UK: A person who owes money to another, i.e. his creditor. The creditor has an insurable interest in the life of the debtor.
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One who owes a legal obligation or money to another.
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MEDICAL,USA: Person owing money that is obligated on a debt.
Insurance Encyclopedia
Debtor-creditor groups
Group composed of lending institutions such as banks, credit unions, savings and loan associations, finance companies, retail merchants, and credit card companies and their debtors.
Debug
To remove errors from a software program or the computer itself.
Decapitation
Insufficient payment by a managed care plan in which physicians and hospitals are paid a fixed, per capita amount for each patient enrolled over a stated period of time, regardless of the type and number of services provided; inadequate reimbursement to the hospital on a per-member/per-month basis to cover costs for the members of the plan.
Decedent
MEDICAL,USA: Individual who has died.
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Same as deceased.
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Synonym for deceased.
Decennale Liability Insurance
Liability insurance for contractors, architects and consulting engineering covering both liability for accidents on the site during a construction period and subsequent liability for collapse or defects for up to 10 years.
Decennial insurance
Single premium tenyear (or longer) latent defects insurance indemnifying the owner against physical damage to the premises caused by an inherent defect in the design, materials, or construction of the structure. Cover includes remedial work when an inherent defect threatens the stability of the building. Subsidence, heave and landslip are covered if accompanied by damage to the structure. Insurers paying claims may acquire subrogation rights against any contractor or professional otherwise liable for the defect. The policy is assignable by the insured to new owners.
Decision notice
Issued to inform a person of the disciplinary action the FSA proposes to take against him. The recipient is allowed 28 days in which to refer the matter to the FSMA Tribunal. If no referral occurs the FSA issues a final notice stating the action to be taken and the date upon which their decision takes effect. The FSA’s Decision Making Manual refers. (Visit www.fsa.org.uk).
Deck cargo
Cargo carried outside rather than within the vessel’s enclosed cargo spaces. Rule for Construction 17 provides that, in the absence of custom and trade practice, deck cargo and living animals should be insured specifically and not under the general denomination ‘goods. The insurer’s knowledge is such that a mere description of the goods may be sufficient notice that the cargo will be carried on deck.
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Cargo carried on deck rather than stowed under deck. On deck carriage is required for certain commodities such as explosives.
Declaration
(i) The statement of the proposal form signed by the insured to certify the accuracy of the information he has given. (ii) Portion of some Insurance policies that contain information identifying the insured, the general nature of the coverage, and the basis on which the premium is computed. (iii) In Fire Insurance, declaration refers to periodical returns of the value of the goods dispatched. Under declaration policies these returns stand for the purpose of premium adjustment.
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UK: 1. A statement on a proposal form whereby the proposer affirms the truthfulness of his answers, usually to his best knowledge and belief. The declaration may convert the statements into warranties which become the basis of the contract. 2. Periodic declarations of a variable, e.g. wages, made by the insured under adjustable policies.
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MEDICAL,USA: Section in a property or liability insurance policy that lists the name and address of the policyholder, property insured, location and description, policy period, amount of insurance, premium, and additional information given by the insured.