premiums go up
101Risk equalization — is a way of equalizing the risk profiles of insurance members in order to reduce premium differences to some predetermined extent.In competitive markets for individual health insurance, risk rated premiums are observed to differ across subgroups… …
102Loss ratio — in insurance is the ratio of total losses paid out in claims plus adjustment expenses divided by the total earned premiums. [Harvey Rubin, Dictionary of Insurance Terms, 4th Ed. Baron s Educational Series, 2000] If an insurance company, for… …
103life insurance — insurance providing for payment of a sum of money to a named beneficiary upon the death of the policyholder or to the policyholder if still living after reaching a specified age. [1800 10] * * * Method by which large groups of individuals… …
104Industrial Review — ▪ 1994 Introduction The period since 1990 was proving a difficult time for the older industrialized economies, which had suffered from prolonged recession at home, and also for the previously centrally planned economies of Eastern Europe… …
105actuary — ac·tu·ary / ak chə ˌwer ē, shə / n pl ar·ies: a person who calculates insurance and annuity premiums, reserves, and dividends Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. actuary …
106Public health insurance option — The public health insurance option is a proposed government run health insurance agency which competes with other health insurance companies. It is not the same as Publicly funded health care. Called the public insurance option or public option,… …
107National Health Insurance Scheme — Ghana is a country in sub Saharan Africa. It is the first country south of the Sahara to have gained independence. From 6 March 1957 when the British granted the country s independence, the country went through several stages in its political… …
108Accident-Year Statistics — A statistic used by insurance companies to gauge what percentage of the premiums received are being paid out in claims. Accident year statistics are a measure of the total losses against the total revenue (both deductibles and premiums). It is a… …
109Advance Premium Fund — Insurance companies who receive advance premiums must account for the unearned portion of these premiums as a separate liablity item on their balance sheets. This item is commonly referred to as the advance premium fund or account. As the premium …
110Auto Insurance — A policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident. Instead of paying out of pocket for auto accidents, people pay annual premiums to an auto insurance company; the company then pays all or most… …
