The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 was passed as a response to the late-2000s financial crisis, and is intended to improve financial regulation in the U.S. to protect the strength and integrity of the financial markets. The Dodd-Frank Act established the FIO, included the NRRA, and established the FSOC, which establishes a methodology for determining which financial institutions embody systemically important risk and should be subject to heightened regulation by the Federal Reserve Board, and the OFR (created to support the data collection and research efforts of the FSOC).
Insurance Encyclopedia
Dodd-Frank Act (2011)
An act known formally as the “Dodd-Frank Wall Street Reform and Protection Act” (Dodd-Frank). This 2010 law made dramatic, sweeping changes to the nation’s financial regulatory system. It was enacted to make the U.S. financial system more transparent and accountable and to prevent the type of financial crisis that occurred during 2008. Three specific provisions within Dodd-Frank are likely to increase the nature and scope of legal liability faced by corporate directors and officers. These include
(1) the “clawback” provision, (2) the whistle-blower provision, and (3) the “
DOI
1. Abbreviation for Department of Insurance. See Department of Insurance (DOI). 2 . Abbreviation for date of injury. See date of injury (DOI) .
Dol
An intentional act which is wrongful or unlawful.
Dollar limit (Property Insurance)
A limit on coverage in a homeowners policy. This is usually listed in the Coverage C section of the policy.
Dollar limits
The dollar amount of benefits that can be paid per month or over the life of an insurance policy.
Dollar Threshold
In no-fault auto insurance states with the dollar threshold, it prevents individuals from suing in tort to recover for pain and suffering unless their medical expenses exceed a certain dollar amount.
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In no-fault auto insurance states with the dollar threshold, the threshold prevents individuals from suing in tort to recover for pain and suffering unless their medical expenses exceed a certain dollar amount.
Domain manager
Individual who must have knowledge of health information management, coding, laboratory, and pharmacy and works closely with product managers, operations staff, and quality control.
Domestic boilers/domestic purposes
Boilers not used in trade processes but this does not preclude their use in business premises exclusively for domestic’ purposes such as central heating, supplying hot water for hand washing or use in the works canteen. The term is important as the standard fire policy provides cover for explosion damage caused by boilers used for domestic purposes only. In the same way the standard fire policy covers explosion caused by gas supplied for heating, etc.
Domestic carrier
Insurance company in a specific state that has its head office (domiciled) in that state. Also called domestic insurer .