The premium for an insurance amount in excess of the liability limit. This premium is established by multiplying the manual rate by rate factors, found on a table, to determine a premium for the limit selected.
Insurance Encyclopedia
Manual Handling Regulations 1992
MHR apply to virtually every form of employment. Employers should avoid manual handling whenever reasonably practicable’ otherwise they must make a risk assessment based on the task, the load, the environment and the person. The employer’s duty is to make the task safe while the employee should use the systems of work for handling operations. A breach by the employer amounts to a criminal offence and may provide the basis for an injured employee to claim damages.
Manual premium rate
See: manual rate .
Manual rate
MEDICAL,USA: Cost of a unit of insurance protection (premium) obtained from the insurance company’s standard rating table that appears in the underwriting manual. Also referred to as manual premium rate or manual rating .
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Premium rate specified in a Insurer’s or rating bureau’s manual for a particular line of Insurance.
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The cost of insurance protection as quoted in the rating manual—the rate listed on the state rate pages in the Basic Manual for a given class code. These rates are usually determined on the basis of per $100 of payroll. The term may also refer to rates developed by the application of a recognized rating plan.
Manual rates
Insurance rates derived from data on average claims from a large amount of claims. These rates are then customized based on the information available on certain groups.
Manual rating
See: manual rate .
Manual transmittal
Online instruction manual that the Centers for Medicare and Medicaid Services (CMS) transmits to Medicare carriers. It includes guidelines for processing and paying Medicare claims, preparing reimbursement forms, billing procedures, and Medicare regulations. The manual system has been replaced by online, Internet-only manuals (IOMs)—the, National Coverage Determinations Manual, Medicare Benefit Policy Manual, Publication 100 , one-time notifications, and manual revision and update notices. This information is helpful to providers when dealing with Medicare contractors for issues such as researching information, claims processing, and appealing denials. Formerly known as Medicare Coverage Manual (MCM) . See Medicare Coverage Manual (MCM) .
Manufacturer’s selling price clause (Property Insurance)
A clause under which finished goods that have yet to be sold are valued at the selling price at the time a loss occurs.
Manufacturers and contractors liability (M&
C)The premises and operations liability exposures of manufacturers and contractors covering third parties for bodily injury or property damage negligently inflicted in the course of daily activities.
Manufacturers and contractors liability insurance (Liability Insurance)
A form that covers contractors or manufacturers, wherein premiums are based on payroll amounts.