Unbundled
Term that describes commercial insurance with no administrative services attached, or alternatively, administrative services from an insurer without insurance coverage. Years ago, insureds bought a package that included coverage for exposures as well as claims paying, loss control, and other risk management services. With the increasing sophistication of risk management in the past decade, and to reduce their costs, many corporations elect to perform some of these duties themselves and to purchase insurance and other services on an unbundled basis.
Popular Insurance Terms
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Cost of doing business, not including pure expectation of loss. ...
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Synopsis of the key financial figures concerning the pension plan that is contained in the form 5500 that must be filed annually with the Internal Revenue Service. This report must be given ...
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