Definition and meaning of Nonoccupational Policy :

Nonoccupational Policy: Contract which insures a person against off-the-job accident or sickness. It does not cover disability resulting from injury or sickness covered by Workers' Compensation. Group accident and sickness policies are frequently non- occupational.

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

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Definition and meaning of Nonoccupational Policy :

Nonoccupational Policy: One that provides off-the-job coverage only; it does not cover loss resulting from accidents or sickness arising out of or in the course of employment or covered under any workers' compensation law.

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

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Definition and meaning of Nonparticipating Insurance :

Nonparticipating Insurance: Plan of insurance under which the policy-holder is not entitled to share in the dividend distribution of the company.

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

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Definition and meaning of Named Perils :

Named Perils: Coverage in a property policy that provides protection against loss from only the perils specifically listed in the policy rather than protection from physical loss. Examples of named perils are fire, windstorm, theft, smoke, etc.

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

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Definition and meaning of Negligence :

Negligence: Failure to use the care that a reasonable and prudent person would have used under the same or similar circumstances.

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

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Definition and meaning of Net Amount at Risk :

Net Amount at Risk:  The difference between a life insurance policy's death benefit and it's cash value amount.

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

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Definition and meaning of Net Premium :

Net Premium: The portion of the premium rate which is designed to cover benefits of the policy, but not expenses, contingencies, or profit. The term is also used to describe the portion of the premium remitted to the home office by an agent after deduction of the agent's commission.

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

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Definition and meaning of Net written premiums :

Net written premiums: premium income retained by insurance companies, directly or through reinsurance, after payments made for reinsurance.

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

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Definition and meaning of No-Fault :

No-Fault: A type of auto insurance mechanism whereby the right to sue another party for damages caused by negligence is limited and, in exchange, expanded first party benefits are offered.

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

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Definition and meaning of No-fault Automobile Insurance :

No-fault Automobile Insurance: A form of insurance by which a person's financial losses resulting from an automobile accident are paid by his or her own insurer regardless of who was at fault.

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

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Definition and meaning of Nonprofit Insurers :

Nonprofit Insurers: Persons organized under special state laws to provide hospital, medical, or dental insurance on a nonprofit basis. The laws exempt them from certain types of taxes.

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

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Definition and meaning of NOC. Not Otherwise Classified :

NOC. Not Otherwise Classified: A term often found in the classification section of Liability or Workers Compensation rating manuals. If a listing is followed by an NOC, it means to use this classification if an insured cannot be classified more specifically. (LA,WC)

(Source: InsWeb)

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Definition and meaning of Nuclear Energy Contamination :

Nuclear Energy Contamination: See Mutual Atomic Energy Reinsurance Pool and Radioactive Contamination Insurance. (LA,PR)

(Source: InsWeb)

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Definition and meaning of Named Insured :

Named Insured:  Any person, firm or corporation designated by name as the insured person(s) in a policy. Others may be protected by policy definition even though their names aren't on the policy, such as other drivers operating (with consent) the named insured's covered auto.

(Source: CarInsurance.com )

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Definition and meaning of Non-Owned Auto :

Non-Owned Auto:  Any vehicle that is not owned, borrowed, or leased by the insured, and which is used primarily for a business purpose.

(Source: CarInsurance.com )

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Definition and meaning of National Health Insurance :

National Health Insurance:  Any system of socialized insurance benefits covering all or nearly all of the citizens of a country, established by its federal law, administered by its federal government, and supported or subsidized by taxation. (H)

(Source: InsWeb)

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Definition and meaning of Newspaper Policy. :

Newspaper Policy.:  A form of Limited Health Insurance often sold by newspapers to build or conserve circulation. (H)

(Source: InsWeb)

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Definition and meaning of Nonduplication of Benefits :

Nonduplication of Benefits:  A provision in some Health Insurance policies specifying that benefits will not be paid for amounts reimbursed by others. In Group Insurance, this is usually called coordination of benefits (COB). (H)

(Source: InsWeb)

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Definition and meaning of Non-Occupational Policy :

Non-Occupational Policy:  A policy or provision of a policy which excludes accidents occurring on the job, when such employment is covered by workers compensation. (H)

(Source: InsWeb)

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Definition and meaning of Nonparticipating Provider :

Nonparticipating Provider:  (1) A provider who has not signed a contract with a health plan. (2) A medical or health care provider who is not certified to participate in the Medicare program. (H)

(Source: InsWeb)

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Definition and meaning of Nurse Fees :

Nurse Fees:  A provision in a medical expense reimbursement policy calling for reimbursement for the fees of nurses other than those employed by the hospital. (H)

(Source: InsWeb)

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Definition and meaning of Nursing Home :

Nursing Home:  A licensed facility which provides general nursing care to those who are chronically ill or unable to take care of necessary daily living needs. May also be referred to as a Long Term Care facility. (H)

(Source: InsWeb)

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