The process of endorsing a health care provider to participate in or provide care under a health care plan.
Insurance Encyclopedia
Credibility
A statistical measure of the reliability of experience data, based on the size of the sample.
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Degree of statistical confidence which properly can be ascribed to data on part losses as a predictor of future losses. In general, credibility increases with the number of past losses studied, the similarity of the exposures giving rise to part losses and, with respect to predictions of future losses, the absence of significant changes in future conditions.
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MEDICAL,USA: Percentage weight given to an insured group’s past claim history. It is done to set the premium for future expected claims or to determine claim charges for experience refund purposes.
Credibility factor
See: credibility percentage.
Credibility percentage
Amount of credit given to a group’s actual insurance claims experience in establishing a projection of future claims or in calculating a dividend. Also called credibility factor.
Credit
1. From the Latin credere, meaning “to believe” or “to trust”; trust in regard to financial obligation. 2. Accounting; entry reflecting payment by a debtor (patient) of a sum received on his or her account.
Credit Accident Insurance
Insurance to relieve a debtor of his obligations to pay during periods of inability to earn as a result of accidental injury
Credit card forgery
A criminal act involving the illegitimate use of credit cards to obtain goods or money. Limited coverage for such losses is automatically provided in most homeowners policies.
Credit Card Forgery (Credit Card Insurance)
This protects the insured against losses caused by forgery in the use of credit cards or alteration of them or of any other written instruments connected with them.
Credit card insurance (Property Insurance)
Coverage usually provided under a homeowner’s policy that covers the insured in the event of fraudulent credit card use.
Credit card protection insurance (CCPI)
Provides cover up to £75,000 against fraudulent use of a lost or stolen credit card. The policy also provides £1,000 interest free advance if the insured is stranded overseas and includes other emergency benefits.