An instrument which is evidence of a pledge of real property as security for a debt, where the title to the real property is held by a third party in trust, while the debtor repays the debt to the lender. The debtor is known as the trustor, the lender is known as the beneficiary, the third party is known as trustee.
Insurance Encyclopedia
Deed Poll
A deed to which there is only one party.
Deemed
Providers are “deemed” when they know, before providing services, that the patient is in a private fee-for-service insurance plan, and they agree to give the patient care. Providers who are deemed agree to follow the patient’s plan’s terms and conditions of payment for the services given.
Deemed Attachment Date
The date inserted in a broker’s slip by the leading underwriter in place of the actual month of attachment, in order to allow the broker a longer period of credit than would otherwise be permitted under the terms of credit scheme.
Deemed status
Designation that a Medicare+Choice organization has been reviewed and determined “fully accredited” by a Centers for Medicare and Medicaid Services (CMS)–approved accrediting organization for those standards within the deeming categories that the accrediting organization has the authority to deem.
Deemed wage credits
See: noncontributory wage credits .
Deemer clause
Law that if an insurance policy is filed with an insurance department that it is considered approved after a specific period of time unless the Insurance Commission gives a disapproval notice.
Deeming authority
Power granted by the Centers for Medicare and Medicaid Services (CMS) to accrediting organizations to determine, on CMS’s behalf, whether a Medicare+Choice evaluated by the accrediting organization is in compliance with corresponding Medicare regulations.
Deeming clause
A part of the notification clause of a claims-made policy. It provides that when a circumstance is notified in one year but the claim not made until a subsequent year, it will be deemed to be made in the year of notification. See LAUNDRY LIST.
Deep Pocket Syndrome
A situation where claims are made based on the ability of the defendant to pay rather on share of blame. An injured party will try to blame the party with the greatest wealth (i.e., deepest pocket) where there is more than one potential defendant. Example: A & B are jointly liable for an injury; A was 90% negligent and B was 10% negligent, but A has no assets; the claimant is permitted to reach into the “deep pockets” of B for the full amount of the award against A & B.