Written or dictated letter or chart note documenting details about subsequent examinations of the patient.
Insurance Encyclopedia
Progressive care
System of giving medically necessary health care at any given stage in illness or recovery (i.e., from acute care in a hospital through the recuperation phase).
Progressive impairment
A temporary or permanent increase in severity of impairment of a body part, organ, or system. This may be due to disease or injury (e.g., hearing loss going from bad to worse).
Progressive rates
System in which an insurance plan employs new rates either monthly, quarterly, or semiannually. Individuals who apply or renew policies are affected by the rates in effect.
Prohibited conditions
Conditions in a compulsory insurance policy (motor and employers’ liability) that are prohibited for the purpose of the legislation (e.g. ‘things to be done after the event’ such as reporting the incident and not admitting liability).
Prohibited list
Also known as the undesirable list. A list encompassing the risks that a given insurer will not cover.
Prohibited Risk
Exposure or applicant which an Insurer has decided it will not insure under any condition
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A type of business an insurer will not write cover.
Prohibition notice
1. Prohibits the continuation of work until specified improvements have been carried out. Notices are issued by HSE inspectors. Contravention of the order risks prosecution for the employer and/or company officers responsible. 2. An order by Opra banning an individual from being a trustee of one particular occupational pension scheme.
Project financing/limited recourse finance
A technique whereby a major project is insured by the ECGD with reference to the viability of the project and its cashflow rather than by reference to the general financial strength or creditworthiness of the buyer or borrower. The foreseen earnings provide the essential security for the lender and the insurer.
Project insurance
A policy used with large construction projects. The principal effects a policy on the project as a whole to avoid the multiplicity of policies that occurs when each party arranges his own insurance. The policy applies to the more conventional material damage and liability policies (except employers’ liability and motor risks which are governed by legislation), but does not usually include professional indemnity risks.