Occupational Hazard
Definition of "Occupational hazard"
Condition surrounding a work environment that increases the probability of death, disability, or illness to a worker. This class of hazard is considered when writing workers COMPENSATION INSURANCE or determining which underwriting classification to place an applicant for life or health insurance.
Popular Insurance Terms
Choice among the following options made by retiree prior to retirement concerning the distribution of benefits: option since all income payments cease upon the death of the retiree. Monthly ...
Integral part of managed care health plans designed to control and limit medical expenses. This review includes: requirement of certification for admission to a health care facility; ...
Choice or choices the annuitant has in deciding how income is to be received from an annuity. ...
Payment of insurance proceeds for a claim resulting from a loss to insured mortgaged property. ...
Termination of a policy. Contract may be terminated by an insured or insurer as stated in the policy. If the insurance company cancels a policy, any unearned premiums must be returned. If ...
Designation earned by passing 10 national examinations on subjects including mathematics of property and casualty insurance, actuarial science, insurance, accounting, and finance. ...
Stipulation of the exact time when the pension benefit guaranty corporation assumes the legal liabilities for an insured pension plan that is being terminated. ...
Method of determining whether or not coverage is available for a specific claim. If a claim arises out of an event during the period when a policy is in force, the insurance company is ...
Funding of an employee's benefits in a pension plan for his or her beginning past service of employment. This is a significant cost factor in pension planning and financing of future ...
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