CII qualification that gives financial advisers a broad understanding of the core disciplines needed to give high quality financial advice. The wide subject choice includes two FSAapproved subjects for regulatory compliance purposes. Pensions (G60) is an approved qualification to be held by a nominated person in a firm that carries out pensions transfer and opt-out business. Investment portfolio management (G70) is a recognised examination for fund management and certain other investment advice activities.
Tag: RAW
advanced registered nurse practitioner (ARNP)
Registered nurse who has advanced education and clinical training in a health care specialty area.
Advanced underwriting department
Insurance company home office division that is responsible for giving technical and sales help to insurance agents about estate planning and business insurance. Also known as estate planning department.
Advancing Line
Moving a line of hose by hand toward a fire or position to be covered.
Adventure
A business venture. The sending to sea of ships or goods.
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UK: See MARINE ADVENTURE.
Adverse benefit determination (ABD)
Denied or incorrectly paid health benefit under HMO, PPO, or POS managed care plans that follow federal regulations mandated under the Employee Retirement Income Security Act (ERISA).
Adverse development loss cover
A retrospective financial reinsurance providing cover for past losses that exceed loss reserves and loss portfolio transfer contracts on losses that are incurred but not reported (INBR) and the development on reported losses (IBNER). The premium reflects the net present value of the expected future ceded loss payment and a risk premium in respect of underwriting, timing and investments. The main benefit is that cover facilitates mergers and takeovers by removing the risk of adverse loss developments for the acquiring company.
Adverse effect
Unfavorable, detrimental, or pathologic reaction to a drug that occurs when appropriate doses are given to humans for prophylaxis (prevention of disease), diagnosis, or therapy.
Adverse financial selection
When a policyholder surrenders the policy for cash due to financial need, or because the money can be better invested elsewhere.
Adverse Possession
A possession inconsistent with the right of the true owner.