Channeling
Definition of "Channeling"
Hospital insurance program that provides medical professional liability insurance coverage to non employed hospital physicians. The objective of this means of insurance coverage is to increase the number of patients being admitted to the hospital by tying staff physicians to that particular hospital through this insurance plan. This insurance strategy could lead to lower premiums resulting from loss control programs and joint legal liability defense programs. (The hospital and physician jointly defend against a patient's liability claim rather than each party retaining an attorney, which would increase expenses and develop an adversarial relationship between hospital and physician.) This program can be implemented through a joint hospital and physician program insuring both hospital and physician under the same insurance policy or the hospital can purchase a separate insurance policy for the physician.
Popular Insurance Terms
1945 federal legislation in which the Congress declared that the states may continue to regulate the insurance industry. Nevertheless, in recent years Congress has expanded the federal ...
Payment to a state or municipality by an insurance company based on premiums paid by residents. ...
Clause in a liability insurance policy under which an insurance company agrees to defend an insured even if a lawsuit is without foundation. The costs of defending the insured are covered, ...
Individuals who inherit assets as the result of being named in a will. ...
Organization of local life underwriter associations representing life and health insurance agents on practices of selling and servicing life and health insurance products. NALU sponsors ...
Insurance policy designed to provide coverage for the deductible amount and the coinsurance amount required to be paid by the medicare recipient. Some of these policies will also continue ...
Same as term Casualty Actuarial Society: accrediting body for the ACAS (Associate of the Casualty Actuarial Society) designation and the FCAS (Fellow of the Casualty Actuarial Society) ...
Same as term Exclusions: provision in an insurance policy that indicates what is denied coverage. For example, common exclusions are: hazards deemed so catastrophic in nature that they are ...
Exposures where action has been taken to reduce the frequency and severity of loss, such as adding sprinkler systems in public buildings. These actions may result in a significant reduction ...
Have a question or comment?
We're here to help.