A priori begins with objective thought, eases into reasoning and finally falls to conjecture. A priori is essentially an exercise in mathematical calculation based on known data (and all the factors must be known). It does not depend on trials and tests or even history to develop a probability. Index A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z AĪ posteriori data - Also known as 'empirical' data, A Posteriori data makes predictions about future events based on the past.Ī priori data - Data depends on deductive reasoning to make predictions about the future. Also see the Health And Life Insurance Glossary, Small Business Insurance Glossary and Terminologies Used In Insurance And Their Meanings.įollowing is the property and casualty insurance glossary of basic insurance terms and definitions that are commonly used in the insurance industry:

We've curated a list of P&C insurance terms and definitions - to help you better understand the often confusing legal language of insurance. Property And Casualty Insurance GlossaryĮvery industry has its own jargon, and the property and casualty insurance business is no exception.

Learn insurance industry vocabulary that will help you better understand your insurance policies. Use this informative property and casualty insurance glossary to better understand basic insurance terms and definitions.

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