Employee Benefit Liability - liability protection for an employer for claims arising from provisions in an employee benefit insurance plan provided for the economic and social welfare of employees. Capital and Surplus - a company's assets minus its liabilities. Stock Insurance Company - business owned by stockholders. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. Services from providers outside the HMO plan are hardly ever covered except for emergencies. Unallocated Loss Adjustment Expense (ULAE) - loss adjustment expenses that cannot be specifically tied to a claim. Authorized Company - an insurer licensed or admitted to do business in a particular state. DON'T WASTE MONEY ON UNQUALIFIED TRAFFIC - It's equally important that you don’t waste all your advertising budget by bidding on irrelevant, costly keywords that don’t have high intent and don’t convert. The contract provides for the initiation of payments at some designated future date. Legal Guardian - The person who takes care of a child and makes healthcare decision for the child. Index Annuity - an interest bearing fixed annuity tied to an equity index, such as the Dow Jones Industrial Average or S & P 500. Farmowners Insurance - farmowners insurance sold for personal, family or household purposes. How to use risk in a sentence. Line of Business - classification of business written by insurers. Actual Cash Value - repayment value for indemnification due to loss or damage of property; in most cases it is replacement cost minus depreciation, Actuarial Report - (PC Insurance)a document or other presentation, prepared as a formal means of conveying to the state regulatory authority and the Board of Directors, or its equivalent, the actuary's professional conclusions and recommendations, of recording and communicating the methods and procedures, of assuring that the parties addressed are aware of the significance of the actuary's opinion or findings and that documents the analysis underlying the opinion. Urgent Care Provider - A provider of services for health problems that need medical help right away but are not emergency medical conditions. I was in need for the same, truly inspirational and heartwarming. Frequently includes fire, allied lines, various other coverages (e.g., difference in conditions) and liability coverage. Foreign jurisdiction - a jurisdiction outside of the United States, Canada or any province or political subdivision of the foregoing. Crop-Hail Insurance - coverage for crop damage due to hail, fire or lightning. Risk - Uncertainty concerning the possibility of loss by a peril for which insurance is pursued. 2. Coverage applicable to the dwelling, appurtenant structures, unscheduled personal property and additional living expense are typical. Financial Guaranty - a surety bond, insurance policy, or an indemnity contract (when issued by an insurer), or similar guaranty types under which loss is payable upon proof of occurrence of financial loss to an insured claimant, obligee or indemnitee as a result of failure to perform a financial obligation or any other permissible product that is defined as or determined to be financial guaranty insurance. Employee Retirement Income Security Act of 1974 (ERISA) - a federal statute governing standards for private pension plans, including vesting requirements, funding mechanisms, and plan design. Warranty - coverage that protects against manufacturer's defects past the normal warranty period and for repair after breakdown to return a product to its originally intended use. (Scots) 38. The United States could reform health care because of the high cost. It has a start and end date. Emergency Medical Condition - A medical problem with sudden and severe symptoms that must be treated quickly. Convertible Term Insurance Policy - an insurance policy that can be converted into permanent insurance without a medical assessment. Guaranty Fund - funding mechanism employed by states to provide funds to cover policyholder obligations of insolvent reporting entities. Fees Payable - fees incurred but not yet paid. 8:00 a.m. - 5:00 p.m. (CST) (Non-business liability exposure protection for individuals.). (Bickelhaupt and Magee ). Personal Auto Policy - coverage designed to insure private passenger automobiles and certain types of trucks owned by an individual or husband and wife. Personal Property - single interest or dual interest credit insurance (where collateral is not a motor vehicle, mobile home, or real estate) that covers perils to goods purchased or used as collateral and that concerns a creditor's interest in the purchased goods or pledged collateral either in whole or in part; or covers perils to goods purchased in connection with an open-end credit transaction. Provider Sponsored Network (PSN) - formal affiliations of providers, sometimes called "integrated delivery systems", organized and operated to provide an integrated network of health care providers with which third parties, such as insurance companies, HMOs, or other Health Plan Companies, may contract for health care services to covered individuals. Deductible - Portion of the insured loss (in dollars) paid by the policy holder. Arbitration - a binding dispute resolution tactic whereby a conciliator with no interest in the outcome intercedes. 90%) of the estimated monthly claims, and the insurer covers the remainder. Par Value - the nominal or face value of a stock or bond. Derived by subtracting related expenses from incurred losses and dividing by written premiums. (Bickelhaupt and Magee). Kansas City, MO 64106-2197, Switchboard Hours: Catastrophe Loss - a large magnitude loss with little ability to forecast. Medical Malpractice - insurance coverage protecting a licensed health care provider or health care facility against legal liability resulting from the death or injury of any person due to the insured's misconduct, negligence, or incompetence, in rendering or failure to render professional services. Aggregate Cost Payments - method of reimbursement of a health plan with a corporate entity that directly provides care, where (1) the health plan is contractually required to pay the total operating costs of the corporate entity, less any income to the entity from other users of services, and (2) there are mutual unlimited guarantees of solvency between the entity and the health plan that put their respective capital and surplus at risk in guaranteeing each other. A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z. Premium - Payments you make to your insurance provider to keep your coverage. Reserve Credit - reduction of reserve amounts for reinsurance ceded. Creditor-Placed Auto - single interest or dual interest credit insurance that is purchased unilaterally by the creditor, who is the named insured, subsequent to the date of the credit transaction, providing coverage against loss to property that would either impair a creditor's interest or adversely affect the value of collateral on automobiles, boats, or other vehicles.
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