A B C D E F G H I J K L M N O P Q R S T U V W X Y Z All
Insurance coverage that extends the terms of a regular insurance policy once coverage limits for the regular policy have been reached. Specifically, umbrella coverage is for people who want protection against a large jury award that is not covered in their standard policy.
Underinsured Motorist Coverage
Provides coverage for bodily injury caused by a driver who is underinsured. It does not cover damage to your car.
An individual in an insurance company who determines what insurance risks will be accepted and on what terms.
The process of identifying and classifying the degree of risk represented by a proposed insured.
Uninsured Motorist Bodily Injury Coverage
Insurance that covers the insured and family members if injured by a hit-and-run motorist or an uninsured driver, provided the other driver is at fault.
A flexible premium life insurance contract that permits policy owners to adjust their policy’s premiums, timing of payments, and face amount from time to time.
Usual, Customary & Reasonable
The dollar amount the insurance companies believe to be a fair price for the medical service/procedure in a specific geographic area. Companies have developed their own UCR, which often do not reflect the doctor’s actual bill. If the doctor’s chargers are higher than the companies UCR charge, you generally have to pay the balance.
Utilization Review Services
A process that reviews, on a case-by-case basis, the utilization, appropriateness, or quality of medical services provided to a person. Examples of utilization review are pre-hospital admission, pre-inpatient certification, second opinions, etc.