Laws on nonforfeiture and valuation, made standard in 1947. The name is derived from then head of the NAIC committee responsible for developing these laws, Alfred Guertin.
Insurance Encyclopedia
Guest
In the context of certain hotels, e.g. inns, it is someone who books sleeping accommodation. The innkeeper becomes strictly liable for loss or damage to the property of a guest subject to the limitations introduced by the Hotel Proprietors Act 1956.
Guest law (Legal Terminology)
A law that limits the rights of a passenger in an automobile to demand funds from the driver on the basis of negligence. Typically, the passenger must prove willful and wanton negligence by the driver before they can collect any funds.
Guest property coverage (Criminal)
Commercial coverage form for the property of hotel or motel guests. Two forms exist: One covers property placed inside a safe deposit box on the premises, and the other covers the legal liability of the company for losses incurred on their premises or damages done to property while in the insured’s possession.
Guests’ effects
Property and effects belonging to, or the responsibility to guests, i.e. persons staying overnight at hotels and similar establishments. The proprietor of the establishment can insure the effects under a material damage policy or his legal liability for loss or damage.
Guide Slip
A broker’s slip, covering a previously placed risk, which he uses as guide to the market for a similar risk he is placing.
Guideline premium (Life Insurance)
The highest premium permitted by the IRS under a policy classified as a life insurance policy.
Guidelines
1. Information and instructions at the beginning of each of the six major sections of the Current Procedural Terminology (CPT) code book when coding medical services and procedures. Additional guidelines are provided at the beginning of each subsection and for code ranges. Guidelines present definitions and explanations of terms and phrases, applicable modifiers, explanation of notes, unlisted services, special reports information, and clinical examples. These are all factors to appropriately interpret and report the procedures and services contained in a particular section. 2. Written general rules and procedures to assist physicians in making a diagnosis and giving treatment. These are set down to change practice styles, lessen unnecessary care, and reduce costs. Depending on the region of the United States, may also be referred to as medical practice parameters, clinical practice guidelines , or clinical protocols .
Guiding principles
Principles that guide sharing the coverage of a loss between two insurance companies. These principles are developed by property and liability associations.
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Suggested procedures for establishing primacy of coverage in situations involving loss under a variety of coverage forms and, perhaps, more than one interested party. Last promulgated in the 1960s, the spirit of the principles survives because insurers apparently find that the prescribed procedures commonly lead to equitable settlements for all parties.
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Title of a published set of rules established and endorsed by major property and liability trade associations for adjustments of complex losses covered by several Insurers, particularly with respect to how losses should be apportioned under certain circumstances.
GUL insurance
See: group universal life (GUL) insurance .