Blended/integrated Insurance Program
Definition of "Blended/integrated insurance program"
Insurance programs that combine finite risk insurance, reinsurance, and traditional insurance as an alternative to self insurance. These programs are long-term in duration. The objective is to incorporate the advantages of a finite risk insurance program with the advantages of transferring the risk through traditional insurance.
Popular Insurance Terms
Loss occurring by accident or chance, not by anyone's intention. Insurance policies provide coverage against losses that occur only on a chance basis, where the insured cannot control the ...
Coverage that is purchased to provide protection for a loss that has already occurred. The severity of the loss, however, is uncertain. ...
Determination of (1) a future property or liability insurance or reinsurance rate or (2) a premium for a specified future period of time. It is based on the loss experience of a specified ...
Probability of one's living to a specific age according to a particular mortality table. Life expectancy is the beginning point in calculating the pure cost of life insurance and annuities ...
Assignment of a unit value to each of various medical procedures for the purpose of cost comparisons. ...
Obligations and responsibilities subject to evaluation, interpretation, and enforcement in a court of law. Casualty insurance provides coverage for an insured against a civil legal ...
Form of suretyship. For example, fidelity bonds reimburse an employer for financial loss resulting from dishonest acts of employees. ...
Same as term Contingent Business Income Coverage Form: coverage for loss in the net earnings of a business if a supplier business, subcontractor, key customer, or manufacturer doing ...
Same as term Burglary Insurance: coverage against loss as the result of a burglary. Found as part of the commercial package policy that has generally replaced the special multiperil ...
Have a question or comment?
We're here to help.