Act Of God 
An unpreventable accident or event that is the result of natural causes; for example, floods, earthquakes, or lightning.

Actual Total Loss
This term refers to situations in marine insurance where -
(a)  the subject matter of the insurance is destroyed;
(b)  the subject matter of the insurance is so damaged as to be no longer be capable of still being described as the thing insured; or
(c)  the insured is deprived of the subject matter of the insurance forever.

Adjustment Premium
An additional or return premium that is payable in relation to a deposit premium depending on the insurance contract.

Agents
Insurance is sold by two types of agents: independent agents, who are self-employed, represent several insurance companies and are paid on commission; and exclusive or captive agents, who represent only one insurance company and are either salaried or work on commission.

Agreed Value Policy
An insurance contract under which the insurer agrees to pay the insured a stated amount in the event of the total loss of the property insured without any adjustment for depreciation or appreciation.

All risks
A property insurance which covers any accidental loss or damage that is not specifically excluded under the policy.

Appreciation
In the context of property insurance an increase in value of the property insured.

Arbitration
Procedure in which an insurance company and the insured or a vendor agrees to settle a claim dispute by accepting a decision made by a third party.

Assets
Property owned, including stocks, bonds and real estate.

Assured
Another name for an insured.

Average
If the sum insured under non-marine insurance is expressed to be “subject to average” and that sum is less than the value of the subject matter of the insurance then any claim that is agreed under the policy will be reduced proportionately to reflect the under insurance.  
In Marine Insurance the term Average may also refer to one of two types of loss, General Average and Particular Average.

Aviation Insurance
Commercial airlines hold property insurance on airplanes and liability insurance for negligent acts that result in injury or property damage to passengers or others. Damage is covered on the ground and in the air. The policy limits the geographical area and individual pilots covered.