Risk-based capital regime being introduced by the FSA for life and nonlife insurers. Calculations are based on industry-wide assumptions and individual capital guidance (ICG) given to firms based on the FSA’s view of how much capital would be adequate for individual firms to hold taking into account the firm’s risk profile and its own assessment of their own capital needs. ICG will normally be at or above ECR and although for guidance only, the firm’s not meeting the ICG figure will be expected to set out a plan to restore adequate capital. The mechanism, Individual Capital Adequacy Standards (ICAS), means that firms will hold capital more appropriate for their business and control risks and have the incentive to improve their risk management.
Insurance Encyclopedia
Enhanced ordinary charges
The extra charges for the handling of insured cargo because of its damaged condition.
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Increased in the charges for handling insured cargo resulting from the fact that the cargo has been damaged.
Enhancement type policy
Life insurance policy in which part of each dividend provides paid-up additions, and the other part gives 1-year term insurance to produce a predetermined total death benefit.
Enroll
To join a health insurance plan.
Enrolled actuary
Pension actuary who meets the standards of and is enrolled by the federal agency known as the Joint Board for the Enrollment of Actuaries .
Enrolled dependents
Eligible individuals under a member’s family coverage who have applied and been accepted for membership in a health insurance plan (i.e., spouse and children of the insured). Under some insurance policies, parents, other family members, and domestic partners may be insured as dependents.
Enrolled group
Individuals with the same employer or members of an association who are enrolled together in an insurance health plan. Also called contract group .
Enrolled patient
See: enrollee .
Enrollee
1. Person eligible for service as either a subscriber or a dependent of an insurance plan. 2. Individual or employer who becomes a member or subscribes to a health insurance plan or program. Also called beneficiary, enrolled patient, insured, member, policyholder, policy owner , or subscriber .
Enrollee (Health Insurance)
A person enrolled in a health insurance plan. This does not include dependents of an insured.