(automatic personal accident cover). A personal accident insurance for aircraft passengers offering benefits in return for which they waive any rights they may have at law. The maximum sum payable usually corresponds with the limits of either the Warsaw Convention, the Hague Protocol or the 1967 Carriage by Air (Applications and Provisions) Order.
Insurance Encyclopedia
Admitted Liability, Aviation
A coverage for guests in an aircraft. In the event of an accident, with this coverage guests can recover without having to go through a determination as to whether or not the insured was liable. It is written with a limit per seat in the aircraft.
Admitted market
The range of insurance available through admitted insurance companies.
Admitted reinsurance
A company is admitted when it has been licensed and accepted by appropriate insurance governmental authorities of a state or country. In determining its financial condition a ceding insurer is allowed to take credit for the unearned premiums and unpaid claims on the risks reinsured if the reinsurance is placed in an admitted reinsurance company.
Admitted Reinsurer
A Company is deemed to be “admitted” in India when it has been licensed and accepted by IRDA. In determining its financial condition a ceding insurer is allowed to take credit for the unearned premiums and unpaid claims on the risks reinsured if the reinsurance is placed in an admitted reinsurance company.
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US, MEDICAL: Reinsurer licensed to accept reinsurance in a given region in the United States. Also called an authorized reinsurer.
Admitted Seaworthiness
There is an implied warranty in a marine cargo policy that the ship used to carriage is seaworthy and reasonably fit to carry the cargo to its destination. As the cargo owner can often not control the seaworthiness of a ship, insurers usually include a clause in the policy to modify the implied warranty.
Admitting diagnosis
Initial identification of the condition for which the patient is admitted to the hospital as an inpatient.
Admitting diagnosis code
Three- to five-digit numeric diagnostic code number that indicates the patient’s diagnosis at the time of inpatient hospital admission.
Admitting physician
Patient’s provider of medical services who arranges for the patient’s admission to a hospital or facility.
Adoptee
Individual who has been adopted.