London Insurance And Reinsurance Market Association (LIRMA)

Independent, nonprofit, membership medical-surgical plan. Benefits cover expenses associated with medical and surgical procedures. The physician and/or surgeon bills the Blue Shield plan ...

Approach that reflects losses expected. It is a calculation of the pure cost of property or liability insurance protection without loadings for the insurance company's expenses, premium ...

Phrase in most liability insurance policies that eliminates from coverage damage or destruction to property under the care, custody, and control of an insured. Such coverage is excluded ...

Excess funds above the amount required to establish legal reserves for the policies in force. These excess funds are generated as the result of mortality savings, excess interest earned on ...

Same as term Occurrence Basis: coverage, in liability insurance, for harm suffered by others because of events occurring while a policy is in force, regardless of when a claim is actually ...

Situation involving a chance of a loss or no loss, but no chance of gain. For example, either one's home burns or it does not; this risk is insurable. ...

Individual receiving medical treatment who is not required to be hospitalized overnight. ...

Expense of recovering property by a salvor. Salvage charges are not provided for in insurance contracts. If the owner and the salvor cannot agree on salvage charges, a court makes a ...

Model law endorsed by the national association of insurance commissioners (naic) giving state regulators broad new powers to deal with financially troubled insurance companies. The act was ...