Under the Fair Credit Reporting Act, document that an insurance company must send an applicant when an adverse decision has been made based on information in a report from a consumer reporting agency.
Insurance Encyclopedia
Post-loss funding
Contingent capital arrangement whereby the funding to pay for a loss is obtained after the loss by means of guaranteed equity or debt finance. The financial institution giving the guarantee receives a commitment fee from the insured. The loss is defined in conventional insurance terms. Post loss funding is alternative risk transfer.
Post-loss minimisation
The steps taken to contain a loss to a minimum amount (loss protection). The property salvaged from a fire may have a sale value or be restored. Property is removed from burning buildings and protected against the elements and theft. Where personal injury or disease is concerned, appropriate support can shorten periods of disablement suffered following injury and trauma. See REHABILITATION.
Post-selection Underwriting
An insurer’s practice of reevaluating the desirability of insureds at or prior to the renewal of their policies.
Postacute care
See: intermediate care.
Postclaims underwriting
Investigation of an insurance applicant’s data that is carried out by the insurance company after insurance coverage was already given. It is an illegal practice and may be triggered by medical bills that reach threshold costs.
Postdated check plan (Life Insurance)
A plan under which premiums are paid via post dated checks for the coming year, which have been given to the insurer. The insurer then presents each check on the date the premium is due.
posteroanterior (PA)
Directional term from back to front. Also referred to as posterior anterior (PA). Some x-rays are taken in this direction.
Posting date
Date a fee entry or adjustment entry is inserted on a patient’s financial account by the bookkeeper of the provider or facility. This may not be the same date as the actual date of service but may occur within 5 days of the actual date of service.
Postmortem dividend (Life Insurance)
A dividend paid out after the insured’s death.