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
Insurance coverage for pitfalls associated with travel. The coverage can be classified as follows: Trip Cancellation the travelers) must cancel the trip because of unforeseen circumstances ...
Same as term Accounts Receivable Insurance: coverage when business records are destroyed by an insured peril and the business cannot collect money owed. The policy covers these ...
Maritime acts resulting in a liability circumstance falling under common law and statutory law. ...
Federal legislation giving an insurance applicant the right to contact a reporting organization doing a credit check and be advised of information contained in the applicant's file showing ...
Model state law of the NAIC setting general standards for group life insurance contracts. It specifies which types of organizations can sponsor group life insurance plans and outlines the ...
Individual risk offered by an insurer for acceptance or rejection by a reinsurer. Both parties are free to act in their own best interests regardless of any prior contractual arrangements. ...
Independent agent membership group, originally mutual agents but today open to both mutual and stock agents. Association views are presented both nationally and locally on insurance ...
Term in pensions; leaving a job before normal retirement age, subject to minimum requirements of age and years of service. There usually is a reduction in the monthly retirement benefit. ...
1969 federal legislation requiring states to treat national banks, including those whose principal offices are out of state, the same way for tax purposes as they treat their own ...
Have a question or comment?
We're here to help.