These investments represent total unaffiliated investments as reported in the exhibit of admitted assets. It is cash, bonds, stocks, mortgages, real estate and accrued interest, excluding investment in affiliates and real estate properties occupied by the company.
Insurance Encyclopedia
Unaligned member
Lloyd’s syndicate member who has no connection with the controller of the managing agent of that syndicate.
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A member that is either (a) not affiliated to the managing agent of a particular syndicate; or (b) not affiliated to any managing agent.
Unallocated assets
Pension scheme assets that have not yet been used to provide pension benefits.
Unallocated benefit
A policy provision providing reimbursement up to a maximum amount for the costs of extra hospital services but not specifying the exact amount to be paid for each charge.
Unallocated benefit (Health Insurance)
A benefit that does not have a corresponding schedule of benefits, which repays certain expenses up to a stated limit.
Unallocated benefits
Insurance benefits in which payment is made up to a maximum amount but does not list a specific dollar amount for each service provided.
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A reimbursement provision, usually for Mediclaim policies and such other hospitalization policies which does not specify how much will be paid for each type of treatment, examination, tests, nursing charges, operation theatre charges, operation theatre charges, dressing, medicines or the like but only sets a maximum which will be paid for all such treatments.
Unallocated Claim (or Loss) Expenses
Expenses of loss adjustment that cannot be charged specifically to any claim. Examples would be Claim Department salaries and office overhead.
Unallocated claim or loss expense
Expenses incurred by the insurer that cannot legitimately be charged to one specific claim, such as the costs of operating an insurer’s office.
Unallocated funding
System of funding a retirement plan in which funds are put into a retirement plan but are not set aside to purchase retirement benefits. When a participant retires, the funding agency may either purchase an annuity or pay benefits from the fund. The funding agency does not make contract promises on specific benefit amounts.
Unallocated funds (Pensions)
Plan funds that are pooled together to use for the benefit of all the plan’s participants.