This refers to a situation where one carrier replaces one or more carriers.
Tag: RAW
Carrier replacement (CR)
One health insurance company replaces one or more other health insurance carriers for a group client. This process allows merging and combining the experience and risk of the group.
Carrier-direct system
Direct electronic transmission of insurance claims by the physician to the insurance company.
Carry Over Provision
In major medical policies, allowing an insured who has submitted no claims during the year to apply any medical expenses incurred in the last three months of the year towards the new calendar year’s deductible.
Carry-over provision
Provision in some medical expense policies in which expenses incurred during the last 3 months of a benefit period or calendar year are used to satisfy the current benefit period’s deductible and may also be used to satisfy any or all of the following benefit period’s (or next year’s) deductible.
Carrying Charges
Premium for Insurance on property would be a recurring current expense and in accounting would be termed “carrying charges.” Expenses such as taxes, Insurance, interest or mortgage are carrying charges.
Carrying out contracts of insurance
The regulated activity specified in art. 10(2) of the Regulated Activity Order (Effecting and Carrying out Insurance Contracts), of carrying out insurance contracts of insurance as a principal.
Carryover line
Format used when a complete entry does not fit on one line and then drops down to the next line.
Carryover provision
A multiyear rating device found in some reinsurance agreements that provides that a loss to reinsurers in a given time period may be applied to the results of a previous period (loss carryback) or may be applied to a future period (loss carryforward).
Cartel
Cartel is an association of several independent national or international business organizations that regulates competition by controlling the prices, the production or the marketing of a product or an industry.