Energy-release Theory (of Accident Causation)
Method, developed in 1970 by Dr. William Haddon, Jr., of classifying and preventing damage caused by accidents. The thesis is that accidents are caused by the transfer of energy with such force that bodily injury and property damage result. According to Dr. Haddon, strategies can interrupt or suppress the chain of accident-causing events. These strategies revolve around control and prevention of buildup of energy that is inherently injurious; creation of an environment that is not conducive to injurious buildup of energy; and production of counteractive measures to injurious buildup of energy.
Popular Insurance Terms
worth of each accumulation unit at the end of each valuation period for a variable annuity. This value is similar to that of the net asset value for a mutual fund. ...
In property insurance, a stipulated agreement between the insurance company and the insured that the amount of insurance coverage under the policy is sufficient to be in compliance with the ...
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Record of losses, whether or not insured. This record is used in predicting future losses and in developing premium rates based on expectation of insured losses. ...
Decision in the absence of a plaintiff or defendant at the specified court time. ...
Process of distributing the costs associated with losses and risks over a number of insureds. ...
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