A priority cession is Reinsurance which is ceded before Ceding to the Company’s normal treaties.
Tag: RAW
Priority liabilities
Priority to pay some liabilities, e.g. guaranteed minimum payments, before others when a pension scheme is wound up. If the assets are insufficient to meet all liabilities the priority rule applies. The trustees must follow this scheme rule in deciding the order in which they settle scheme liabilities.
Priority of notice regulates the priority of claim
See: POLICIES OF ASSURANCE ACT 1867.
Privacy
1. Confidentiality. 2. Free from observation such as closed doors, drawn curtains around a hospital bed. 3. Under the Health Insurance Portability and Accountability Act (HIPAA), use and disclosure of protected health information is permissible for treatment, payment, or health care operations (TPO).
Privacy Act of 1974
Federal legislation that became effective on September 27, 1975, and established an individual’s right to review his or her medical records maintained by a federal medical care facility such as a VA medical center or U.S. Public Health Service facility and to contest inaccuracies in such records. This act also began to limit government use of the Social Security number. Some federal agencies or federally funded institutions may be regulated by both the Privacy Act and the HIPAA standards. Such entities are required to comply with both sets of regulations. Although the HIPAA standards generally provide more restrictive regulations, entities are advised to revise their policies and procedures to comply with both the HIPAA standards and the Privacy Act.
Privacy notice
See: Notice of Privacy Practices (NPP).
privacy officer (PO)
Under the Health Insurance Portability and Accountability Act (HIPAA), an individual designated to help the provider remain in compliance by setting policies and procedures (P & P) and by training and managing the staff regarding HIPAA and patient rights. The PO is usually the contact person for questions and complaints. Also known as privacy official (PO).
Privacy official
See: privacy officer (PO).
Private carrier (Property Insurance)
The opposite of a common carrier. A transportation company that is contractually obligated to only transport goods for certain customers.
Private Cars for Motor
Vehicles used solely for social, domestic and pleasure purposes and business or professional purposes, but not for carriage of goods other than samples. Three wheeled cars for private purpose are also covered.