Copay (Copayment)
A fixed amount a policyholder pays for a covered healthcare service, typically at the time of service.
Commercial Property Insurance
Insurance that covers a business’s physical assets such as buildings, inventory, and equipment against risks like fire, theft, and natural […]
Class Rating
An underwriting method where insurance rates are determined based on groups of similar risks, rather than individually.
Class of Business
A category used by insurers to group similar businesses for underwriting and rating purposes.
Claimant
The person or entity making an insurance claim, whether the policyholder or a third party.
Claim
A formal request by a policyholder to an insurance company for payment or services covered under the policy.
Certificate Holder
The person or organization that receives proof of insurance coverage but is not the insured.
