An exclusion common to several forms of liability insurance, which eliminates coverage with respect to damage to property in the insured’s care, custody, or control. Coverage for this exposure is available under other, more specific forms of insurance, such as motor truck cargo and garagekeepers insurance. In some cases, CCC has been determined to entail physical possession of the property; in others, any party with a legal obligation to exercise care with respect to property has been deemed to have that property in its CCC.
Insurance Encyclopedia
Care/Caid
See: Medicare/Medicaid (Medi-Medi). Also See: crossover patient.
Care/Caid case
See: Medicare/Medicaid (Medi-Medi). Also See: crossover patient.
Career agent
Full-time insurance company representative licensed by the state who sells insurance policies and services to the policyholder for the insurer and sends all or almost all of his or her business to that company. He or she may also act as a broker with other companies.
Career average benefit formula
Defined benefit formula in which the retirement benefit amount is based on the participant’s compensation during the entire period of participation in the plan. Also called career earnings benefit formula. See also defined benefit formula .
Career average revalued scheme
Career average scheme under which the benefits are revalued each year by reference to an appropriate index during pensionable service.
Career average scheme
Pension scheme under which the benefits for each year of membership are related to the pensionable earnings for that particular year. See CAREER AVERAGE REVALUED SCHEME.
Career earnings benefit formula
See: career average benefit formula.
Caregiver
Individual who helps care for someone who is ill, disabled, or aged such as a relative or friend who volunteers to help. However, some people provide caregiving services for a cost.
Cargo
Goods transported aboard a vessel or other conveyance not being provisions, stores, equipment or bunker fuel for use on the vessel. The cargo owner’s insurable interest continues for so long as he has title to the goods. There are other cargo interests. The risk factors in marine insurance: mode of transportation; type of goods; packing; size/weight/value; trip route; trip duration; season; socio-economic environment.
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Material or goods carried by ship, rail/road or aero plane.