Provision in an insurance policy that provides that the insurance company, in the event of loss, will pay the selling price of the completed merchandise instead of cost replacement or its actual value.
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A provision that may be used in certain property insurances which obligates an insurer to pay the established market price of destroyed or damaged stock rather than its cost to the insured. This coverage is usually only available to manufacturers with finished products, not to wholesales or retailers.
Tag: MEDICAL
Marketing
1. All activities pertaining to the selling of insurance and its products to the consumer such as advertising and packaging. 2. Under the Health Insurance Portability and Accountability Act (HIPAA), make a communication about a product or service that encourages recipients of the communication to purchase or use the product or service. Marketing may also include an agreement between a covered entity and any other entity when the covered entity releases protected health information to the other entity in exchange for direct or indirect payment so that the other entity can market its product or service. Covered entities are not engaged in marketing when it exchanges information to persons about (a) participating providers and health plans in a network, the services offered by a provider, or the benefits covered by a medical plan; (b) the individual’s treatment; or (c) case management or care coordination for that individual, or directions or recommendations for alternative treatments, health care providers, or settings of care to that individual.
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The process of optimizing the use of the resources of an enterprise by seeking to identify and satisfy the needs of consumers, actual or potential in the best way for the enterprise.
Married
In a managed care contract, a hospital facility and a managed care plan that agree to work exclusively with each other. Also see unmarried .
MARS
See: Management and Administrative Reporting Subsystem (MARS) .