The Maryland Insurance Administration has shared video content called "Word of the Day" to help explain insurance terms. Please click on a word below to watch the video or visit our YouTube playlist for a complete library of video content. For a complete glossary of insurance terms and definitions that are commonly used in the insurance business, visit the National Association of Insurance Commissioners (NAIC), click here.  ​

Word of the Day List:

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A

Actual Cash Value (ACV)
Accident Only Insurance​

Additional Insured

Administrative Costs (in health insurance)  

​ALE - Additional Living Expense​

B

Bodily Injury Liability Coverage​
Bonded and Insured​​

C

Concurrent Causation 

D

E

F

First-Party Insurance​

G

H

​Health Plan Formulary​​​

I

Increased Cost of Compliance

Insurance to Value 

L

M

Medicare Part A 

Medicare Part B 

N

O

P

Q

R​

S

T

U

Usual, Customary and Reasonable (UCR)​​

V

Viatical Settlement​

W