Situation that affects primary decision-making by providers or health plans that is related to competitive levels of insurance benefits or types of medical services.
Insurance Encyclopedia
Market price
Amount paid or value considered in the open market at which a security or stock can be bought or sold.
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The price actually paid or the price considered to be obtainable in the open market under the conditions currently existing.
Market Price (or Market Value)
The price at which a item can be bought or sold at any particular time.
Market Risk
A risk experience by those who invest in securities which is the risk of possible loss of investment since there are no guarantees associated with such investments.
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Chance of loss or gain according to changes in demand or supply in a market place, typically the market for an organization’s output. In markets for money and securities, however, both the interest rate risk and investment risk are, broadly speaking, market risks.
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The risk of possible loss of the money one has invested. This risk exists with any investment, because no investment is guaranteed.
Market segment
Phrase that refers to the section, part, or portion of a specific class or type of potentially enrolled consumer for selling an insurance contract (e.g., groups under 100 employees or self-funded groups).
Market share
Section or portion of a potential market, usually expressed as a percentage, that a managed care plan has captured.
Market share liability
A principle whereby all manufacturers of a particular type of product share liability for its injurious nature in proportion to their market shares for that particular product. The principle is adopted in some US courts where the cause of the harm cannot be traced to particular manufacturers.
Market value
MEDICAL,USA: Current assets worth that is based on the daily stock market such as stocks, bonds, and real estate.
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The price at which insured property could have been sold just prior to its loss or damage. Along with cost new minus use deprecation, market value is but another gauge used to determine the loss settlement to which an insured is entitled. The insured may choose the gauge that produces the most favorable outcome.
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The price for which a product would sell on the current market.
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The quantity of other commodities a property would command in exchange, specifically the highest price estimated in terms of money which buyer would be warranted in paying and a seller justified in accepting provided both parties were fully informed, acted intelligently and voluntarily, and further that all the rights and benefits inherent in or attributable to the property were included in the transfer.
Market value appraisal
An appraisal to determine the market value of a building and related personal property.
Market value clause
Provision in an insurance policy that provides that the insurance company, in the event of loss, will pay the selling price of the completed merchandise instead of cost replacement or its actual value.
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A provision that may be used in certain property insurances which obligates an insurer to pay the established market price of destroyed or damaged stock rather than its cost to the insured. This coverage is usually only available to manufacturers with finished products, not to wholesales or retailers.