Covered Expenses
Definition of "Covered expenses"
- in health insurance, reimbursement for an insured's medically related expenses, including room and board, surgery, medicines,anesthetics, ambulance service to and from a hospital, operating room expenses, X-ray, and fluoroscope.
- in business interruption insurance, reimbursement of an insured for loss if a business cannot operate, including payroll expense andtaxes.
- in extra expense insurance, reimbursement of an insured for extra expenditures made to keep a business operating even under emergency conditions.
Popular Insurance Terms
Type of guaranteed investment contract in which the interest rate credited is tied to an external index such as the United States Treasury Bond Index. ...
Instrument that uses noncombustible substances such as carbon dioxide to deprive a fire of oxygen, thereby extinguishing it. ...
Insured losses that have occurred but have not been reported to a primary insurance company. These types of claims have a tremendous effect on a reinsurance treaty, which may be showing a ...
Organization of over 300 property and casualty insurance companies whose mission is to investigate fraudulent claims and bring to justice those making such claims. ...
one in which the amount and frequency of payment may fluctuate. ...
Stated fixed payment for maternity costs regardless of the actual costs. ...
Type of health maintenance organization (HMO) that issues contracts to independent physicians. These physicians are paid a per visit fee for seeing an HMO member or are paid an annual fixed ...
Same as term Floater: coverage for property which moves from location to location either on a scheduled or unscheduled basis. If the floater covers scheduled property, coverage is listed ...
Actions not allowed between a trust and a disqualified person under the employee retirement income security act of 1974 (erisa). The disallowed actions are designed to prevent a conflict of ...
Have a question or comment?
We're here to help.