Supplementary Medical Insurance

Part of the federal Medicare program for additional coverage on a voluntary basis. The Medicare program is divided into two parts: (1) Hospital Insurance provides hospital benefits to ...

Same as term Occurrence Basis: coverage, in liability insurance, for harm suffered by others because of events occurring while a policy is in force, regardless of when a claim is actually ...

Traditional HMO made up of physicians who are salaried by the HMO. These physicians treat solely HMO members who are covered only if they use HMO physicians and hospitals. ...

Type of surety bond that guarantees that goods stored in a warehouse will be delivered upon presentation of a receipt. ...

Statutory accounting principles (SAP), as listed in the insurance company's annual financial statements filed with the insurance commissioner of each state in which it is licensed. Income ...

Qualified pension or other employee benefit where responsibility rests with an employer rather than an insurer. A trust fund plan, where assets are deposited with and invested by a trustee, ...

Those states requiring insurers to obtain prior approval rating of rates and policy forms before they use them. Although most states once fell into this category, many followed the lead of ...

Monetary sums attached to an insurance company's assets, as listed on the annual statement. ...

Coverage up to specific limits for payments demanded by kidnappers for the release of an insured held against his or her will. Most ransom insurance policies have a deductible and exclude ...