Type of cases that fall outside, either longer or shorter than typical, from the average for a specific diagnosis, procedure, or diagnostic-related group.
Insurance Encyclopedia
lenses
Curved transparent pieces of plastic or glass that are shaped, molded, or ground to refract light in a specific way, as in eyeglasses, microscopes, or cameras. Corrective lenses may be prescribed by an ophthalmologist or optometrist to improve vision.
LESOP
See: leveraged employee stock ownership plan (LESOP) . Also See: employee stock ownership plan (ESOP) .
Less than Truck Load (LTL)
Rates applicable when the quantity of freight tis less than the volume of truckload minimum weight.
Lessee
The person to whom a lease is granted, commonly called the tenant.
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One who possesses the right to use or occupy a property under a lease; the tenant.
Lessee’s safe deposit box coverage form (Criminal)
Insurance that covers the loss of items kept inside the insured’s safe deposit box in a depository facility, such as a bank. This commercial crime form does not cover money kept in a safe deposit box.
Lessor
The person granting a lease, also known as the landlord.
Let
To lease, demise or convey; thus a sign ‘to let.’
Letter of Acceptance
A letter from the Insurer to the insured indicating that the insured’s proposal for Insurance has been accepted.
Letter of credit
A document issued by the buyer’s bank, through its foreign correspondent bank, establishing a credit against which the seller may draw after complying with specific instructions. In reinsurance, typically used to permit reserve credit to be taken with respect to non-admitted reinsurance an alternative to funds withheld and modified coinsurance.