Home > Industry/Domain > Insurance
Insurance
Insurance is a promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Examples include car insurance, health insurance, disability insurance, life insurance, and business insurance.
8Categories 32802Terms
Add a new termContributors in Insurance
Insurance > Health insurance 
observation unit
Health care; Managed care
A hospital department that cares for inpatients for less than 23 hr and 59 minutes.
channeling
Health care; Managed care
A hospital insurance policy that provides malpractice liability insurance to nonemployed physicians of a hospital or health care facility.
designated transplant facility
Health care; Managed care
A hospital or alternative facility that has entered an agreement either with or on behalf of a health plan to provide health services for covered transplants.
general care floor
Health care; Managed care
A hospital or health care facility floor not designated as a critical, cardiac, or step-down care floor.
chain facility
Health care; Managed care
A hospital or long-term care facility owned by a parent organization that owns other such facilities.
proprietary hospital
Health care; Managed care
A hospital or other facility that provides medical services for a profit.
accredited hospital
Health care; Managed care
A hospital or similar entity whose medical quality standards are accepted by the Joint Commission on Accreditation of Healthcare Organizations.
Sub-categories
- Car insurance (39)
- Commercial insurance (92)
- General insurance (136)
- Health insurance (5560)
- Home insurance (17)
- Life insurance (3867)
- Medicare & Medicaid (23018)
- Travel insurance (7)