The development of sound, modern and open insurance markets is an essential component of financial reform in emerging and transition countries. Insurance plays a fundamental role in national economic and social structures as well as in the promotion of entrepreneurship spirit, which is critical for the successful growth of these countries. Complementing a landmark series of publications related to insurance policy issues, the OECD has produced this unique glossary of insurance policy terms for government insurance officials, and academic and business communities worldwide. The selected topics range from insurance policy regulation/supervision to general trade issues and include technical terms related to issues such as claims, premiums and provisions