What does Book of Business mean? Read on to discover the definition & meaning of the term Book of Business - to help you better understand the language used in insurance policies.
Book of Business
A book of business, in the context of insurance, is a database or "book" that lists all of the insurance policies the insurance company has written. As a client relations management tool, it helps insurers keep track of all of their policyholders, their subsequent coverage obligations, and make relevant business decisions.
We hope the you have a better understanding of the meaning of Book of Business.