A particular street address or other designation of a factory, store, warehouse, place of business, private residence, construction camp or the like, at a point.
Insurance Encyclopedia
Place of employment
In workers’ compensation, any place and adjacent premises where employment is carried out.
Place of Rest
The term “place of rest” as used in the Containerized Cargo Rules means that location on the floor, dock, platform or doorway at the CFS to which cargo is first delivered by shipper or agent thereof.
Place of service (Health Insurance)
The location at which a medical service is provided; for example, a hospital or physicians office.
place of service (POS)
Where a service is performed such as a hospital (inpatient or outpatient), doctor’s office, or skilled nursing facility.
place of service (POS) code
Two-digit standard codes used by providers to report the location where the medical service was provided (hospital, office, home). When the physician’s office or an outpatient hospital is billing, the two-digit POS code is inserted in Block 24B of the CMS-1500 insurance claim form (e.g., 11 is doctor’s office, 12 is patient’s home).
Place of Service for Health
This designates where the actual health services are being performed, whether it be home, hospital, office, clinic, etc.
Placement (of cover)
Where a broker effects an insurance or reinsurance contract with underwriters on behalf of its client.
Placement Slip
A temporary agreement outlining reinsurance terms and conditions for which coverage has been effected, pending replacement by a formal reinsurance contract. Also known as a binder, confirmation, slip and in some circumstances, cover note. The use of placement slips has been reduced as a result of “contract certainty” and other “full contract at inception” initiatives.
Placing
(1) Effecting an insurance (2) An insurance which has been effected.