Glossary

Interstate experience rating is an experience rating plan for risks operating on a multistate (interstate) basis that utilizes the experience developed within more than one state.

Intrafamily immunity is the legal doctrine prohibiting one family member from suing another family member for personal injury (PI).

Intrapolicy stacking is one form of "stacking" or the aggregation of multiple insurance coverages or limits to cover a single loss.

Intrastate commerce is defined by federal motor carrier regulations as any trade, traffic, or transportation in any state that is not described in the term "interstate commerce."

Intrastate experience rating is an experience rating plan that utilizes the experience developed within one state only.

Invasion of privacy is a violation of a person's right to be left alone.

Investment Company Act of 1940 is a law requiring that mutual funds register with the federal government.

Investment income is the income of a company derived from its investments as opposed to its operations.

Investment insurance, also known as asset protection insurance, is a major category of political risk insurance. In contrast to trade insurance, which covers risks to fulfillment of short-term transactions, investment insurance covers longer term and more open-ended exposures to major investments. For that reason, investment insurance is often written for long policy terms, up to as much as 20 years.

Investment risk is the possibility that investment income earned on unearned premium or loss reserves will be lower than expected when calculating rates.