iNSURANCE Coverage on the vehicle for physical damages to the vehicle itself. This Coverage usually is broken down into collision and other than collision coverages, and is part of the commercial auto or personal auto policy.
Insurance Encyclopedia
Autologous bone marrow transplant (ABMT)
Type of treatment for cancer in which the patient is his or her own bone marrow donor as compared with allogenic bone marrow transplant in which the donor is another individual.
Automated claim review
Claim evaluation and determination made using system logic (edits). Automated claim reviews never require the intervention of a human to make a claim determination.
Automated claims payment
Computerized claims processing system used in reimbursement of medical, dental, or disability insurance claims.
Automated clearinghouse (ACH)
Third-party administrator (TPA) that receives information from another entity, performs software edits, and redistributes the claims electronically to various insurance carriers in a standard transaction. Also known as clearinghouse .
Automated eligibility verification system (AEVS)
An interactive voice response system in the Medi-Cal program that allows providers to access recipient eligibility, clear share of cost, and/or reserve a Medi-Service.
Automated Medicaid payment system (AMPS)
Name of an insurance claim reimbursement method that uses computer technology in settling Medicaid claims.
Automatic bill payment
Bank service that permits payment by one check to a number of creditors or direct payment by the bank for specified recurring bills by monthly transfer of funds (e.g., payment of insurance premiums). See also electronic funds transfer system (EFTS) and preauthorized payment. Also called bank check plan, check deposit billing, electronic funds transfer system (EFTS), check-o-matic, preauthorized checking, or preauthorized payment.
Automatic coverage
Coverage that is automatically provided under an existing policy to cover newly purchased property or property that appreciates in value.
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Insurance coverage given automatically by a Policy, usually for a specified period and limited amount to cover increasing values and newly acquired and changing interests.
Automatic escalation clause
See: Escalation Clause; Index-Linking.