Basic Definitions
This is someone who legally represents the insured even though he or she receives a commission from the insurer.
What is a Broker?
This type of program provides coverage for medical expenses and prescriptions for employees.
What is Health Insurance?
This can be a Secured, unsecured, and Guaranteed
What are the types of loans?
This is my GIS Chapter's name
What is Beta Epsilon?
This is an amount the insurer will deduct from the loss before paying up to its policy limits
What is a Deductible?
This is someone who legally represents the principal and has the authority to act on the principal’s behalf.
What is an Agent?
Some senior citizens rely on this government benefit for their health care when they retire.
What is Medicare?
This is the number of exams passed to become a CERA
What is 7?
This is the year GIS was founded?
What is 1966?
This is the highest insurance company rating A.M. Best
What is A++?
This is the spreading of losses incurred by the few over the entire group, so that in the process, the average loss is substituted for actual loss.
What is Pooling?
This type of program is designed to help employees with financial and family concerns, among other issues.
What is an Employee Assistance Program/ EAP?
Average forward rate
What is zero rate?
This is the number of GIS Chapters
What is 87?
This is the coverage provided for medical costs and loss of wages when the insured is injured by a hit-and-run driver
What is uninsured motorists coverage?
This means that the insured is restored to his or her approximate financial position prior to the occurrence of the loss.
What is Indemnification?
This is currently the most common source of health care coverage for U.S. workers.
What is employer-sponsored group health insurance?
This is the number of exams to become a FAS or FCAS
What is 10?
This is were GIS was founded
What is Ohio State University or Columbus, OH?
The first example of this happened in China, around 3000 B.C.
What is Insurance?
This is the tendency of persons with a higher-than-average chance of loss to seek insurance at standard (average) rates, which, if not controlled by underwriting and policy provisions, results in higher-than-expected loss levels and unprofitable business.
What is Adverse selection?
This “holiday” occurs on April 2 each year to recognize trustees, benefits professionals, etc. for the important role their play in their colleagues’ well-being.
What is National Employee Benefits Day?
This is the amount of time the preliminary exams are
What is 3 hours?
This is the First Grand Chapter president's Name
Who is Warren L. Weeks?
This is the application of two or more underinsured motorists (UIM) coverage limits to a single auto accident because two or more separate policies apply
What is inter-policy stacking?