In workers compensation, a demand by a third party in a subrogation action suing for damages from the employer.
Insurance Encyclopedia
Active
1. In business, producing profit or interest (active funds). 2. In insurance, may refer to a group or individual member or subscriber’s status that is currently in effect.
Active breaches of utmost good faith
Actual statements that convey false or misleading information relating to a material fact. Innocent misrepresentation is the unintentional misrepresentation of a material fact; fraudulent misrepresentation is deliberate. See Utmost Good Faith.
Active duty family members (ADFM)
Spouse and dependents of an active member of the United States government military services (e.g., Army, Navy, Air Force, Marines, Coast Guard). This phrase is used more frequently in the TRICARE health care program.
Active duty service member (ADSM)
Active member of the United States government military services (e.g., Army, Navy, Air Force, Marines, Coast Guard).
Active investment management
Occurs when pension funds are used to purchase and sell particular investments to secure growth above the level of a chosen benchmark.
Active Malfunction
A Products Insurance term. If the product instead of bringing a benefit to the user, actually damages the user’s property, it is an active malfunction. An example is bug killer which when applied to a crop, damages the crop. Active malfunctioning is covered.******In products insurance, a defect or malfunction in a product that damages the property of the user.
Active member
A current employee of a pension scheme engaged in building up pension benefits in an occupational pension scheme. During a contribution holiday a member may still accumulate extra pension benefits without payments into the scheme.
Active Underwriter
The individual at the underwriting box with principal authority to accept insurance and reinsurance risk on behalf of the members of a syndicate.
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The person at the underwriting box at Lloyd’s with principal authority from the managing agent to accept risks on behalf of the syndicate he represents.
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in the Lloyd’s market, an underwriter who is authorised to accept risks on his/her own account and on behalf of names in the syndicates for whom he/she acts.
Actively at work
Group life or health policy term requiring a new member (or a member increasing cover) to be at work or on holiday on the day of joining or increasing the cover, and not absent due to sickness or industrial action. Cover may begin on the employee’s return to work, either automatically or with the insurer’s consent.
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Some group health insurance policies stipulate that if an employee is not actively at work on the day the policy goes into effect, the coverage will not begin until the employee return to work.