The insurance summaries that follow provide an overview of the various liablity, property and casualty insurance programs which may be of interest to MCO managers and employees. A brief explanation of some of the terms used in the summaries is in order to help make them more understandable. Risk type is the type of coverage provided by the particular self-insurance program or insurance policy being summarized and is classified by using a specific insurance industry term. Therefore the title of each type of summary may not seem to be the most descriptive from a layman's view point, but it is the commonly accepted insurance industry name for that particular coverage.
All insurance policies identify who is covered by the insurance.
Insureds can be people or organizations. MCO may change an insurance policy from one insurance company to another. The effective dates of coverage for the two insurances will vary and can cause confusion as to which company is responsible to pay a claim. It becomes necessary to be able to identify which claims are applied to which particular insurance policy. A policy written as a claims made form requires that, before a claim is covered under that policy, the claim or potential claim needs to be reported to the insurance company during the effective dates of the policy.