Corrections and Clarifications.Stop loss: ReliaStar Life Insurance Co. remains committed to the managed-care reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. business, including stop-loss stop-loss, n a general term referring to that category of coverage that provides insurance protection (reinsurance) to an employer for a self-funded plan. coverage for physician groups and clinics. A statement in an article on specialty medical-malpractice insurers in the December 1999 issue of Best's Review incorrectly implied that ReliaStar had exited this line of business. With the announcement of its third-quarter earnings in October, ReliaStar set aside reserves for medical reinsurance losses unrelated to its managed-care reinsurance line. Meeting: The annual convention of the Independent Insurance Agents of Texas will be held June 8 to 10. The date was incorrect in the December 1999 edition of Best's Review. Financial results: The monetary amounts listed in a chart in the article "New Rules in the Old Country," in the December 1999 property/casualty edition of Best's Review represent millions of Belgian francs Noun 1. Belgian franc - formerly the basic unit of money in Belgium franc - the basic monetary unit in many countries; equal to 100 centimes centime - a fractional monetary unit of several countries: France and Algeria and Belgium and Burkina Faso and . Annuities: Fidelity & Guaranty As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. Life Co., Baltimore, a leading seller of equity-indexed annuities equity-indexed annuity A contract with an insurance company that promises periodic payments keyed in a specified manner to a stock market index. Unlike variable annuities, equity-indexed annuities specify a guaranteed minimum return that is typically 3%. in 1999, was not among the insurers that made mistakes in the design of those products. The information was incorrect in the "People to Watch" article in the January 2000 edition of Best's Review. |
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