The amount of a risk to be reinsured after deducting the amount the ceding company is keeping in its own account.
Insurance Encyclopedia
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.
Remand
What happens when an appellate court sends a case back to the lower courts. When an appellate court finds an issue with the decision of a lower court, the appellate court may send the case back to the lower courts with instructions to consider or not consider certain evidence, or with instructions to make a decision consistent with the appellate court’s findings. When a case is remanded, it isn’t the end of the matter. The lower court must adjudicate the case according to the instructions or orders of the higher court. The matter is resolved once a final ruling has been issued that is either not appealed nor granted an appeal.
Remand (Legal Terminology)
A term most often used in the court of appeals. This term refers to the appellate court’s decision to return the case to the court it was originally heard by, where further action will then be determined.
Remediation
Cleaning-up and restoring land that has become contaminated. Costs can be recovered under first party insurances and liability to third parties may be covered under environmental impairment liability. Local authorities can compel owners/occupiers to remediate contaminated land.
remittance advice (RA)
Document detailing services billed and describing payment determination (paid or denied) for one or more beneficiaries issued to providers of managed care or federal programs (Medicare or Medicaid) for a specific payment period; formerly known as Explanation of Medicare Benefits (EOMB) . Sometimes a payment check is attached to the form. Also known in some programs as an explanation of benefits, remittance notice, or standard paper remittance (SPR) .
remittance advice details (RAD)
Document that accompanies all Medi-Cal payment vouchers (checks) sent to providers of medical services.
Remittitur (Legal Terminology)
The process undertaken by the court to reduce an overly large jury verdict.
Remote cause
A non-dominant cause linked to a chain of events that culminates in a loss. The remote cause facilitates the loss rather than causes it. In Marsden v. City & County Assurance Co. (1865) a fire broke out and a mob assembled and broke plate glass windows in neighbouring premises with view to looting. The action of the mob, not the fire, was the proximate cause.