Glossary

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Umbrella Libility Coverage

Umbrella liability insurance provides coverage beyond what is considered the usual and standard coverage for liability. Corporations often purchase umbrella liability insurance as a safeguard against situations that would impede the ability of the company to continue its usual operations.

Unassigned Claim

A claim that is submitted for a service or supply by a provider who does not accept assignment.

Underwriter

A person trained in evaluating risks and determining rates and coverage for them.

Unearned Premium

The portion of an advance premium payment that has not yet been used for the coverage written.

Usual, Customary and Reasonable (UCR) or Covered Expenses

An amount customarily covered or charged for similar services and supplies which are considered medically necessary, recommended by a doctor, or required for treatment.
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