Definition and meaning of Blue Cross :

Blue Cross:  Blue Cross plans are nonprofit hospital expense prepayment plans designed primarily to provide benefits for hospitalization coverage, with certain restrictions on the type of accommodations to be used. (H)

(Source: InsWeb)

Also see these pages: Blue Cross , Health Insurance, Health Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - B

Definition and meaning of Blue Plan :

Blue Plan:  A generic designation for those companies, usually writing a service rather than a reimbursement contract, who are authorized to use the designation Blue Cross or Blue Shield and the insignia of either. (H)

(Source: InsWeb)

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Definition and meaning of Blue Shield :

Blue Shield:  Blue Shield plans are prepayment plans offered by voluntary nonprofit organizations covering medical and surgical expenses. (H)

(Source: InsWeb)

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Definition and meaning of Board Certified :

Board Certified:  A physician or other professional who has passed an examination which certifies him or her as a specialist in a particular medical area. (H)

(Source: InsWeb)

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Definition and meaning of Board Eligible :

Board Eligible:  A professional person or physician who is eligible to take a specialty examination. (H)

(Source: InsWeb)

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Definition and meaning of Business Overhead Expense :

Business Overhead Expense:  A disability income policy which indemnifies the business for certain overhead expenses incurred when the business owner is totally disabled. (H)

(Source: InsWeb)

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Definition and meaning of Business income exposure :

Business income exposure: lost profits resulting from damage to property that halts the business

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Business income exposure , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - B

Definition and meaning of Business interruption exposure :

Business interruption exposure: see Business income exposure

(Source: The Haskayne School of Business at the University of Calgary )

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Definition and meaning of Buy-Sell Agreement :

Buy-Sell Agreement: An agreement made by the owners of a business to purchase the share of a disabled or deceased owner. The value of each owner's share of the business and the exact terms of the buying-and-selling process are established before death or the beginning of disability.

(Source: The Haskayne School of Business at the University of Calgary )

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Definition and meaning of Bond :

Bond: A certificate issued by a government or corporation as evidence of a debt. The issuer of the bond promises to pay the bondholder a specified amount of interest for a specified period and to repay the loan on the expiration (maturity) date.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Bond , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - B

Definition and meaning of Book of Business :

Book of Business: the number, size and type of accounts (policyholders) that an agent "owns."

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Book of Business , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - B

Definition and meaning of Bordereau :

Bordereau: An itemized statement of transactions, today resembling a spreadsheet format, commonly used in reinsurance.

(Source: The Haskayne School of Business at the University of Calgary )

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Definition and meaning of Break in Service :

Break in Service: A calendar year, plan year or other consecutive 12-month period designated by the plan during which a plan participant does not complete more than 500 hours of service.

(Source: The Haskayne School of Business at the University of Calgary )

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Definition and meaning of Broad Form :

Broad Form: see Dwelling Property 2; Homeowners 2 Policy.

(Source: The Haskayne School of Business at the University of Calgary )

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Definition and meaning of Blackout Period :

Blackout Period: The period during which Social Security benefits are not paid to a surviving spouse- between the time the youngest child reaches age sixteen and the widow's sixtieth birthday.

(Source: The Haskayne School of Business at the University of Calgary )

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Definition and meaning of Blue Cross :

Blue Cross: An independent, nonprofit membership corporation providing protection on a service basis against the cost of hospital care in a limited geographical area.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Blue Cross , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - B

Definition and meaning of Blue Shield :

Blue Shield: An independent, non-profit membership corporation providing protection on a service basis against the cost of surgical and medical care in a limited geographical area.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Blue Shield , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - B

Definition and meaning of Bailees Customers Policy :

Bailees Customers Policy: Policy that covers the loss or damage to property of customers regardless of a bailee's legal liability.

(Source: The Haskayne School of Business at the University of Calgary )

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Definition and meaning of Basis :

Basis: An amount attributed to an asset for income tax purposes; used to determine gain or loss on sale or transfer; used to determine the value of a gift.

(Source: The Haskayne School of Business at the University of Calgary )

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Definition and meaning of Bodily Injury Liability :

Bodily Injury Liability: Legal liability for causing physical injury or death to another.

(Source: InsWeb)

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Definition and meaning of Back years :

See prior years.

(Source Lloyd's )

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Definition and meaning of broker :

broker: A sales and service representative who handles insurance for clients, generally selling insurance of various kinds and for several companies. Brokers resemble agents, except for the fact that, in a legal sense, brokers represent the party seeking insurance rather than the insurance company. See Agent, Producer.

(Source: Bank of America )

Also see these pages: broker , Insurance, Insurance Sitemap, Insurance Dictionary - B