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Term |
Definition |
Umbrella Libility Coverage |
Umbrella liability insurance provides coverage beyond what is considered the usual and standard coverage for liability. Corporations often purchase umbrella liability insurance as a safeguard against situations that would impede the ability of the company to continue its usual operations. |
Unassigned Claim |
A claim that is submitted for a service or supply by a provider who does not accept assignment. |
Underwriter |
A person trained in evaluating risks and determining rates and coverage for them. |
Unearned Premium |
The portion of an advance premium payment that has not yet been used for the coverage written. |
Usual, Customary and Reasonable (UCR) or Covered Expenses |
An amount customarily covered or charged for similar services and supplies which are considered medically necessary, recommended by a doctor, or required for treatment. |
