Glossary

Cost and freight (C and F) is one of several standard terms of sale for exports and imports.

Cost, insurance, and freight (CIF) is one of several standard terms of sale for exports and imports.

The cost of debt is the after-tax value of the rate of return paid to the creditor.

Cost of risk (COR) is the total cost of managing risks and losses incurred by an organization. Total COR is the sum of all aspects of an organization's operations that relate to risk, including retained (uninsured) losses and related loss adjustment expenses (LAEs), risk control costs, insurance and other risk transfer costs, and administrative costs.

Cost of suit coverage is coverage for defense of suits that fall within a self-insured retention (SIR) or deductible where the basic policy does not provide the defense.

Counseling liability coverage provides protection for claims arising from counseling activities.

A counsel selection provision is sometimes found in professional liability insurance policies and gives the insured the right to select or approve defense counsel if a claim is made against the insured during the policy term.

A counterclaim is a claim for relief filed by the defendant in opposition to the claim of the plaintiff. If the defendant makes a claim against the plaintiff, such claim is called a counterclaim.

A counterparty is an individual or organization willing to assume risk in a capital market transaction such as a catastrophe bond.

Countersignature refers to state insurance laws that require an insurance policy to be signed by not only the insurer issuing the policy but also an agent residing in the state where the risk is located.