Glossary

A public-private partnership is an arrangement between a governmental entity and a private entity to finance a public project with private funds.

A publicly held corporation is a corporation whose shares of stock are held by and are available for purchase by members of the public.

A public adjuster is a claims adjuster who represents the interests of an insured in a property loss.

The Public Company Accounting Oversight Board (PCAOB) is a private-sector, nonprofit corporation created as part of the Sarbanes-Oxley Act (SOX).

Public domain refers to a work that is available to the public as a whole and not subject to intellectual property (copyright, trademark, or patent) restrictions.

A public easement is an easement that is granted to the public in general or to an entire community.

Public employee dishonesty coverage is insurance for governmental entities (e.g., cities, towns, counties) covering loss resulting from employee dishonesty.

Public Law 15 (McCarran Act) is a congressional act of 1945 exempting insurance from federal antitrust laws to the extent that the individual states regulate the industry.

Public liability insurance is insurance covering an insured's liability to third parties for causing bodily injury (BI) or property damage (PD).

A public officials bond is a guarantee by the surety that the specified public official will faithfully perform his or her official duties, including accounting for all funds entrusted to his or her care.