Insurance that covers the insured in case of damage to his or her vehicle as the result of a collision.
Tag: RAW
Collusion
A secret agreement between persons to defraud another, e.g., an insured driver of an automobile and his passenger may misrepresent the facts of an accident in order to have monies paid to the passenger under the insured’s automobile insurance policy.
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An agreement between two or more person to defraud another of his rights by the forms of law, or to obtain an object forbidden by law. For example, if the insured gives incorrect statements of the facts of an accident in order to permit a guest in his car to recover damages, he is guilty of collusion and thus would void the coverage afforded by the Policy.
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UK: Deception perpetrated by two or more parties. Theft insurers exclude theft by collusion when a member of staff is involved. Such a theft has little to do with the security of the premises. Cover may be available under fidelity guarantee insurance.
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MEDICAL,USA: In Medicare fraud, to participate in a scheme with others that might result in higher costs or charges to the Medicare program such as conspiracy between provider and beneficiary or between a supplier and a physician.
Collusion Clause
A clause in a Marine Hull policy covering the ship owner in respect of his liability (or frequently three quarters of his liability) for claims by third parties arising out of collisions.
Colon
1. One of the punctuation symbols used in the diagnostic code book titled International Classification of Diseases, Ninth Revision, Clinical Modification (ICD-9-CM) . It is used in the Tabular List section of the code book after an incomplete term that needs one or more of the essential modifiers that follow to make it assignable to a given category. 2. Portion of the intestines (large) extending from the cecum to the rectum.
Color of the Vehicle for Motor
Though, not yet prevalent in India, the color of the vehicle is also important for rating purposes, as international studies have found that black, red or yellow painted cars are more prone to accidents, while white cars are more prone to thefts.
Colorectal cancer screening
Various medical procedures or tests to identify disorders or early signs of cancer of the gastrointestinal tract such as fecal occult blood test, sigmoidoscopy, colonoscopy, or barium enema.
Combi
An aircraft with pallet or container capacity on its main deck as well as in its belly holds.
Combination
(i) Applied to a Company or Agent handling both industrial and life Insurance. (ii) Increasing the number of exposure units, thus, reducing the risk.
Combination agency (Life Insurance)
An agency that sells both life insurance and industrial life insurance.
Combination Agent
One who sells both ordinary and industrial life and health business. The combination agent, like an industrial agent, is assigned to clients in a specific territory.