Individual who works as an employee in an organization but focuses on creative and innovative products, services, and work methods. He or she often works independently or in loosely organized teams and is involved in rethinking current products, services, and organizational structures. Also referred to as internal entrepreneur .
Insurance Encyclopedia
intraservice time
Documented face-to-face time or floor/unit time that may be used to calculate the level of Evaluation and Management code when time is the determining factor for the encounter with a patient.
Intrastate Carrier
A transportation company whose business is confined to one state.
Introducer
In terms of the conduct of designated investment business an individual appointed by a provider firm or appointed representative whose role is simply to effect introductions or distribute non-real time financial promotions e.g. leaflets and brochures. The introducer should not give any investment advice except discreet advice to the effect that the client should consider making an investment and recommending a suitably authorised individual or firm he or she may consult. Introducing is also regulated under ICOB as part of arranging non-investment insurance contracts.
Introducer approved representative
An appointed representative appointed by a provider firm and whose scope is limited to: effecting introductions; distributing non-real time financial promotions, e.g. leaflets, brochures. Such a representative can have an unlimited number of principals.
Introducing
See: introducer.
Intruder Alarm
An alarm that gives warning of entry to the premises or some part of them.
Intruder alarm warranty
Warranty whereby the insured under a commercial policy must: install an intruder alarm system as specified; inspect and maintain the system in accordance with specified standards by a NACOSS or other approved installer; put the system into full and effective operation whenever the alarmed portion of the building is closed or unattended. All keys must be removed from the premises when closed or unattended except for a part of the premises residentially occupied.
Inundation
Submergence (i.e. to sink under the surface of liquid). The rising of a body of water and its overflowing onto normally dry land.
Inure to the benefit of
Means taking effect for the benefit of a particular party. Reinsurance contracts may provide that other reinsurances, applied first to the loss, are to ‘inure to the benefit of the reinsurer. If the other insurances are to be disregarded they ‘inure to the benefit’ of the reinsured.