Institutions such as insurance companies, pension funds, unit trusts, investment trusts and banks who invest on behalf of their policyholders and private investors. They provide an indirect way for investment by individuals in a range of securities including equities.
Tag: RAW
Institutional property
Schools, churches, and many nonprofit operations are covered under special policies more cheaply if they qualify.
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Property eligible for special treatment under package policies. Essentially these are properties occupied by sanitariums and educational, religious, charitable, government and nonprofit organizations.
Institutional property (Property Insurance)
A type of property eligible for special treatment within package policies. This can include religious or charitable organizations, hospitals, and educational institutions.
Institutional providers
Hospitals, ambulatory surgical centers, nursing homes, day care centers, and alcohol and substance abuse centers that have a contractual agreement with an insurance plan to provide health care services to members of managed care plans and eligible Medicare beneficiaries. Institutional providers bill the insurance carrier or fiscal intermediary directly.
institutional review boards (IRBs)
Advisory boards composed of physicians, scientific professors, ethicists, and concerned nonscientists that have been created by federal legislation to oversee research on human subjects and to protect those subjects from research abuses.
Instructional notes
Detailed descriptions about diagnostic code selection for the insurance biller that appear at the beginning of a heading, in parentheses before or after a code, or in parentheses as part of the code’s description. Also see inclusion note .
instrumental activities of daily living (IADLs)
Physical activities that are necessary for living independently in the community such as cooking meals, shopping for groceries, managing money, taking medications, using the telephone, doing laundry, and housekeeping. Compare with activities of daily living (ADLs) .
Insulation
A hearting retarding material applied in outside walls, top floor ceiling, or in roof to prevent passage of heat or cold in or out of building.
Insur-sure Services Ltd
Formed in 2001 to unify the back office support for the London Insurance Market. It is owned by Lloyd’s (25 per cent), the International Underwriting Association (25 per cent) and by Xchanging (50 per cent). The company has combined the separate processing and settlement operations of Lloyd’s Policy Signing Office and the IUA’s London Processing Centre into a single service for syndicates, insurance companies and brokers. The company also has an e-business infrastructure to enable market participants to continue to compete effectively globally. Xchanging is a company owned by General Atlantic Partners LLC, a leading investor in IT, Internet and Internetenabled business.
Insurability
A measure of whether a person or property is an acceptable risk. An applicant who has met the standards set by an insurance company is deemed insurable.
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US: Acceptability to the company of an applicant for insurance.
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Acceptability to the insurer of an applicant for insurance. Able to be insured against. In principle one may insure against the financial consequences of any event where it is a matter of fortuity whether the event will occur or when it will occur. On cannot insure against the consequences of one’s deliberate acts or where insurance would be against public policy. In practice a risk may be uninsurable where (a) the prospect of widespread loss is too great for the insurer to accept, e.g., war damage to property on land; (b) the risk is entrepreneurial, e.g., the risk of a change of fashion rendering stock unsalable; and (c) the risk is too great or unquantifiable.
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MEDICAL,USA: Physical, moral, occupational, and financial characteristics of a risk that are evaluated by an insurance company to determine whether to insure the entity.
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UK,REFERENCE See: Insurable Risk.