• Accident and dismemberment (AD&D) insurance is often included with group life insurance plans. In essence, it provides for (1) “double indemnity” when the death is due to an accident, and (2) certain dismemberment payments. It usually pays the full principal in the event of the death or loss of more than one member (such as an arm, eye, or leg) in an accident. Half of the principal amount is usually paid in the event of the loss of one member.

  • Accidental death benefit is an additional provision of a life insurance policy that pays additional benefits in the event of the death of the insured person as a result of an accident. There is usually an additional premium for this position. Also known as additional death benefit or double indemnity.

  • An accommodation line is when an insurer accepts from an agent, broker or policyholder whose account is otherwise satisfactory one or more lines of coverage that would normally be rejected if considered strictly on the basis of individual risk.

  • The Accountable Care Organization (ACO) is an organization created under the Patient Protection and Affordable Care Act (PPACA). ACOs offer healthcare providers financial incentives to work together to better coordinate services for patient groups and thereby improve quality of care while reducing costs. Another focus of the ACO is to help reduce readmission rates for certain conditions such as heart attack/heart failure and pneumonia. An ACO may include primary care physicians, medical specialists, hospitals, or other health care providers. Under the provisions of the ACA that created the ACO, if the ACO achieves certain quality targets, the resulting savings are shared among the various suppliers that are part of the ACO.

  • Professional liability insurance for accountants provides coverage for financial losses from the provision of professional accounting services. Policies generally do not cover fraud, intentional acts, criminal acts, bodily injury (BI), and property damage (PD). Coverage for higher risk activities such as investment services and the work of the Securities and Exchange Commission (SEC) is available upon approval.

  • Accreditation is the process by which a governmental or other regulatory standards-setting organization determines whether an organization seeking to provide services that fall under that organization’s mandate meets acceptable standards for such purposes. For example, commercial insurers registered in a state that accepts all of the National Association of Insurance Commissioners’ (NAIC) model acts and is otherwise vetted would be acceptable coverage in other states.