Consequential coverage that insures the loss of rents in the event of the destruction of the insured property.
Insurance Encyclopedia
Renter’s insurance
Insurance policy that gives coverage for a dwelling occupied by a renter that gives coverage against explosion, fire, hail, riot/civil commotion, theft, vandalism, volcanic eruption, windstorm, and accidental discharge of steam from a heater.
Renter’s Policy
A package type of insurance that includes coverage similar to a homeowner’s policy to cover the personal property of a renter or tenant in a building.
Renters insurance
Term for insurance for the nonowner occupant of a dwelling or apartment. Also known as tenants insurance.
Reopen
Term that refers to informal revisiting of a claim payment decision that has been made by a Medicare fiscal intermediary. Situations for reopening are (1) after appeal rights are exhausted, (2) after the time limit for requesting an appeal has expired, (3) 12 months to 4 years after the date of the initial decision, (4) when a decision is unfavorable, (5) to correct a clerical error for fraud, or (6) in response to a court order. Also called revisit .
Reopened Claim
A claim formerly deemed settled, but subsequently re-opened because further payments may be required.
Reopening
1. Remedial action taken after all appeal rights of a denied insurance claim are exhausted, to reexamine or question the correctness of a determination, a decision, or cost report otherwise final. 2. To resolicit an insurance plan to an employer for enrollment of his or her employees who were not previously enrolled.
Repair of Glass, Rubber, Fibre and Plastic Parts Riders for Motor Insurance
In the event of claim for damages only to Glass, Fibre, Plastic or Rubber Parts the insured undertakes to repair these items instead of replacing them and the NCB will not be affected. The repairs must be undertaken at the insurers approved repairers and no other claims for damages to the vehicle are involved.
Repairs
A method of indemnifying the claimant against loss of property. As for example, an automobile or a machinery may be damaged in an accident. Insurers may authorize repairs and pay the amount to the repairer Direct or reimburse the insured for the expenses paid by him on repairs.
Repatriation Expenses
Under Overseas Mediclaim Policy – Expenses incurred to travel back to home country following sickness abroad.