i.e. the auditor attests the corporation's representations.

1) An examination of evidential matters to determine the reliability of a record or assertion.
2) In connection with financial statements a review of the accounting records and other supporting evidence of an individual or an organization to assess the reasonableness of the statements as presented (not a guarantee of accuracy).

After a claim has been paid or the property restored, most policies automatically return the stated limit of insurance to its original amount.