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Experience refund

UK: a refund of premiums made to the insured when the claims payable under the contract are at a lower level than anticipated by the insurer.
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MEDICAL,USA: Insurance premium returned by an insurance company to a group policyholder because the financial experience of the group has been more than the premiums collected from that which was anticipated. Also called dividend, experience rating refund, premium refund , and retroactive rate reduction .
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UK: Term used by life reinsurers to describe the profit commission that they pay to the ceding office as a refund based on the profitability of the business.
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Under a reinsurance agreement, that part of the profits that is returned to the cedant after recognition of contingency reserves, loss carryforward, and loss carryback provisions. See Carryover provision.

Experimental

Any treatment, procedure, equipment, drug, drug usage, device, or supply not generally accepted as standard care in the practice of medicine. This includes services or supplies requiring federal or government approval not granted at the time services were rendered. Also called investigative . See experimental care .

Experimental care

1. Medical care that has not yet been accepted as standard care in the practice of medicine. 2. Any medical care that needs federal or other governmental agency approval that was not given at the time the care was provided. Also called investigative care .

Experimental procedures

Medical services, supplies, treatments, or drug therapies still in a trial stage, determined by the insurance plan not to be generally accepted as standard care in the practice of medicine, and not effective in treating the illness for which their use is intended. Also called unproved procedures .