There is much to be said for the weird and wonderful terms used by insurance folks - above all, what do they mean?
This week the CII aimed to solve the mystery surrounding words such as 'zillmerisation' by producing an industry insider dictionary.
So for those Backchat readers waiting anxiously to finally discover zillmerisation's meaning, read on:
"A process whereby an adjustment is made in the actuarial valuation of long-term business to take credit for the future recovery of the costs of acquiring new business."
So now you know. Your next challenge is to try incorporating that word into a reasonable sentence in your working life today.
