Americans With Disabilities Act (ada)
Act that prevents employers from rejecting disabled job applicants on the grounds that hiring such an applicant would result in higher employee health care cost. Additionally, if the job applicant has a disabled spouse, child, or other dependent, regardless of whether or not the job applicant is also disabled, the employer cannot reject the job applicant on those grounds. Thus, the employer cannot exclude disabled employees and their dependents from its health plan on the ground that providing such coverage would increase the cost of health care. Title I of the act became effective for all employers with 25 or more employees on July 26,1992.
Popular Insurance Terms
Agreement under which an insurance company promises to pay all compensation and all benefits required of an insured employer under the workers compensation act of the state or states listed ...
Retirement vehicle permitted under section 403 (b) plan of the U.S. Internal Revenue Code for employees of a public school system or a qualified charitable organization. Under such an ...
clause found in health insurance contracts that requires the insured to pay a specified percentage of the covered health care expenses. ...
Process of the continual reinsurance of a ceding company's portfolio of insurance policies. All premiums that have been ceded become earned premiums. ...
Covers losses resulting from the malfunction of boilers and machinery. Most property insurance policies exclude these losses, which is why a separate boiler and machinery policy or a ...
Total limit of coverage under all policies applicable to the covered loss for which an insured can be indemnified. For example, if two health insurance policies are in force on the same ...
Type of proportional reinsurance under which the ceding company (primary insurer) cedes to a re-insurer its net amount at risk for the amount above its retention limit on a life insurance ...
Representative of a single insurer or fleet of insurers who is obliged to submit business only to that company, or at the very minimum, give that company first refusal rights on a sale. In ...
Buy or sell order for security that expires at the end of the trading date on which it was entered if not executed. ...

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