Hospitals, ambulatory surgical centers, nursing homes, day care centers, and alcohol and substance abuse centers that have a contractual agreement with an insurance plan to provide health care services to members of managed care plans and eligible Medicare beneficiaries. Institutional providers bill the insurance carrier or fiscal intermediary directly.
Insurance Encyclopedia
institutional review boards (IRBs)
Advisory boards composed of physicians, scientific professors, ethicists, and concerned nonscientists that have been created by federal legislation to oversee research on human subjects and to protect those subjects from research abuses.
Instructional notes
Detailed descriptions about diagnostic code selection for the insurance biller that appear at the beginning of a heading, in parentheses before or after a code, or in parentheses as part of the code’s description. Also see inclusion note .
instrumental activities of daily living (IADLs)
Physical activities that are necessary for living independently in the community such as cooking meals, shopping for groceries, managing money, taking medications, using the telephone, doing laundry, and housekeeping. Compare with activities of daily living (ADLs) .
Insulation
A hearting retarding material applied in outside walls, top floor ceiling, or in roof to prevent passage of heat or cold in or out of building.
Insur-sure Services Ltd
Formed in 2001 to unify the back office support for the London Insurance Market. It is owned by Lloyd’s (25 per cent), the International Underwriting Association (25 per cent) and by Xchanging (50 per cent). The company has combined the separate processing and settlement operations of Lloyd’s Policy Signing Office and the IUA’s London Processing Centre into a single service for syndicates, insurance companies and brokers. The company also has an e-business infrastructure to enable market participants to continue to compete effectively globally. Xchanging is a company owned by General Atlantic Partners LLC, a leading investor in IT, Internet and Internetenabled business.
Insurability
A measure of whether a person or property is an acceptable risk. An applicant who has met the standards set by an insurance company is deemed insurable.
***
US: Acceptability to the company of an applicant for insurance.
***
Acceptability to the insurer of an applicant for insurance. Able to be insured against. In principle one may insure against the financial consequences of any event where it is a matter of fortuity whether the event will occur or when it will occur. On cannot insure against the consequences of one’s deliberate acts or where insurance would be against public policy. In practice a risk may be uninsurable where (a) the prospect of widespread loss is too great for the insurer to accept, e.g., war damage to property on land; (b) the risk is entrepreneurial, e.g., the risk of a change of fashion rendering stock unsalable; and (c) the risk is too great or unquantifiable.
***
MEDICAL,USA: Physical, moral, occupational, and financial characteristics of a risk that are evaluated by an insurance company to determine whether to insure the entity.
***
UK,REFERENCE See: Insurable Risk.
Insurability provision
Insurance rider that says for a policy to become effective, the insured must be insurable at the time of delivery of the policy according to the underwriting rules and practices of the insurance company.
Insurability statement
Evaluation form that an insurance agent may present to an applicant to fill out when a considerable amount of time has passed between the time the original application is received by the insurance company and the time the policy is issued. It is used to determine if any insurability factors have changed since the original application was completed.
Insurability type temporary insurance agreement
Contract issued together with a conditional premium receipt that gives temporary life insurance coverage from the date stated in the agreement on the condition that the proposed insured is insurable.