1. Under the FSA’s Conduct of Business rule 6.7, it is the period allowed to a customer following his receipt of the statutory notice during which he may cancel his investment agreement. The period allowed in the case of life policies, pension contracts, appropriate personal pensions and other cancellable investment agreements varies between 14 and 30 days (www.fsa.gov.uk). 2. Periods of reflection are also allowed under the Consumer Protection (Distance Selling) Regulations, and this has implications for those selling insurance over the Internet and by other distance methods. 3. The cancellation rights of retail customers buying general insurance products are contained in Chapter 6 of the FSA’s Insurance: Conduct of Business Sourcebook. ICOB allows 30 days for pure protection contracts and 14 days for general insurance.
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A period during which one has agreed to enter into a transaction such as a health insurance agreement may withdraw without penalty.
Tag: RAW
Cooling season/summer season
A weather risk term covering May to September. The contract period for a weather derivative is generally based on one season or a full year.
Cooperating parties
Associations that maintain and update the International Classification of Diseases, Ninth Revision, Clinical Modification (ICD-9-CM). They are the American Hospital Association (AHA), American Health Information Management Association (AHIMA), Centers for Medicare and Medicaid Services (CMS), and National Center for Health Statistics (NCHS).
Cooperating provider
See: contract provider.
Cooperative care
Term used when a patient is seen by a civilian physician or hospital for services cost-shared by TRICARE.
Cooperative insurance
A policy issued by an association; for example, a trade union.
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Insurance issued by a mutual association such as a fraternal society, an employee association, an industrial association or a trade union.
Cooperative Insurer
Insurer issued by a mutual association such as a fraternal society, an employee association, an individual association or a trade union.
Cooperative payment
See: copayment (copay).
Cooperative Society
A society owned by the consumers (or the producers) of a product.
coordinated care (CC) plans
Prepaid health care plans that meet federal legal standards for managed care plans (e.g., health maintenance organizations, provider-sponsored organizations, preferred provider organizations, or other types of network plans [except network medical savings account plans]). They incorporate cost containment and emphasize preventive care to members of the plans. Also referred to as managed care plans.