Definition of "Aso"
Same as term Administrative Services Only: services provided in an employee benefit plan such as a pension plan. An employer provides the clerical staff to operate the plan, in effect acting as custodian. The trustee provides direction for investment of the plan's funds, usually in a self-directed investment account. Trustee plans are gaining in popularity as both the employer and employees seek more control over pension funds investments. In a self-insured property or liability plan the group may have an ASO contract with an insurance company or a third-party administrator to handle claims processing and administration.
Popular Insurance Terms
Low-cost life insurance sold by savings banks in the states of Connecticut, Massachusetts, and New York. SBLI is a popular source of life insurance in these states for two reasons: it is ...
Amount paid to an insurer. Determination of the actual cost (not the price paid) of a life insurance policy has been widely discussed for many years in life insurance and consumer circles. ...
In an insurance policy, sentences and paragraphs describing various coverages, exclusions, duties of the insured, locations covered, and conditions that suspend or terminate coverage. ...
Federal agency that regulates the securities markets. The independent, five-member commission was created under the Securities Exchange Act of 1934 to enforce the securities act of 1933. ...
Written statement by an insurance company attesting to the powers it has vested in an agent. ...
Refusal by an insurance company to underwrite a risk. ...
Coverage that pays a fixed dollar amount of interest at regular intervals. ...
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Provision in an umbrella liability insurance policy under which the policy will pay those losses that come within the retention limits of the primary policy, but the primary policy cannot ...
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