A
6 terms
- Accidental Damage
- Unexpected and non-deliberate external action that causes damage to the insured property.
- Actual Cash Value (ACV)
- Repayment value for indemnification due to loss or damage of property; in most cases, it is replacement cost minus depreciation.
- Add-on Covers
- Additional covers offered with the standard insurance policy for extra security.
- Advanced Persistent Threats (APTs)
- Cyber threats where an unauthorized user gains access to a system or network and remains there undetected for a long period.
- Authentication
- Verification of an individual, system, or entity's identity.
- Attack Vector
- The path or method by which a hacker gains access to a computer or network to deliver a malicious payload.
B
5 terms
- Beneficiary
- The person or party named by the owner of a life insurance policy to receive the policy benefit.
- Binder
- Temporary authorization of coverage issued prior to the actual insurance policy.
- Botnet
- A group of private computers infected with malicious software and controlled as a group without the owners' knowledge.
- Business Email Compromise (BEC)
- A sophisticated scam that targets businesses that regularly perform wire transfer payments.
- Black Hat
- An individual who hacks with malicious intent, often for personal gain.
C
5 terms
- Claim
- A formal request to an insurance company asking for a payment based on the terms of the insurance policy.
- Comprehensive Insurance
- An auto insurance that covers damage of your car, other vehicles and property, theft, and damages caused by incidents other than car accidents.
- Cyber Liability Insurance
- An insurance product used to protect businesses and individual users from Internet-based risks, typically risks related to information technology infrastructure and activities.
- Cybersecurity
- The protection of computer systems from theft or damage to their hardware, software, or electronic data, as well as from the disruption or misdirection of the services they provide.
- Cyber Extortion
- A crime involving an attack or threat of attack against an enterprise, coupled with a demand for money to stop the attack.
D
5 terms
- Deductible
- The amount of loss that the insured is responsible to pay before benefits from the insurance company are payable.
- Depreciation
- Decrease in the value of property over a period of time due to wear and tear or obsolescence.
- Data Breach
- A confirmed incident in which sensitive, confidential or otherwise protected data has been accessed and/or disclosed in an unauthorized fashion.
- Denial of Service (DoS)
- An attempt to make a machine or network resource unavailable to its intended users.
- Dark Web
- The part of the World Wide Web that is only accessible by means of special software, allowing users and website operators to remain anonymous or untraceable.
E
5 terms
- Endorsement
- Written evidence of an agreed change in a policy.
- Exclusions
- Those items or conditions that are not covered by the general insurance contract.
- Endpoint Security
- A strategy that requires that network access attempts be evaluated for their risk before access is granted.
- Encryption
- The method by which information is converted into secret code that hides the information's true meaning.
- Exposure
- The state of being exposed to possible loss from a threat.
F
5 terms
- Face Amount
- The value of a policy to be provided upon maturity date or death.
- First Party
- The policyholder (the insured) in an insurance contract.
- Firewall
- A network security system that monitors and controls incoming and outgoing network traffic based on predetermined security rules.
- Forensics
- The application of investigative analysis and interpretation to uncovered evidence after a security incident or data breach.
- Fraud
- Wrongful or criminal deception intended to result in financial or personal gain.
G
5 terms
- General Insurance
- Insurance that deals with property, liability, and other types of coverage, but not life insurance.
- Grace Period
- A specified length of time within which a renewal premium that is due may be paid without penalty.
- General Liability Insurance
- Insurance that covers a company for bodily injury, personal injury, and property damage caused by the company's operations, products, or injury that occurs on the company's premises.
- Grey Hat
- A computer hacker who sometimes violates laws or typical ethical standards, but does not have the malicious intent typical of a black hat hacker.
- Governance
- The way rules, norms, and actions are structured, sustained, regulated, and held accountable.
H
4 terms
- Health Insurance
- Type of insurance coverage that pays for medical and surgical expenses incurred by the insured.
- Hacker
- A skilled computer expert that uses their technical knowledge to overcome a problem.
- Hardware
- The physical parts of a computer or computer system.
- HTTP
- Hypertext Transfer Protocol the protocol used for transmitting hypertext over the World Wide Web.
I
5 terms
- Indemnity
- Security or protection against a loss or other financial burden.
- Insurable Interest
- Interest in property such that loss or destruction of the property could cause a financial loss.
- Identity Theft
- The deliberate use of someone else's identity, usually as a method to gain financial advantage or obtain credit and other benefits in the other person's name.
- Incident Response
- An organized approach to addressing and managing the aftermath of a security breach or cyberattack.
- Intrusion Detection System (IDS)
- A system that monitors network traffic for suspicious activity and issues alerts when such activity is discovered.
J
2 terms
- Junk Mail
- Unwanted or unsolicited email.
- JavaScript
- A popular programming language used both on client-side and server-side to make web pages interactive.
K
2 terms
- Keylogger
- A type of surveillance software that has the capability to record every keystroke you make to a log file, usually encrypted.
- Kernel
- The core of a computer's operating system, with complete control over everything in the system.
