A document used to secure proposals for insurance or risk management services.
Insurance Encyclopedia
Request note
A document whereby an insurer presents a reinsurer with particulars of a risk proposed for facultative reinsurance. The reinsurer may respond with a take note stating the amount of reinsurance undertaken.
Requestor
Entity who formally requests access to the Centers for Medicare and Medicaid Services (CMS) data.
Required by law
Under the Health Insurance Portability and Accountability Act (HIPAA), mandate contained in law that compels a covered entity to make use or disclosure of protected health information and that is enforceable in a court of law such as court orders and subpoenas.
Required minimum margin (RMM)
The minimum margin of solvency required at all times of regulated general and long-term insurers. Firms in breach must provide a plan to restore their financial position. The FSA definition of RMM is effectively a weighted average of provisions (life insurance) or premiums/claims in non-life business, but the FSA, taking its ‘realistic approach’, looks at the way RMM, often conservative, has been calculated. See SOLVENCY MARGIN.
Rerelease
Situation when a requestor formally requests permission to rerelease Centers for Medicare and Medicaid Services (CMS) data that has been formatted into statistical or aggregated information by the recipient. CMS is responsible for reviewing the files and reports to ensure that they contain no data elements or combination of data elements that could allow for the disclosure of the identity of the Medicare beneficiary or a physician and that the level of cell size aggregation meets the stated requirement.
Res ipsa loquitur
Latin for “the thing speaks for itself.”
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UK: ‘The thing speaks for itself. The maxim applies whenever it is improbable that an accident would have occurred without negligence on the part of the defendant. The court infers negligence and the defendant has to disprove it.
Res ipsa loquitur (Legal Terminology)
A legal doctrine under which a person is deemed negligent if he or she is found to have had total and sole control over the circumstances of an injury, and the injury was only possible if the individual in question had been negligent.
Res Judicata
The principle that once a competent Court has adjudicated on a point the parties or their successors may not reopen the matter except by way of appeal.
Rescission
MEDICAL,USA: Act of voiding an insurance contract because of misrepresentation on the insurance application.
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An equitable remedy which declares the contract void from its inception, thus, restoring the parties to the position they would have held in the absence of such a contract.
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US: Termination of an insurance contract by the insurer on the grounds of material misstatement on the application for insurance. The action of rescission must take place within the contestable period or Time Limit on Certain Defenses but takes effect as of the date of issue of the policy, thus voiding the contract from its inception.