The additional premium to which an insurer is entitled or the return premium to which the insured is entitled after an audit and refiguring of the base on which the original or deposit premium was charged.
Insurance Encyclopedia
Auditor
Individual who makes a formal examination and verification of records.
Auditors charges
See: Accountants’ Clause.
Augmentation
Add to or increase a body site (e.g., plastic reconstruction procedure, implant, prosthesis, bone or soft tissue graft).
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UK: Provision of additional benefits for particular members of an occupational pension scheme. The cost normally falls on the employer.
AUR
See: ambulatory utilization review (AUR).
AUTH
the FSA’s Authorisation manual.
Authenticate
1. Verify authorship of a patient’s medical record by signature, initials, or rubber stamp that data are accurate, complete, and final. 2. Verify or identify access privileges of a user or user device to an information system. 3. Process to certify that a document is genuine.
Authorised insurer
A firm with FSA permission to effect and carry out insurance contracts (other than a bank). See AUTHORISATION.
Authorised person
A person who has been authorised by the FSA to have a Part IV permission of the FSMA to undertake one or more of the regulated activities. Persons must meet the threshold conditions detailed in the Threshold Conditions Manual. Insurance applicants must be a body corporate excluding limited liability partnerships, registered friendly societies or members of Lloyd’s.
Authorised professional firm (APF)
Professional firm that is an authorised person and therefore has a Part IV permission from the FSA to carry on one or more regulated activities. When undertaking non-mainstream regulated activity, APF exemptions apply.
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UK: exemptions The disapplications and modifications of the FSA’s Handbook that apply in respect of APFs when undertaking non-mainstream regulated activity.