1. State license to operate as a health maintenance organization (HMO). 2. Insurance company’s document that grants authority to a particular agent or group of agents to act on behalf of the insurer. 3. Certificate issued by a state’s insurance department that authorizes an insurance company to issue certain types of insurance in the state.
Insurance Encyclopedia
Certificate of authority (Health Insurance)
A state-issued certificate licensing the operation of a health maintenance organization.
Certificate of confidentiality
Federal document that legally protects researchers from having to disclose information about research participants as a result of a subpoena or court order. It is for projects involving information of a sensitive nature that, if released, could harm participants. See sensitive information.
Certificate of Convenience
A term used in some countries to refer to a temporary license or perming empowering a person to act as an agent even through not fully licensed according to the law. Usually this certificate is granted to an agent who is studying for a licensing examination. It might also be issued to the administrator or executor of the estate of an insurance agent who must have the authority of an agent to settle the estate, or to someone acting for an agent during a disability or an absence such as military duty.
Certificate of coverage (COC)
Document given to an insured by the insurance company or any employer that offers a health plan. It describes the benefits in detail under the policy issued. It is required by state law. Also called evidence of coverage (EOC), benefit plan, insurance policy, subscriber agreement, subscriber certificate, and subscriber contract.
Certificate of eligibility
Confirmation by an employee that he is not a member of an occupational pension scheme and is eligible to pay into a personal pension scheme.
Certificate of entry
The policy issued by a Protection and Indemnity Club when a vessel is entered in the club.
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A policy issued by a Protection and Indemnity Association in respect of a vessel entered in the Association.
Certificate of existence
A survival certificate certifying that an annuitant is still alive.
Certificate of indebtedness
1. Document issued by an insurance company and given to the beneficiary of a life insurance policy that states a guaranteed minimum interest rate and the frequency of interest payments. 2. Short-term certification, 12 months or less, of a specific portion of debt due by the federal government to individual holders, bearing a fixed rate of interest.
Certificate of Inspection
A document certifying that the goods were in apparent good condition immediately prior to shipment.