The period of cover given under a Marine cargo policy which attaches as the goods are lifted from the quay at the port of loading and terminates when they are freed from the ship’s tackle or landed from craft at the port of destination
Tag: RAW
Queen’s Counsel Clause
A professional indemnity clause whereby the insurer agrees to pay any claim without requiring the insured to contest it unless a QC advises that it can probably be successfully defended.
Query
Request from an insurance company for additional information about a patient.
Question of liability admissible for Disputes
Disputes relating to question liability are to be settled through litigation. for example, if the Insurers contend that the loss is not payable because it is not covered under the Policy the matter has to be decided by a court of law. Against, if the Insurers refuse to pay the claim on the ground that the Policy is void because it was obtained through fraudulent non-disclosure of material facts (breach of legal duty of ‘utmost good faith’) the issue has to be resolved through litigation.
Questionable covered procedures
Under the Medicare program, medical procedures that may be a benefit depending on the medical situation. When a procedure listed in Medicare’s Outpatient Code Editor is billed, the insurance company must conduct a medical review of the claim to make a decision on payment. Formerly called development needed procedures .
Qui Facet per alium Facet per se
He who acts through another is deemed to act in person.
Qui tam action
Action to recover a penalty, brought by an informer in a situation in which one portion of the recovery goes to the informer and the other portion to the state or government. Also see qui tam provision and whistleblower .
Qui tam provision
Federal statute of the False Claims Act that allows any person having knowledge of a false claim against the government to bring an action against the suspected wrongdoer on behalf of the U.S. government. A person who files a qui tam suit on behalf of the government is known as a “relator” and may share a percentage of the recovery realized from a successful action. Also referred to as “whistleblower.” Also see whistleblower .
Quick Assets
Assets that are quickly convertible into cash.
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Assets that can be quickly and easily converted into cash.
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Highly liquid assets, consisting of cash, marketable securities, and net receivables.
Quick Liquidity Ratio
Quick assets divided by net liabilities plus ceded reinsurance balances payable. Quick assets are defined as the sum of cash, unaffiliated short-term investments, unaffiliated bonds maturing within one year, government bonds maturing within five years and 80% of the unaffiliated common stocks. These assets can be quickly converted into cash in the case of an emergency.