Insured Event

(redirected from Insured Events)

Insured Event

Any event that would cause an insurer to pay a claim. For example, in car insurance, an insured event may be a car accident because it would cause the insurance company to compensate the policyholder for property damage and/or medical bills. Insurance companies base their premiums on the likelihood that an insured event may happen. For example, a younger driver may pay a higher premium than an adult because younger drivers may be statistically more likely to cause an accident.
References in periodicals archive ?
The coverage levels must be detected on at least two times for all insured events per year of insurance.
Insured events that may be covered include: death, diagnosis of a terminal illness, diagnosis of critical illness, disability due to ill health, permanent disability, accidental death.
K&R policies also cover a wide range of expenses related to the insured events.
76 billion, had the catastrophe been found to have been two insured events.
The most commonly insured events are discrimination, sexual harassment and wrongful termination, and are the specified perils for most policies.
However, all three classes of notes could incur additional losses if additional insured events occur before the expiration of the reinsurance agreement on May 31, 2008.
Loss reserves--including those for loss adjustment expenses--are estimates of the amounts to be paid in the future to settle claims related to insured events that have already occurred.
The net incurred losses and loss adjustment expenses consist of the provision for insured events of the current year and the increase or decrease in the provision for events of prior years, net of reinsurance.
Visits to this Framework Agreement are subject to the occurrence to be insured events.
The calendar year losses and LAE ratio includes changes made during the calendar year in reserves for losses and LAE established for insured events occurring in the current and prior periods.
Bajaj Allianz will also cover increases in interest expenses caused by delays in any insured events.