L
5 terms
- Liability Insurance
- Insurance that offers protection from third-party claims arising from accidents caused by the policyholder.
- Lapse
- Termination of a policy due to failure to pay the required renewal premium.
- Liability
- The company's or individual's legal responsibility for the damages caused by a security incident.
- Loss Control
- Actions taken to reduce the frequency or severity of losses, including education, safety inspections, and risk management.
- Login
- The act of entering into a computer system or network by entering an identifier and password.
M
5 terms
- Maturity
- The date on which the principal amount of a note, draft, acceptance, bond, or other debt instrument becomes due and payable.
- Moral Hazard
- A condition that increases the likelihood of a loss due to an insured's indifferent attitude.
- Malware
- Software that is specifically designed to disrupt, damage, or gain unauthorized access to a computer system.
- Multi-Factor Authentication (MFA)
- A security system that requires more than one method of authentication from independent categories of credentials to verify the user's identity for a login or other transaction.
- Mobile Device Management (MDM)
- The administration of mobile devices, such as smartphones, tablet computers, laptops, and desktop computers.
N
4 terms
- Named Perils
- Perils specified in a policy as being covered.
- Network
- A group of two or more computer systems linked together.
- Network Security
- The practices adopted to prevent and monitor unauthorized access, misuse, modification, or denial of a computer network and network-accessible resources.
- Non-repudiation
- Assurance that someone cannot deny the validity of something.
O
2 terms
- One-Time Password (OTP)
- A password that is valid for only one login session or transaction.
- Outsourcing
- The business practice of contracting with an outside party to take care of certain tasks instead of hiring new employees or assigning those tasks to existing staff.
P
5 terms
- Peril
- The cause of a loss.
- Policy
- The written contract effecting insurance, including all clauses, riders, endorsements, and papers attached thereto.
- Phishing
- A cybercrime in which a target or targets are contacted by email, telephone or text message by someone posing as a legitimate institution to lure individuals into providing sensitive data.
- Patch
- A set of changes to a computer program or its supporting data designed to update, fix, or improve it.
- Password
- A string of characters used for user authentication to prove identity or access approval to gain access to a resource.
Q
2 terms
- Quarantine
- Isolating a computer or network to prevent the spread of malicious code or unauthorized access.
- Quality of Service (QoS)
- The description or measurement of the overall performance of a service.
R
5 terms
- Rate
- The pricing factor upon which the insurance buyer's premium is based.
- Renewal
- The automatic re-establishment of in-force status effected by the payment of another premium.
- Ransomware
- A type of malicious software designed to block access to a computer system until a sum of money is paid.
- Risk Assessment
- The process of identifying, analyzing, and evaluating risk.
- Rootkit
- A collection of computer software, typically malicious, designed to enable access to a computer or an area of its software that is not otherwise allowed.
S
3 terms
- Subrogation
- The right for an insurer to pursue a third party that caused an insurance loss to the insured.
- Surrender Charge
- Charge for withdrawals from an annuity contract before a designated surrender charge period.
- Social Engineering
- The use of deception to manipulate individuals into revealing confidential or personal information that may be used for fraudulent purposes.
T
3 terms
- Term Insurance
- Life insurance payable to the beneficiary only when death of the insured occurs within a specified time.
- Third Party
- A person other than the insured or insurer who has incurred losses or is entitled to receive payment due to acts or omissions of the insured.
- Trojan
- A type of malicious software that misrepresents itself to appear useful, routine, or interesting in order to persuade a victim to install it.
U
3 terms
- Underwriter
- The person trained in evaluating risks and determining the rates and coverages that will be used for them.
- Umbrella Policy
- Coverage for losses above the limit of an underlying policy or policies such as homeowners and auto insurance.
- Unauthorized Access
- Gaining access to a computer system, network, file, or other resource without permission.
V
3 terms
- Valuation
- The process of determining the value or amount of a policy, a property, or an amount claimed.
- Void
- Of no legal effect from the beginning.
- Virus
- A type of malicious software that, when executed, replicates by reproducing itself or infecting other programs by modifying them.
W
3 terms
- Waiver
- The voluntary abandonment of a legal right or advantage.
- Whole Life Insurance
- Life insurance that provides coverage for the entire life of the insured, with a savings element.
- White Hat
- An ethical computer hacker who specializes in penetration testing and other testing methodologies to ensure the security of a system.
X
1 term
- X-Dates
- The dates on which an insurance policy expires.
Y
2 terms
- Yearly Renewable Term (YRT)
- A type of term insurance that provides coverage for one year and allows the policy to be renewed and premiums to be paid on a yearly basis.
- Yearly Price of Protection Method
- A method used to approximate the cost of life insurance by taking the net amount at risk and multiplying it by the mortality rate.
Z
3 terms
- Zero Day Threat
- A computer threat that tries to exploit computer application vulnerabilities that are unknown to others or undisclosed by the software developer.
- Zero Depreciation Cover
- A car insurance add-on ensuring full compensation without any deduction for depreciation. Also called nil depreciation or bumper-to-bumper.
- Zone Rating
- A method of rating auto insurance policies by territory where the policy was issued.
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