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Generalists

Physicians who have received training that encompasses several branches of medicine including internal medicine, preventive medicine, pediatrics, surgery, psychiatry, and obstetrics and gynecology. These doctors provide comprehensive medical care, problem solve, and coordinate total health care delivery to all members of a family regardless of sex or age.

Generally Accepted Accounting Principles (GAAP)

General guidelines and detailed procedures of customary accounting practice that are established and interpreted by the Financial Accounting Standards Board (FASB). FASB was formed in 1973. These accounting principles are used by business firms outside of the insurance industry, as well as by health and life insurance companies.
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These principles have substantial authoritative support for use in the insurance business. They are intended to produce financial results consistent with those of other industries and to assure consistency in financial reporting.

Generic drugs

Prescription drugs that have the same active ingredient formula as a brand name drug. Generic drugs usually cost less than brand name drugs and are rated by the Food and Drug Administration (FDA) to be as safe and effective as brand name drugs. Also called generic equivalent .

Genetic and Insurance Committee (GAIC)

Set up by the government to develop criteria for evaluation of the scientific, medical and actuarial evidence available to support the use of genetic tests in insurance risk assessment and to evaluate those tests against these criteria. Members come from the insurance industry and clinical and genetic patients groups. The insurance industry has agreed a voluntary code with GAIC whose aim is to ensure that individuals do not avoid tests because they fear a result harmful to their life cover applications. See ABI GENETIC TESTING CODE OF PRACTICE.