A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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Bordereaux

Lists of premiums and claims prepared monthly or quarterly by cedants or coverholders for reinsurers or underwriters to advise them of risks accepted and claims incurred under treaties or binding authorities. Bordereaux are not always required in reinsurance treaties.
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A list of premiums payable and claims paid or due which is prepared by a coverholder for a managing agent or by a reassured for its reinsurer. Bordereaux are commonly produced on a monthly or quarterly basis. They breakdown block premium payments that are made to underwriters and detail claim payments made on behalf of or due from underwriters.

Boren Amendment

From 1980 to 1997, federal law directly linked Medicaid nursing home rates with minimum federal and state quality of care standards. As part of the Omnibus Reconciliation Act of 1980, the “Boren amendment” required that Medicaid nursing home rates be “reasonable and adequate to meet the costs which must be incurred by efficiently and economically operated facilities in order to provide care and services in conformity with applicable state and federal laws, regulations, and quality and safety standards” (Section 1902[a][13] of the Social Security Act). State Medicaid officials overwhelmingly came to oppose the amendment as impossible to operationalize, believing that they were forced by the courts to spend too much on nursing homes at the expense of other services. The federal Balanced Budget Act of 1997 repealed the Boren amendment, giving states far greater freedom in setting nursing home payment rates.

Borrowed employees/servants

Employees who are lent or hired out by their general employer to other employers for specific purposes. There is a presumption that the general employer will remain liable for the torts of that servant while hired or lent to the special employer unless the general employer can show that control has passed to the special employer (Mersey Docks & Harbour Board v. Coggins & Griffiths (1947). Condition 8 of the Contractors Plant-hire Association’s Conditions (CPA) makes the hirer responsible for all claims from the operation of plant by the driver/operator who is supplied with it.

Boston plan

This is a plan under which insurers agree that they will not reject property coverage on residential buildings in a run-down part of town. Instead, they will accept the coverage until there has been an inspection and the owner has had an opportunity to correct any faults. Boston was the first city to originate such a plan, and many other cities have followed, including New York, Oakland, Cleveland, and Buffalo.