American Terms is a term used to differentiate between the conditions of American policies from those of other nations, principally England.
Tag: MARINE
A1
MARINE: This is the highest rating given by Lloyd’s Register to a ship for its seaworthiness. It is also known as “First Class.” The letter “A” indicates that the ship’s hull is strong and safe on the water, and the letter “1” indicates that its rigging and gear are in good condition.
USA MEDICAL: HCPCS Level II modifier for wound dressing that can be used with CPT or HCPCS Level II codes. The use of this modifier has an impact on Medicare payment.
Abandonment
The right of a insured to relinquish ownership of the insured property to the underwriter in exchange for a constructive total loss payment. The underwriter is not bound to accept abandonment but in doing so, he accepts responsibility for the property and liabilities attaching thereto, in addition to paying the full sum insured.
Marine: Mainly applies to marine insurance ( See Salvage ).
Property: It is expressly prohibited in most property polices.
Medical: To discontinue medical care by a provider without proper notice after accepting a patient.