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Gambling

The creation of a situation where there is a chance of either loss or gain. This is the opposite of insurance, which either eliminates or reduces the risk of loss and presents no chance or gain.

Gambling policies

Policies that contravene the Marine Insurance (Gambling Policies) Act 1909. It is not legal to enter into a marine insurance without a bona fide interest, or possibility thereof, in the subject matter insured. It is also an offence for a shipowner’s employee, not being a part-owner, to effect a policy on PPI terms. The Act prevents gambling in marine insurance.

Game cover

Specialised cover for printers and vendors of instant ticket sales and online lottery services. The policy covers: (a) contractual obligations with first party principals; (b) increased cost of failing to conform to these contracts, e.g. print re-runs; (c) printer’s liability following machinery or computer breakdown, etc., not covered under an errors and omissions policy or professional indemnity policy.

Gaming

Illegal or unethical attempt to manipulate a system for financial gain such as billing to maximize income by listing a principal diagnosis that puts the patient in the highest-priced diagnosis-related group (DRG) in a prospective payment system (PPS) when a lower-priced diagnosis more precisely depicts the services given for a patient’s medical problem.