Insurance underwriters are the insurance companies that provide insurance products to insurance brokers. A broker usually has several underwriters so it can compare their prices to offer the client the best policy price available.... Read more


The result of the policyholder’s failure to buy sufficient insurance. An underinsured policyholder may only receive part of the cost of replacing or repairing damaged items covered in the policy.... Read more

Total loss

A term that may be used by insurers to describe the situation whereby the condition of an automobile or property is so extensively damaged that repair would cost more than replacement.... Read more

Policy Schedule

A list of the items that are covered under one policy or a list other defined items. Our policy schedules are sent by e-mail upon purchase of a policy.... Read more


A quote is an estimated set of premiums based on a client’s criterion for insurance coverage. Quotes are converted into policies when the cover and prices are agreed by both client and insurer/broker.... Read more

Premium Tax

A tax on premiums paid by the clients in addition to the cost of their insurance. IPT is typically around 5% of the policy total and is set by the NIC.... Read more