Division in an exclusive-agency insurance company and staffed by company-employed brokerage sales agents. They solicit distribution agreements with other companies offering products that the exclusive-agent company does not have. The company’s agents can then broker business with those companies through the in-house brokerage agency.
Insurance Encyclopedia
In-house care
See: direct care .
In-Kind
An expression relating to the insurer’s right in many property contracts to replace damaged objects with new or equivalent (in kind) material, rather than to pay a cash benefit.
In-orbit insurance
Covers the operational phase of a satellite risk.
In-patient
An individual who has been admitted to a hospital or health care facility as a patient in residence.
In-scheme AVCS
Additional voluntary contributions by a pension scheme member to an insurance company or building society chosen by his pension scheme, or to the scheme itself.
Inability to attend to business of any kind
See: Disability 2.
Inactive
Term that refers to the health insurance status of a group or insured indicating it has been canceled and is not effective.
Inadequate design
See: Faulty Design.
Inappropriate utilization
Use of services that are in excess of a beneficiary’s medical needs and condition (overuse) or receiving a capitated Medicare payment and failing to provide services to meet a beneficiary’s medical needs and condition (under use).