another term for chain ladder.
Tag: RAW
Linked assets
Long-term business assets by reference to which linked benefits are determined. These assets are separated from the other long-term business assets of the company.
Linked benefit
The value of the rights conferred under a life policy or collective investment scheme by reference to the value of specific assets or fluctuations in an index of the value of such assets, e.g. unit trust holdings.
Linked qualifying service
Linking together of a member’s pension benefit and period service in one scheme with the benefits the member earns in a new scheme. The previous benefits are transferred. The qualifying service in the two schemes is linked.
Linked-life insurance (or life-linked)
Investment schemes offered by life insurers in which premiums paid by the policyholders as investors are used partly to purchase life insurance and partly to purchase units in a unit trust or unitised fund. The proceeds or benefits payable will be the greater of the guaranteed sum insured or the value of the units accrued. See UNIT-LINKED LIFE INSURANCE.
Linking codes
For establishing medical necessity, software computer edits check procedure and HCPCS Level II codes that are connected (linked) to ICD-9-CM diagnostic codes submitted on insurance claims for payment. These must be supported by the documentation in the patient’s medical record.
Linton yield method
See: rate of return method .
Liquid Bulk Carriers
Tanker’s constructed and fitted out to carry bulk liquids (e.g. crude oil).
Liquidated and ascertained damages
Damages specified in a contract representing a genuine pre-estimate of compensation due for an anticipated breach of contract, (e.g. delay in completion). They are usually expressed in agreed sums per week. Liquidated damages are only levied when reasons for delay do not entitle the party concerned to an extension of time. Liability insurers specifically exclude any liability to pay liquidated damages or penalties.
Liquidated damages
MEDICAL,USA: Amount stipulated in a contract that estimates a value to be recovered by an individual if the other party breaches. The sum is a measure of damages for a breach, whether it exceeds or falls short of the actual damages.
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Damages that are agreed to either by the court or by the parties to a suit or action.
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Specific sum of money which has been expressly stipulated by the parties to a contract as the amount of damages to be recovered by any party for a breach of the agreement by the other(s).