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The LOA jargon buster

Frances Gordon | 21 August 2007 | 20:50

    Hi all

The Life Offices' Assocation (LOA) has published a 'jargon buster' of terms used in insurance as well as medical terms.

The good? The jargon buster is in a wiki format, and the LOA invites suggestions and edits. According to an article in ITInews, a committee will evaluate all feedback given on the site.

This is an important step towards building consistency in the industry - although some of the definitions throw up many issues and I'm sure will generate lots of healthy debate.

The not-so-good? The jargon buster seems more for those involved in the industry than the layperson. For example, the definition for 'waiting period' uses the term 'anti-selection' which would not be understood by the average policyholder.
Also, I felt some of the entries are very long: I would prefer a short definition before the more conceptual explanations and examples.

Frances

                
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