A monthly journal published from Delhi that reports judgements (both Indian and foreign) relating to accidents and insurance claims, employee state insurance claims, cases of negligence and compensation, claims against common carriers, motor and rail accidents claims, arbitration cases arising out of insurance, criminal trials arising out of accidents, and so on.
Insurance Encyclopedia
Accidents only policy
A personal accident policy that limits coverage to accidental bodily injury-related death or disablement (as defined). There is no sickness insurance.
Accommodation business/Insurance/Risk/Line
Unappealing business that an insurer accepts in order to accommodate an existing connection (broker or insured) and maintain that connection’s goodwill.
Accommodation revenue code
A three-digit code used by hospitals and skilled nursing facilities to identify a specific accommodation or ancillary charge on a hospital or skilled nursing facility bill to a third-party payer.
See Also: revenue code.
Accord and Satisfaction
If a claim has been settled by agreement and a binding discharge obtained, it cannot be reopened. Similarly, the law does not permit successive actions based on the same cause. If damages are awarded for bodily injuries based on medical evidence at the time, a fresh action cannot later be brought even if subsequent medical opinion reveals the injuries were more serious than originally agreed. Additionally, in the UK, a liability insurer who has secured a suitable discharge in the name of their policyholder has provided a strong defence against future claims arising from the same cause of action.
Accord and Satisfaction for Negligence (Degrees and Defenses available to the Defendant)
A claim that has been settled by agreement and given a binding discharge cannot be reopened. Similarly, the law prohibits multiple actions. If damages for bodily injury/ies are awarded based on medical evidence, a new action cannot be brought or based on subsequent medical opinion establishing that injuries were more serious than originally agreed.
Account
A ledger, ledger card, financial accounting record, or patient account ledger is a formal record of all transactions made on an individual’s financial record, listing debits, credits, and balance; this term may be computerised, or in a medical practise using a manual bookkeeping system, this term is referred to as a ledger, ledger card, financial accounting record, or patient account ledger.
Account current
An insurer’s monthly statement detailing an agent’s premiums, commissions, cancellations, and endorsements.
Account premium modification plan
A fire, property damage, and time element rating plan. The maximum credit or surcharge is 25%, and it is available to risks with at least a $5,000 three-year premium.
Account sales
A cargo claim document required when the goods have been sold. It shows the proceeds of the sale.