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Defense audit

Type of audit of hospital patient records that occurs when the insurance company requests a review of the patient’s records to verify charges. The insurance auditor may or may not meet with a hospital auditor, depending on the circumstances. Also see audit by request and random internal audit .

Defense expenses

Reasonable costs, charges and fees (including attorneys fees and expert witness fees) incurred by insureds in defending or investigating covered claims, including the premium for any appeal, attachment or similar bond. D&ampO, EPL, Fiduciary and similar insurance policies usually define this phrase. Those definitions typically exclude coverage for compensation or benefits paid to directors, officers or employees of the insured company and other overhead expenses of the insured company.

Defensive medicine

Physician’s policies and procedures such as complete documentation, overuse of tests, increased hospital admissions, or extended hospital stays that are done on each patient to guard against the risk of malpractice lawsuits or to provide a defense in case such a lawsuit occurs.

Deferment of bonus

Life insurance underwriting method for slightly impaired lives proposing for ‘with profits’ life assurance. Acceptance is at ordinary rates but bonuses shall not vest until maturity, or until attainment of the normal lifespan expectation.

Deferral date

Month, day, and year after the first anniversary of a group insurance policy to which the insurance company puts off the payment of the policy’s first renewal premium. This might be done so that the full year’s experience assists the insurance company in calculating a new premium rate.