Non-cancelable policies - Such policies stay in effect regardless of whatever that might happen and as long as the premium is paid from time to time
Named Perils - Coverage in a property policy that provides protection against loss from only the perils specifically provided in the policy. Examples of named perils are fire, windstorm, theft, smoke, etc.
Negligence - Failure to use that care that a reasonable and prudent person would have used under the same or similar circumstance.
Net Premium - The portion of the premium rate which is designed to cover benefits of the policy, excluding expenses, contingencies and profit.
Net written premiums - Premiums income retained by insurance companies, directly or through reinsurance, after payments made for reinsurance.