To increase monthly benefits in disability income benefit, pension benefit, or life income benefit to make up for a change in the cost of living. Also known as cost of living rider.
Insurance Encyclopedia
Cost-of-living rider
See: cost-of-living adjustment (COLA).
Cost-related reimbursement
See: cost-based reimbursement .
Cost, Insurance and Freight (CIF)
A form of sale contract whereby the seller’s `price includes the cost of goods and insurance and freight charges through to the agreed destination. Consequently the seller must effect marine insurance for the entire transit.
Costs inclusive limit of indemnity
A limit of indemnity under a liability policy that applies to the insured’s own costs as well as damages and claimant’s costs. Defence costs are commonly a part of the overall limit of indemnity applicable to directors’ and officers’ liability policies. See INDEMNITY LIMITS.
Costs Of Uncertainty
The costs to business, families, and society that arise out of concern about potential losses even if they never occur.
Costs of Uncertainty Itself
The costs of businesses, families and society that arise out of a concern about potential losses even if they never occur.
Council of Lloyd’s
The Council of Lloyd’s was constituted as the governing body of Lloyd’s by Lloyd’s Act 1982. It currently comprises 6 external members, 6 working members and 6 nominated members and is empowered to make byelaws governing the conduct of insurance business at Lloyd’s. Since 2003 the Council has acted by Lloyd’s Franchise Board as regards the development and direction of the implementation of the commercial policy of the Lloyd’s franchise and the direction and regulation of the business of insurance of Lloyd’s.
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The Council of Lloyd’s discharges some of its functions directly by making decisions and issuing resolutions, requirements, rules and byelaws. Other decisions are delegated to committees of the Council and the members of the Executive Committee, in accordance with their respective terms of reference.
Counseling
Discussion between the physician and a patient, family, or both concerning the diagnosis, recommended studies or tests, treatment options, risks, benefits of treatment, patient and family education, and so on. See also E/M counseling and psychiatric counseling.
Counselor
Person who assists the patient by obtaining information and identifying the amount that health insurance pays for a specific medical service and determines the amount the patient is responsible for paying. Also known as patient account representative or patient service representative .