Glossary

Travel insurance provides indemnification for (1) trip cancellation or interruption; (2) theft of, or loss to, property such as jewelry, cameras, baggage, or passports while on the trip; and (3) emergency medical and dental expenses during the trip.

A treaty is an agreement between an insurer and a reinsurer stating the types or classes of businesses that the reinsurer will accept from the insurer.

Treaty reinsurance is a form of reinsurance in which the ceding company agrees to cede certain classes of business to a reinsurer. The reinsurer, in turn, agrees to accept all business qualifying under the reinsurance contract, known as a "treaty." Under a reinsurance treaty, the ceding company is assured that all of its risks falling within the terms of the treaty will be reinsured in accordance with treaty terms. A treaty relationship generally is a long-term relationship governed by a detailed treaty wording.

Trend analysis is a technique used by risk managers for forecasting future events, such as accidental and business losses.

A trend factor is used in the loss forecasting process that accounts for increases over time in the dollar amount of losses sustained by an organization.

A trespasser is one who, without authorization, goes on the private premises of another without an invitation or inducement, expressed or implied, but purely for their own purposes or convenience and where no mutuality of interest exists between them and the owner or occupant.

The trial court is the court that is assigned to preside over the trial and, in some instances, discovery of a particular case.

Triple excess coverage refers to a provision of coverage included within directors and officers (D&O) liability policies covering an insured director's or officer's work in conjunction with an outside firm, usually a nonprofit organization.

A triple option plan is an employer health insurance plan that allows the employee an opportunity to choose between an indemnity, health maintenance organization, or preferred provider organization plan.

Triple trigger theory is one approach in determining the trigger on an occurrence.