It is a situation where the public may come in large numbers to the premises, e.g. sports grounds, theatres, department stores, etc. See PREMISES RISK.
Insurance Encyclopedia
Public adjuster
US: A claims adjuster who represents the interests of an insured in a property loss. Public adjusters negotiate settlement of such claims with the insurer’s claim representative. Public adjusters are compensated with a percentage of the payable loss that they are able to secure for their clients (2 to 15 percent, depending upon the size and complexity of the claim). They are frequently retained in situations involving business interruption (BI) claims, which involve special expertise in the areas of accounting and insurance coverage analysis.
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An adjuster who represents the insured in settling a claim for loss covered by an insurance policy.
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An adjuster who works on a fee basis on behalf of an insured.
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An individual or member of a firm who contracts with private parties to aid with the preparation of loss statements and presentation to insurers. Contrast with Independent adjuster.
Public assistance
A system providing welfare services, instituted by the state and federal government. Services are provided to the elderly, disabled people, and low-income families.
Public authorities clause
Material damage clause covering the extra cost of reinstatement that arises solely in consequence of a public authority or European Community requirement. The cover applies to property damaged by an insured peril including undamaged portions of the affected building but not undamaged buildings. The sum insured should take account of the potential extra costs.
Public Authority Clause
A clause in a Fire insurance policy providing for the extra cost in rebuilding premises of meeting the requirements of public authorities.
Public Company Accounting Oversight Board (PCAOB)
A private-sector, non-profit corporation created as part of the Sarbanes-Oxley Act (SOx). The PCAOB developed in response to the auditing failures that were associated with several high-profile corporate bankruptcies in the early 2000s. Its purpose is to oversee the accounting firms that audit public corporations, in an effort to protect the interests of the investing public. The PCAOB consists of five members, including its chairman, each of whom the Securities and Exchange Commission (SEC) appoints. It conducts inspections of public accounting firms, develops auditing quality control standards, and conducts investigations and disciplinary proceedings.
Public employee’s dishonesty coverage (Criminal)
Insurance that covers losses due to employee dishonesty. This coverage usually pertains to the loss of money or securities.
Public health
Science that deals with the protection and improvement of community health by organized community effort.
Public health authority
Under the Health Insurance Portability and Accountability Act (HIPAA), an agency or authority of the United States: a state; a territory; a political subdivision of a state, a territory, or an Indian tribe; or a person or entity acting under a grant of authority from or contract with such public agency including the employees or agents of such public agency or its contractors, persons, or entities to whom it has granted authority that is responsible for public health matters as part of its official mandate.
public health nurse (PHN)
Registered nurse who works with families in the home, in schools, at the workplace, in government agencies, and at major health facilities. PHNs must complete a baccalaureate degree program approved by the National League for Nursing (NLN) or the American Association of Colleges of Nursing (AACN) for public health nursing preparation or after registered nurse study. A certification program sponsored by the Division of Community Health Nursing of the American Nurses Association is also available.