A document or voucher detailing services billed and describing payment determinations that is sent to the insured and provider. It is known in Medicare, Medicaid, and some other programs as a remittance advice (RA) ; formerly known as Explanation of Medicare Benefits (EOMB) . In the TRICARE program, it is called a summary payment voucher . A payment check is usually attached or a part of the EOB. The EOB should include details of the claim(s) submitted, payment(s), deductible status, and each insured’s responsibility to the provider. See also electronic remittance notice (ERN), remittance advice (RA) , and Medicare remittance notice (MRN) .
Insurance Encyclopedia
Explanation of benefits (Health Insurance)
A statement mailed to a policyholder that itemizes services, the amount paid for them, and the amount the patient is liable for.
explanation of coverage (EOC)
Insurance booklet or section in the insurance policy that summarizes provisions (benefits and coverages) under an insurance policy. Also called a benefit booklet, benefit plan summary , or summary plan description .
Explanation of Medicare Benefits (EOMB)
See: remittance advice (RA) .
Explanation of Medicare benefits (Health Insurance)
A statement mailed to a Medicare participant explaining the payment of his or her claim.
Explanatory notes
Additional information about items referenced by footnotes or symbols on an explanation of benefits (EOB) document.
Explosion
The sudden and violent rendering or tearing apart of the permanent structure of a boiler or pressure plant or any part or parts thereof by force of internal steam, gas or fluid pressure causing bodily displacement of the said structure and accompanied by the forcible ejectment of its contents.
***
An extended coverage peril and currently a covered peril in nearly every policy of property insurance. The peril remains distinct from steam boiler explosion, which is covered by boiler & machinery insurance.
Explosion (engineering insurance)
In engineering insurance explosion means the sudden and violent rendering of the plant by force of internal steam or other fluid pressure (other than pressure of ignited flue gases) causing bodily displacement of any part of the plant, together with forcible ejectment of the contents. The risk is insured by using the term explosion or collapse as a way of specifying the insured perils. They are the prinicipal risks covered in respect of boilers and steam pressure vessels under the control of the insured.
Explosion (fire and additional perils insurance)
The standard fire policy covers concussion damage following the explosion: (a) of boilers used for domestic purposes. (b) in a building not forming part of a gas works of gas used for domestic purposes or for lighting. No other concussion damage is covered under the standard fire policy but fire consequent upon explosion is covered. Other explosion damage can be added as an additional peril.
Explosion collapse and underground damage (“XCU”) (Liability Insurance)
In business liability insurance, this term is used to denote that these hazards apply to specific kinds of work.