代理

A person LMCIT members contract with for consultation on insurance and risk management matters and for assistance with purchasing or renewing coverage. The property/casualty and workers’ compensation programs are designed to operate through a licensed insurance agent. 代理s are required for the property/casualty program and are optional for the workers’ compensation program. The selection of the agent is the responsibility of the member.

总

The maximum amount LMCIT will pay during a member’s annual coverage period. As it relates to the general annual aggregate deductible, this is the maximum amount the city is responsible for during a coverage period before the maintenance deductible applies to each loss.

Agreement

  1. A purchased contract between LMCIT and a member that ensures coverage will be provided by LMCIT for a specified cost and period of time (also referred to as a “covenant” or “policy”).
  2. Also used as a general term when reaching a resolution or an understanding of what each party is responsible for or will agree to do.

索赔

A formal request made to LMCIT for coverage or compensation for a covered loss. 索赔 are usually filed by LMCIT members.

理赔人

Person designated to investigate the validity of a claim and, 如果索赔是有效的, assess a recommended amount to be paid for 损害赔偿 or losses. 理赔人s may also be known as claims examiners, claims handlers, or claims representatives.

报道

Can be used as shorthand for “coverage Agreement” but can also mean the components of LMCIT’s Agreements that provide benefits or payment by LMCIT to members or third parties.

可扣除的

Portion of the loss the member is responsible for paying. (Larger deductibles can be selected in exchange for up-front premium credits.)

股息

Amount of money returned to members annually if it’s determined that LMCIT is holding more funds than it needs.

曝光

The potential risk experienced by members of LMCIT.

赔偿

  1. When referring to workers’ compensation, indemnity is payment made to an injured employee whose injury occurred as a result of employment (sometimes referred to as lost-time or wage loss benefits).
  2. 当涉及财产/意外事故时, indemnity is payment made that compensates a party for 损害赔偿 or losses.

保险

看到“Agreement.”

保险池

A group of similar members that form a shared risk pool to reduce their overall risk and secure better premiums and coverage plans.

责任

对不法行为的责任, 损害赔偿, and losses that might prompt the filing of a claim or lawsuit. 责任 coverage generally provides for monetary damage a member becomes legally obligated to pay to a third party as a result of a negligent act or omission.

诉讼

Active use of the court system in an effort to collect 损害赔偿 for a loss.

LMCIT

The 明尼苏达城市联盟 保险信托, a self-insured membership cooperative created by Minnesota cities for Minnesota cities to cover city risks and mitigate hazards. (也被称为“信托”.”)

损失控制

Training and services to prevent claims before they occur.

成员

Minnesota cities and other public entities that obtain their coverage through LMCIT.

疏忽

Deliberate or preventable action that could result in the filing of a claim or a lawsuit. (通常指对注意义务的违反.)

政策

看到“Agreement.”

溢价

Amount paid by member to LMCIT for coverage.

财产与意外险保险

Includes coverage for liability, loss of property, and automobile 损害赔偿.

率

The price used to calculate member premiums. Generally, the rate is applied to an exposure measure to calculate the premium. 例如, 对于雇佣实践责任, if the rate is $150 per employee and the member has 10 employees, 由此产生的溢价为1美元,500.

再保险

保险 purchased by LMCIT to help cover costs for large claims or a large aggregation of claims experienced by members.

风险

The chance that losses or 损害赔偿 could occur in any given area. 参见“损失控制.”

风险管理

Mitigating losses through preventive measures, such as 损失控制 programs.

结算

Mutual Agreement between two or more parties to resolve a claim. Can involve a financial payment, non-financial terms, or both.

Sub-limit

The maximum amount LMCIT will pay for a specific type of loss. It will either be within or in addition to the aggregate limit.

承销

Evaluate and accept or decline risk on behalf of the Trust; price the risk; and specify the terms for which the risk is transferred.

工伤赔偿保险

报道 for employees injured while in the course and scope of employment.