Insurance Acronym Decoder
Insurance emails and renewal packs are full of abbreviations. This page decodes the acronyms most often seen in London Market, delegated authority, commercial property, casualty, and renewal workflows.
SOV
Schedule of values: a property list showing insured locations, values, occupancy, construction, and other exposure data.
TIV
Total insured value: the sum of insured property values, often used in property underwriting.
BDX
Bordereaux: a structured premium, risk, or claims file used in delegated authority and market reporting.
UMR
Unique market reference: a London Market reference used to identify a placement.
EPI
Estimated premium income: expected premium volume for a binder, treaty, program, or portfolio.
GWP
Gross written premium: premium written before deductions such as reinsurance or commissions.
NWP
Net written premium: premium after specified deductions, often reinsurance-related.
SIR
Self-insured retention: the amount the insured retains before insurance responds.
AAL
Average annual loss: expected annual loss over time, often used in catastrophe or exposure analysis.
PML
Probable maximum loss: an estimate of a large potential loss under defined assumptions.
Related tools
Use the Bordereaux Validator, SOV Cleaner, and Submission Readiness Score when the acronyms turn into actual spreadsheet work.