Public liability policies often exclude liability for damage to property in the insured’s custody and control but the exclusion may require modification or deletion, e.g., in the case of insured who provide car parks or cloakrooms.
Insurance Encyclopedia
Custody and control exclusion
Public liability policy exclusion, of property in the care, custody or control of the insured. The property concerned is ‘bailment’ property insurable by the bailor under a first party insurances or by bailees’ modified liability policies, e.g. hotel proprietors. In any event the general exclusion is overridden in respect of: (a) the effects of directors, employees and visitors, including their vehicles and contents; (b) premises (including contents) temporarily occupied by the insured for work purposes; (c) leased or rented premises; (d) third party property at premises, etc., other than the insured’s premises. See OWN PROPERTY EXCLUSION.
Custom and Usage
Custom and usage of a particular trade or market may be a defense to an otherwise valid claim if the parties can be taken to have accepted it, provided the custom or usage is not unlawful.
Custom House Bonds
Bonds required by Custom Authorities in connection with the payment of duties or the production of bills of lading
Customary and Reasonable (UCR) Charges
In Health Insurance, an approach to benefits under which the policy agrees to pay the “usual, customary and reasonable” charges for a procedure rather than a stipulated money amount.
Customary charge
See: customary fee.
Customary charge (Health Insurance)
The average cost of a certain medical procedure in a particular area during the previous year. This amount is used for establishing Medicare benefits.
Customary fee
1. Amount that a physician usually charges the majority of his or her patients. 2. Either the average fee charged for a specific procedure by all comparable physicians in the same geographical area or the 90th percentile of all the fees charged for a specific procedure by comparable physicians in the same geographical area.
Customary Stranding
In marine hull insurance underwriters agree to pay the cost of inspecting the bottom of the vessel after a stranding or grounding, even if no damage is found, except if the stranding or grounding takes place in certain specified areas known as areas of customary stranding or groundings.
customary, prevailing, and reasonable (CPR) charge
From 1965 a method for determining an approved charge for a specific service for a physician before the implementation of the Medicare Fee Schedule in 1992. The approved charge is the lowest of the following three charges: the physician’s actual charge for the service, the physician’s customary charge for the service, and the charges made by each physician in the same geographical location. Currently, Medicare payment is based on a resource-based relative value scale (RBRVS) and not on CPR charges.