Person who files a qui tam suit on behalf of the U.S. government. See qui tam action, qui tam provision, and whistleblower .
Insurance Encyclopedia
Release
The act of discarding or doing away with the claim one person has against another. This term can also be used for the document used to terminate such a claim. For example, a lien release is issued to the owner of a property by a contractor after the contractor has been paid for the work they have done.
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(i) To give up, abandon, and discharge a claim or an enforceable right to one as against another. (ii) Name of the instrument evidencing such an act. (iii) The act of Writing by which some claim or interest is surrendered to another.
release of information (ROI)
To disclose a patient’s protected health information (PHI). See authorization form and consent form for mandates required by the Health Insurance Portability and Accountability Act (HIPAA).
Release of Reserve
Where a company has reserved money for a particular purpose and the reserve or part of it is found not to be required for that purpose it is said to be released.
Relevant benefits
Financial benefits provided on death or retirement, other than permanent health benefits or sums payable on accidental death in service, that are relevant to an occupational pension scheme for the purpose of ‘exempt approved’ status. IR 12 (Practice Notes) sets out the detail.
Relevant earnings
See: Net Relevant Earnings.
Reliable information
Data that include truthful written or oral allegations or other material facts that might cause a noninterested third party to think there is reason to believe a specific set of data exists (e.g., false claims submitted for noncovered or miscoded services).
Remainder
The amount of a risk to be reinsured after deducting the amount the ceding company is keeping in its own account.
Remainder (Reinsurance)
The amount of risk left over after deducting the amount the ceding company wishes to keep insuring. This is the amount that needs to be reinsured.
Remainder Period
The period, after the initial period, in a business interruption policy covering wages on a dual basis, during which some payment is made in respect of wages incurred, at less than the 100% provided for the initial period.