Drug-free Workplace Act Of 1988
Federal statute relating to drug abuse policies that requires all employers with federal contracts at least equal to $25,000 to certify, as a condition of receiving a federal contract, that the employer will provide and maintain a drug-free workplace. In addition, a recipient of a federal grant (award of financial assistance that includes block grant and entitlement grant programs), as well as an independent contractor, must certify that the employer will provide and maintain a drug-free workplace. This act also requires federal contractors and grantees to publish and distribute a policy statement stating the prohibitions against the unlawful manufacture, distribution, dispensation, possession, or use of controlled substances in the workplace. An ongoing drug-free awareness program must be established warning employees of the dangers of drug abuse.
Popular Insurance Terms
One of four types of risks affecting the life insurance company as identified by the society of actuaries. This risk is associated with losses that the life insurance company may incur as ...
Method used to determine the policyholder's return on premiums paid into a life insurance policy. This method is illustrated in two ways:.Surrender of Policy Approach calculation of the ...
Liquid property that can be converted easily to cash. For example, a policyowner can borrow readily against the cash value of a life insurance policy. ...
Premium that equals the net level premium plus the modification of the net level premium to reflect the cost associated with paying for the first year initial acquisition expenses. The ...
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in property and casualty insurance, termination of a policy because of failure to pay a renewal premium. in life insurance, termination of a policy because of failure to pay a premium and ...
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