A legal doctrine that makes the Insurer responsible for losses caused by perils covered under the contract and other perils that the covered perils may set in motion. For example, a Fire Policy covers Fire, smoke and water damage caused by a Fire.
Tag: RAW
Chairman’s Strategy Group 2002
The committee that recommended the replacement of the regulatory and market boards at Lloyd’s by a single franchise board. Lloyd’s acts as franchisor and the managing agents as franchisees. Another key outcome was the replacement of the three-year accounting system with GAAP accounting.
CHAMPUS maximum allowable charge (CMAC)
Highest amount TRICARE will pay for a medical service.
CHAMPUS National Pricing System
Database that allows retrieval of pricing information for a particular medical service or procedure within a specific geographic area.
CHAMPVA claim form
VA Form 10-7959A that must be completed and submitted by the provider to request payment for a medical service or procedure rendered to a beneficiary from the CHAMPVA program.
CHAMPVA identification card
Insurance card issued to dependents of military veterans who are beneficiaries of the CHAMPVA government program. Essential information is included on front and back sides of the card. CHAMPVA identification card.
Chance
The probability or likelihood that one event will occur.
Chance of Risk
The long run relative frequency of a loss, and is best expressed as the probable number and severity of losses out of a given amount of exposures, using the probable number of losses times its average severity as the numerator and the total value exposed to loss as the denominator when expressed as a fraction.
Chancery bonds
A court bond guaranteeing the performance of receivers and managers appointed by the Chancery Division of the High Court. The receivers and managers may deal with the preservation of property or collection revenue arising from property. Receivership may arise: pending litigation; during the minority of an infant; to prevent dissipation of assets by persons having immediate or partial interest in it, or to whom it is entrusted by law. The Chancery division fixes the amount of the guarantee and the remuneration of the receiver.
Change agent
Individual whose efforts assist change in a group or organization.