Americans With Disabilities Act (ada)
Definition of "Americans with disabilities act (ada)"
Act that prevents employers from rejecting disabled job applicants on the grounds that hiring such an applicant would result in higher employee health care cost. Additionally, if the job applicant has a disabled spouse, child, or other dependent, regardless of whether or not the job applicant is also disabled, the employer cannot reject the job applicant on those grounds. Thus, the employer cannot exclude disabled employees and their dependents from its health plan on the ground that providing such coverage would increase the cost of health care. Title I of the act became effective for all employers with 25 or more employees on July 26,1992.
Popular Insurance Terms
Size of the losses used as a factor in calculating premium rates. For example, the U.S. Bureau of Labor Statistics studies the number of days lost by injured employees per million ...
Coverage that is renewable at the option of the insured, who is not required to take a medical examination. Regardless of physical condition, the insured must be allowed to renew the policy ...
Branch of knowledge dealing with the mathematics of insurance, including probabilities. It is used in ensuring that risks are carefully evaluated, that adequate premiums are charged for ...
Mathematical premise stating that the greater the number of exposures, (1) the more accurate the prediction; (2) the less the deviation of the actual losses from the expected losses (X - x ...
Quality of investments of insurance companies. State insurance regulators establish rules for company investments. Authorized investments vary, depending on whether a company is a life ...
Contractual obligation that requires one party to the contract to fulfill its obligation before another party to the contract is required to fulfill its contractual obligation. For example, ...
Contracts of reinsurance in which expected income from investments is a major component of the UNDERWRITING process. Also, the ultimate liability of the reinsurer is limited. The reinsurer ...
Person by whose life the duration of an insurance policy, estate trust, or gift is measured. This person is generally referred as the insured in an insurance policy. ...
Premium paid by an insured business to an insurance company from which the company subtracts charges for the cost of putting a policy on its books, premium taxes, and profit. The remainder ...
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