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ALE

Abbreviation for Additional Living Expenses, a coverage found in personal lines homeowners, condominium, and tenant policies.

Aleatory Contract

“A contract is an aleatory contract when it meets one or both of two conditions. One condition is that the execution or performance under the contract depends on a contingency or random event that is beyond the control of either party to the contract. The other condition is that the sums paid by the contract parties to each other are unequal.*****MEDICAL: Insurance contracts are aleatory contracts and meet both conditions. The contract is executed when an unforeseen event takes place. Moreover, the insured may collect a sum much larger than the premium paid or may collect nothing for the premium paid. (See Unilateral Contract).”Agreement in which one of the parties may recover a larger value than the value lost, which is dependent on the occurrence of a future contingency.*****
Insurance contracts are Aleatory contracts, i.e., the obligation of at least one of the parties to perform is dependent upon chance. If the event insured against occurs, the Insurer will probably pay the insured a sum of money much larger than the premium. If the event does not occur, the Insurer will pay nothing.

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UK: Any form of contract involving chance. Insurance contracts involve chance if they are of an aleatory nature, but the legal requirements as to insurable interest prevent them from being used for wagering.

 

Algorithm

Rule or procedure containing conditional logic for solving a problem or accomplishing a task. Guideline algorithms concern rules for evaluating patient care against published guidelines. Criteria algorithms concern rules for evaluating criteria compliance. Algorithms may be expressions in written form, graphic outlines, diagrams, and flow charts that describe each step in the work or thought process.

Alien

Individual not a citizen or national of the United States but belonging to another country or people; a foreigner. May be referred to as an immigrant when a person from another country comes to settle.