The IAIS’s Common Framework for the Supervision of Internationally Active Insurance Groups is intended to provide supervisors with a supervisory framework for internationally active insurance groups.
Tag: RAW
Comma
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.
Commencement of coverage
Date that insurance coverage begins.
Comment
Public review and remarks on the merits or appropriateness of proposed or potential federal regulations provided in response to a notice of proposed rulemaking (NPRM), a notice of intent (NOI), or other federal regulatory notice. Anyone may submit comments and suggestions during this time. Also called comment period.
Commercial
The opposite of personal; of a business nature, usually mercantile or manufacturing.
Commercial all risks insurance
See: industrial all risks insurance.
Commercial and Insurable Risk
The principal distinction is that while some risks are amenable to insurance e.g., state and pure risks – others are not. Commercial Risks are normally associated with speculative or dynamic risks and are usually regarded as being uninsurable.
Commercial auto insurance coverage forms
The entire portfolio of coverage forms that furnish auto coverage for any type of commercial entity. It includes the business auto, business auto physical damage, garage, motor carrier, and truckers coverage forms.
Commercial blanket bond
A bond that covers the named insured against employee dishonesty. A single coverage amount applies to any one loss, regardless of the number of employees involved.
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Blanket coverage of employees supplied by the employer. Under this type of coverage, the maximum loss limit is applied to any loss regardless of how many people were involved in the loss.
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This form provides a single amount of coverage for any one loss caused by one or more employees. For example, the bond covers embezzlement if it is committed by one employee or several working together. It differs from the blanket position bond in that there is only one limit regardless of the number of employees involved. If the coverage amount is $50,000 and four employees conspire to embezzle $100,000 the company is obligated only to pay $50,000.
Commercial carriers
Private for-profit insurance companies that offer individual and group health insurance policies.