1. Place of service (POS) where a medical service is performed such as a hospital (inpatient or outpatient), doctor’s office, or skilled nursing facility. When the physician’s office or an outpatient hospital is billing, the two-digit POS code is inserted in Block 24B of the CMS-1500 insurance claim form (e.g., 11 is doctor’s office and 12 is patient’s home). 2. Anatomical location of a medical problem.
Insurance Encyclopedia
Location Card
A record of Insurance placed on a location.
Location clause
Cargo insurance clause in open covers limiting cover at any one location during transit when the goods are not on the oversea vessel. Shipments may accumulate at one port and the clause limits the insurer’s liability to an amount for any one loss in any one location.
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A clause in cargo open cover or floating Policy which limits Insurance cover whilst goods are accumulated in one location.
Location code
See: place of service (POS) code .
Location Limit
A limit in an open policy on Marine Cargo restricting the liability of the insurers on cargo in any one location before shipment.
Location-selling distribution system
Distribution of insurance products by finding insurance offices and agents in locations where consumers commonly shop for groceries or take care of other personal or business matters. Also known as retail outlet distribution system .
Lock-in
In managed care plans and health maintenance organizations, a provision in which members must receive their medical care from the network providers unless it is an emergency.
logical observation identifiers names and codes (LOINC)
Code system that consists of universal names and identification codes that identify and are used to report laboratory and clinical observations. It is maintained by the Regenstrief Institute. These codes are expected to be used in the HIPAA claim attachments standard. Also see Regenstrief Institute .
Lok Adalat (Settlement of Motor Accident Related Cases through alternative forum)
The legal Services Authorities Act, 1987 provides for organizing of Lok Adalat by the Legal Services Committees at various levels to determine and arrive at a compromise or settlement between parties to a dispute in respect of any case pending before any court for which the Lok Adalat is organized. The Insurance industry has also established Claims Conciliation Committees and Jald Rahat Yojana which enables negotiated settlements. The award by these would not carry any interest. Thus, the settlement through the above enable the companies to save the interest and administration charges.
London & International Insurance Brokers’ Association (LIIBA )
LIIBA is the trade association representing the interests of Lloyd’s insurance and reinsurance brokers operating in the London and international markets. LIIBA’s Mission is to ensure that London remains where the world wants to do business by continuing the transformation of market processes and maintaining the highest professional standards.