State Government Insurance

Definition of "State government insurance"

Janay Nutt real estate agent

Written by

Janay Nuttelite badge icon

Coldwell Banker Harris McHaney & Faucette

Health insurance coverage offered by some states for medical expenses and loss of income from nonoccupational disability. The merits of federal health insurance have been debated for some time. In the meantime, several states have passed plans that may be used as a testing ground for a more comprehensive plan. For example, Rhode Island pays for out-of-pocket expenses that total more than $5000 or a certain percentage of income. Other states have passed similar laws, including Georgia, Maine, Minnesota, and Connecticut.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Element used to adjust losses to reflect the incurred but not reported claim (IBNR) under the retrospective method of rating. ...

Unsecured bond. The only protection for the lender is the credit and reputation of the borrower. The method of evaluating the quality of debentures is to analyze the earning power, overall ...

Unallocated funding instrument for pension plans under which premiums are placed on deposit, and are not currently allocated to the purchase of benefits for the employee. At retirement, an ...

Activities of interest in underwriting an application for life insurance to determine the rate classification (premium) for the applicant. For example, a sky diver is at greater personal ...

Term used for a general class of insurance such as life insurance, property insurance, or workers compensation insurance. ...

Use of new rate structures by an insurance company without first obtaining approval of a State Insurance Department. ...

Paid-in surplus, revaluation surplus, and donated surplus. This surplus includes all sources of surplus with the exception of earned surplus. ...

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 ...

Law in some states that permits an insurance company to deny payment of a claim resulting from an insured loss because of breach of warranty or misrepresentation, provided that the breach ...

Popular Insurance Questions