Glossary of Insurance Terms | upcover

Small Businesses

Term categories

We’ve simplified insurance terms into clear definitions and organised them by category. Click a category to learn more

Financial

Simple definitions of common financial and loss-related terms.

Legal

Clear explanations of legal obligations in insurance.

Insurance Documents

Key terms for the documents and specialists behind a claim.

Fundraising

Plain definitions for fundraising and event insurance terms.

Employment

Simple definitions of employment and workplace insurance terms.

Policy

Simple definitions of common insurance policy terms.

Risk Management

Clear explanations of risk, resilience, and recovery terms.

E&O

Simple definitions of errors and omissions insurance terms.

D&O

Clear explanations of directors and officers liability terms.

Commercial Insurance

Simple definitions of commercial insurance cover terms.

Cyber

Plain definitions of common cyber threat and incident terms.

Compliance

Simple definitions of data, privacy, and regulatory compliance terms.

Browse all terms

A

Access Control Failure

Aggregate Limit

Account Takeover

Approved Provider / Panel Vendor

Application Outage

B

Business Operations

Business Interruption

Business Email Compromise (BEC)

Business Continuity Plan

C

Cyber Extortion

Credential Stuffing

Cyber Extortion Demand

Cyber War / Acts of War Exclusion

Claims-Made Policy

D

Discovery Period

Digital Forensics

Disaster Recovery

Duty of Disclosure

Data Integrity Loss

Data Retention Period

Direct Financial Loss

Data Retention Failure

E

Electronic Data

Ethical Hacking

External Threat

Email Compromise

Encryption Failure

Eligible Data Breach

Employment Related Benefits

F

First-Party Cover

Fraudulent Non-Disclosure

G

Grant Application

Grievance Procedure

Governance Failure

H

Hybrid Practices

Healthcare Chatbots

Healthcare Providers

Healthcare Informatics

Healthcare Technology Services

I

Insuring Clause

Indemnity Period

Incident Response

Insurance Premium

Incident Response Plan

Infrastructure Failure

J

Job Rotation Policy

K

Keyholder Policy

Knowledge Management Policy

Key Performance Indicator Policy

Known Threat Actor

L

Loss of Profits

Limit of Liability

Legal Defence Costs

M

Malware Propagation

Mean Time to Recovery (MTTR)

Machine Learning (Healthcare)

Multi-Factor Authentication (MFA)

Mobile Health (mHealth) Applications

Mandatory Ransomware Payment Reporting laws

N

Notification Failure

Notification Obligations

Notifiable Data Breaches (NDB) scheme

O

Outsourced Service

Operational Disruption

Occurrence based policy

P

Policy Schedule

Period of Insurance

Personal Information

Personal Injury Liability

Privacy Impact Assessment (PIA)

Q

Quantified Loss

Qualified Incident Response Firm

R

Retroactive Date

Resilience Measures

Reputation Management

Regulatory Investigation

Recovery Time Objective (RTO)

S

Security Breach

Service Provider

Social Engineering

Service Degradation

T

Third-Party Cover

Transaction Fraud

Tools of Trade Cover

Trade Pack Insurance

Telemedicine Services

Telepharmacy Services

Third-Party Liability

Telemedicine Platforms

Third-Party Dependency

U

Unauthorised Access

Unauthorised Modification

Unspecified Tools of Trade

V

Virus Protection Policy

Vulnerability Assessment

Virtual Private Network (VPN)

W

Whitelisting Protocol

Wireless Security Policy

X

Y

Yield Compliance Report

Year-End Compliance Review

Youth Employment Compliance

Z

Zone Compliance Certificate

Zero Tolerance Policy

Zero-Day Vulnerability Protocol

Zero-Day Exploit

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The information contained on this website is general advice only and has been prepared without taking into account your individual needs, objectives and financial situation. It should not be relied upon as advice. All insurance products are subject to the terms, conditions, limits and exclusions contained in the relevant policy wording and Product Disclosure Statement. Before deciding whether a particular insurance product is right for you, please consider your personal circumstances and read the relevant Product Disclosure Statement, Target Market Determination, Policy Wording, and Financial Services Guide.