Brainarium

Awareness Provision - ️️A policy provision that allows insureds to notify the insurer of circumstances they believe will give rise to future claims (also called the notice of potential claim or circumstance or the discovery clause) Claims-Made Policy - ️️A form of liability coverage that is triggered IF (1) an event takes place after the retro date but before the expiration of coverage and (2) the claim is made against the insured while the policy or any applicable Extended Reportin...

How did the enactment of ERISA change the professional liability insurance industry? - ️️Fiduciary liability existed before ERISA. However, this type of insurance was not offered until after ERISA was enacted. ERISA imposed guidelines that increased the potential liability of fiduciaries of employee benefits plans. Consequently the need for this insurance emerged. A person or organization is a fiduciary if that person or organization holds the confidence or trust of another, especially...

Back Pay - ️️The monetary relief to reimburse wages and/or benefits lost as a result of unlawful discrimination or wrongful termination;; Wages the employee would have earned but for the unlawful treatment by the employer minus any amount the employee was able to earn in the interim Americans with Disabilities Act ADA - ️️A federal statute that protects disabled (physical or mental) individuals from employment discrimination and requires employers to offer reasonable accommodations...

How do you prove negligence for contractual liability? - ️️Plaintiff must prove: 1. That the contract existed 2. Contract was breached 3. Plaintiff suffered injury or damage 4. Damages were caused by breach of contract Directors and Officers Insurance - ️️-Provides coverage for directors and officers for liability that may arise fro claims/suits filed by shareholders, regulators, employees, and others. -In some instances, even the company they work for can sue the board for mism...

Arbitration - ️️A method of ADR that allows the disputing parties to present arguments and evidence to an independent and impartial third party (arbitrator) and that usually binds the parties to the arbitrator's decision Commercial General Liability Insurance (CGL) - ️️A type of insurance that provides coverage for commercial risks for losses arising out of business operations involving bodily injury and property damage, except those specifically excluded, including professional...

Bona Fide Occupational Qualification BFOQ - ️️A job requirement that permits an employer to discriminate legally based on sex, age, religion, national origin, or physical or mental condition - The requirement must be carefully justified and based on actual job needs not stereotypes Base Rate - ️️The rate per unit of insurance that is based on criteria specific to a particular line of coverage and that is a component of a PLI rating plan used to determine PLI premiums, before premiu...

Some well-known lawsuits, which involved corporate malfeasance and alleged improper accounting practices, include - ️️Worldcom, Enron, and Cedant. Each of these cases resulted in tremendous costs for litigation, generating settlements of $6.2 billion, $7.2 billion, and $3.7 billion respectively Define reinsurance and describe its role in the insurance industry. - ️️Reinsurance is called insurance for insurance companies or a form of financial risk transfer. It is a mechanism insura...

Manifestation Theory - ️️Coverage is triggered when the insured first becomes aware of the injury or damage. In the case of bodily injury, coverage is triggered when the condition first manifests itself or becomes diagnosable. Coverage for Newly Acquired Organizations - ️️Coverage that is meant to be temporary and is provided for a maximum of 90 days or until the end of the policy period, whichever occurs first. Commercial General Liability (CGL) form - ️️Written in 1986, and i...

2 types of Off Shore Reinsurers - ️️-domiciled outside the US and not governed by US regulations Bermuda Market - estimated 30% of reinsurance markets (3rd largest market in the world). -Benefits: 1. No income tax 2. Fewer restricitions on how Bermuda companies can invest their assets and deploy capital 3. Close proximity to the US London Market: famous for assuming many unusual and complex risks (lloyds) What are the Major Functions of Reinsurance? - ️️1. Increase Capacity 2. St...

Non-public info about individuals. Things like drivers license numbers, social security numbers, education records, birthdates, salaries, ages, etc. - ️️Personally Identifiable Information (PII) Data that are some combination of stored and transmitted data. These data arrive in an organization, are temporarily stored while the organization uses the data, and then are transmitted elsewhere. Not stored for long periods of time. - ️️Processed Data An underwriting distinction that clas...

What is the difference between retention and coinsurance? - ️️Retention is a specific amount that must be paid for each claim. Co-insurance is required for Side B and Side C claims and is a percent of the loss insureds must pay before the policy covers any loss. What type of D&O Liability do Disclosures Policies address? - ️️Disclosures Policies can protect a Company against claims of misrepresentation or omission that are filed when a Company selectively discloses information. Wh...

Corporate Governance - ️️The system by which corporations are directed and controlled, and the relationship between the participants, including the shareholders, directors, officers, and employees Business Judgment Rule - ️️A defense used in D&O claims so that others may not second-guess business decisions. The rule assumes that the directors and officers acted on an informed basis, in good faith, and in the honest belief that the action taken was in the company's best interest ...

Americans with Disabilities Act (ADA) 1990 - ️️A federal law that protects disabled individuals against employment discrimination and requires employers to offer reasonable accommodations to employees with disabilities. Alternative Dispute Resolution (ADR) - ️️The methods, including mediation and arbitration, of settling disputes by means other than court trial that are typically less costly and more expeditious than the litigation process Affirmative Action - ️️The proactive m...

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Among other things, ___________ involves making a client aware of resources in the community, as well as providing information related to substance abuse, HIV/AIDs, and other STDs - ️️client education The concept of consent requires that before agreeing to accept treatment, clients should know their rights and obligations, therapeutic goals, fees for services, and _________ - ️️The limits of their confidentiality MAT refers to - ️️the use of medications such as suboxone in the ...

regular use - up to several times a week. may begin use during the day. may be using along rather than with friends. There are behavioral indicators in this phase of addiction, such as a decrease in activities, declined in school or work performance, and greater interest in use. May use to manipulate emotions in this phase. May sell drugs or keep supply for personal use. - ️️Abuse of Drugs and Alcohol (stage 2) This treatment approach should minimize the risk of re-traumatization or rep...

used to treat alcohol dependence; inhibits an enzyme involved in the metabolism in alcohol, causing unpleasant reaction (i.e. flushing, nausea, and heart palpitations) if alcohol is consumed after taking the medication; compliance can be a problem but is very effective with motivated pts. - ️️Disulfiram (Antabuse) FDA approved disulfiram, naltrexone, and acamprosate for treatment of ____________ - ️️alcohol dependence FDA approved methadone, naltrexone, and buprenorphine for treatm...

A young person meeting with you for the first time asks if treatment will be effective for him or her. What should you say? - ️️Tell the person that treatment is not always effective. It is unethical to present therapy as always effective for every individual. A therapist should never misrepresent his or her ability or training, or the effectiveness of therapy Your patient is of a spiritual faith that is counter to your own. You should... - ️️Continue with treatment, being respectf...

Which opioid antagonist is used to treat Alcohol Use Disorder? - ️️Oral Naltrexone hydrochloride (ReVia; Depade) for Alcohol Treatment Nalxone how does it work and what does it do? - ️️Naloxone is a medication for opioid overdose deaths. The medication binds to opioid receptors and can reverse or block opioid receptors, reversing overdose. MAT - ️️Medication Assisted Treatment- form of pharmacotherapy/any treatment that includes pharmacologic intervention as part of a comprehen...

Eric has admitted being sexually active without using any type of protection against sexually transmitted diseases. His counselor has made an appointment for him to be tested for the HIV virus. He then made arrangements for Eric to be transported to the clinic. Facilitating this appointment is BEST described as: - ️️case management The concept of informed consent requires that before agreeing to accept, treatment clients should know their rights and obligations, therapeutic goals, fees ...