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
Coverage for business risks including goods in transit, fire, burglary, and theft. A common example is the COMMERCIAL PACKAGE POLICY (CPP). ...
Specified requirements of minimum age and years of service to be met by an employee before the individual's benefits are vested. For example, under the ten year vesting rule, "n employee ...
Phrase used to describe a method of annuity payout that guarantees a specified number of years, regardless of whether an annuitant remains alive. ...
Coverage in the event that stock sent to others for processing is damaged or destroyed en route or at their premises except those perils specifically excluded. For example, this coverage ...
Extent of the loss caused by accidents. Used in predicting the dollar amount of losses upon which the premiums are based. ...
Latin phrase meaning "without which not," signifying a legal rule in tort and negligence cases. Under this rule, a plaintiff trying to prove that an injury was a direct result of a ...
Bond that provides additional security for a loan. ...
Inquiry conducted by a committee of the legislature of the State of New York in 1905 that looked at abuses of life insurance companies operating in the state. This study led to stricter ...
Provision for known claims due but not paid, known claims not yet due, and provision for incurred but not reported (IBNR) claims. The critical problem facing a casualty insurance company is ...
Have a question or comment?
We're here to help.