Insurance coverage for a pregnancy that begins before the date the individual becomes insured.
Insurance Encyclopedia
Immediate nonemergency care
Instant treatment for a medical, surgical, or dental condition or symptom that is not an emergent situation but is given for the health and well-being of the individual.
immediate participation guarantee (IPG) contract
Agreement that does not completely protect the plan sponsor against investment loss or minimum investment returns.
Immediate Rebate System for Liner shipping Rebating Arrangements
here contract shippers are given cash or immediate rebate (usually 9½% of freight on payment of their cargoes. This procedure helps shippers in obtaining their rebate straightaway, without blocking such money as in deferred rebate system. The rates of rebate may vary from conference to conference.
Immediate vesting (Liability Insurance/Property Insurance)
Under immediate vesting, the insured may begin collecting benefits right away. This is typically only done in pension plans.
Immediately
Has been held to mean ‘with all reasonable speed considering the circumstances of the case’ (Re Coleman’s Depositories Ltd and Life and Health Assurance Association (1907). In Farrell v. Federated Employers Insurance Association Ltd (1970) a writ served on 7 January 1966 was not given to the insurer until 3 March 1966. Lord Denning MR said that ‘with all reasonable speed would mean by the end of January at the latest’. Insurers often require notification of a claim immediately and, under liability policies, require the insured to forward every writ, notice, letter or other document served on him immediately on receipt.
Immigrant
See: alien.
Immobiliser clause
Goods in transit clause requiring vehicles to be fitted with an approved anti-theft device that is put into effective operation when the vehicle is left unattended. The particular wording of the clause is important. See ALARM SYSTEM IN OPERATION.
Immunization
The invest of assets in such a way that the insurer’s existing business is immune to a general change of interest rates in the future.
Immunosuppressive drugs
Transplant drugs used to reduce the risk of rejecting the new kidney after transplant. Transplant patients need to take these drugs for the rest of their lives.