Under the general agency distribution system, a region in which no person other than the general agent is allowed to sell the insurance company’s products.
Tag: USA
Exclusivity
1. Sole right to render a service or benefit. The provider or group may provide certain services and does not have to share the right with other providers or groups. 2. Clause sometimes found in managed care contracts that prohibits contracting with other plans.
Exclusivity clause
Section in a contract that forbids physicians from contracting with more than one managed care plan (e.g., health maintenance organization, preferred provider organization).
Exculpatory statute
State law in community-property states that lets an insurance company pay proceeds of a life insurance policy in accordance with the terms of that policy without fear of double liability.