Page 15 - Insurance Glossary 100 Terms - Sashi Publications
P. 15
No Claim Bonus (NCB): A discount on the
premium for not making any claims in the
previous year.
Operational Risk: The risk of loss resulting
from inadequate or failed internal processes,
people, or systems.
Overinsured: Having more insurance
coverage than necessary.
Peril: A specific risk or cause of loss covered
by insurance.
