A provision in some health insurance policies specifying that benefit will not be paid for amounts reimbursed by others. In group health insurance this is usually called coordination of benefits.
Insurance Encyclopedia
Non Insurable Risk
A risk that cannot be measured actuarially or in which the chance of loss is so high that insurance cannot be written against it.
Non Insurance
Making no financial preparation for meeting losses.
Non Insurance Transfer
Transfer of a loss exposure t an entity which is not an Insurer. Forms of non-Insurance transfer are indemnity or hold-harmless agreements; being a named insured under another party’s Insurance coverage; acquisition/divestiture.
Non Payment Risk
The risk that a debt will not be paid when due.
Non Standard Construction
Used in fire insurance to describe a building any part of which does not conform to the rules for the minimum grade of construction.
Non-admission of liability clause
Liability policy clause prohibiting the insured from compromising or settling any claim or admitting liability without the written consent of the insurer. The clause is not contrary to public policy and the insurer does not have to show that he was prejudiced in order to rely on it.
Non-Admitted Assets
Assets that do not qualify under law for insurance statement purposes. Examples would be furniture, fixtures, agents’ debit balances and accounts receivable which are over ninety days old.
Non-Admitted Company
Insurance Company that has not been licensed to do business in a particular country. In that country it is a “non-admitted Company.”
Non-Admitted Insurer
An insurer that has not been licensed to write insurance in a given jurisdiction.