a clause used in reinsurance contracts which is intended to protect the relative value of cover from inception, thus taking into account the effects of inflation on claims (also known as index clause).
Insurance Encyclopedia
Stability clause/index clause
Clause that adjusts the retention and limit provisions of an excess of loss reinsurance in accordance with the fluctuations of a published wage or price index. The clause apportions the effect of inflation proportionately between the parties. protects the reinsurer who, on the basis of unadjusted retention, would suffer the full effects of inflation. The severe inflation clause is a variant that invokes the index only if inflation exceeds an agreed level, e.g. 20 per cent.
Stabilization
Act of remaining stable and no deterioration of an emergency medical condition is likely to occur within reasonable medical probability.
Stacking
1. Situation in which an insurance policy covers two scheduled items of real or personal property and the coverage should be twice the stated limit in the policy. 2. In a retirement plan, when no effort is made to put together benefits from a public and a private pension plan—the plans are “stacked.”
Stacking of limits
UK: Applying the limits of more than one losses-occurring policy to an occurrence, loss or claim. It may occur when the same long-tail injury is deemed to have occurred in each of a number of years causing the limits of those periods to be aggregated to produce a gher limit than the insurer intended. Insurers use claims series clauses in order to attempt to trigger all claims from one original cause’ into a single year.
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Applying the limits of more than one policy to an occurrence, loss or claim. In some cases, courts have required a stacking of limits when multiple policies, or multiple policy periods, cover an occurrence.
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The application of the limits of one or more insurance policies to a claim or loss.
Stacking of limits (Legal Terminology)
A legal term referring to using the limits of multiple policies to one claim or event. This can be done if more than one policy covers a loss.
Staff Adjuster
An insurance company employee who settles claims for losses on its behalf.
Staff model
Type of health maintenance organization (HMO) in which the health plan hires physicians, nurses, and other medical professionals directly and pays them a salary. They provide services at plan-owned facilities. Patients pay low premiums and have few out-of-pocket expenses but must choose doctors within the plan. Also see group model health maintenance organization (HMO) .
Staff model HMO (Health Insurance)
A type of HMO wherein all premiums are paid directly to the HMO, which hires physicians. The physicians are then paid a salary and predetermined bonuses.
Staff-assisted dialysis
Kidney dialysis performed by the staff of the renal dialysis center or facility.