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Council of Lloyd’s

The Council of Lloyd’s was constituted as the governing body of Lloyd’s by Lloyd’s Act 1982. It currently comprises 6 external members, 6 working members and 6 nominated members and is empowered to make byelaws governing the conduct of insurance business at Lloyd’s. Since 2003 the Council has acted by Lloyd’s Franchise Board as regards the development and direction of the implementation of the commercial policy of the Lloyd’s franchise and the direction and regulation of the business of insurance of Lloyd’s.
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The Council of Lloyd’s discharges some of its functions directly by making decisions and issuing resolutions, requirements, rules and byelaws. Other decisions are delegated to committees of the Council and the members of the Executive Committee, in accordance with their respective terms of reference.

Counseling

Discussion between the physician and a patient, family, or both concerning the diagnosis, recommended studies or tests, treatment options, risks, benefits of treatment, patient and family education, and so on. See also E/M counseling and psychiatric counseling.

Counselor

Person who assists the patient by obtaining information and identifying the amount that health insurance pays for a specific medical service and determines the amount the patient is responsible for paying. Also known as patient account representative or patient service representative .

Counter guarantee/indemnity

Guarantee or indemnity obtained by a surety from a bonded party. If the insurer as surety pays out under say a performance bond, redress will be sought from the bonded party or any other party providing a guarantee on his behalf. The counter guarantee is obtained even though the surety has a common law right of redress against the bonded party.