Florida Health Insurance Definitions

Florida Health Insurance Terms:
"Provision"

Define: "Provision"

Provision for claims Incurred But Not Reported by the balance sheet date. In other words, it is anticipated that an event will affect a number of policies, although no claims have been made so far, and is therefore likely to result in liability for the insurer.

The set of providers contracted with a health plan to provide services to the covered person(s). "a stipulated condition; "he accepted subject to one provision" -- the activity of supplying or providing something planning: -- the cognitive process of thinking about what you will do in the event of something happening; "his planning for retirement was hindered by several uncertainties" -- a store or supply of something (especially of food or clothing or arms) supply with provisions"

More Examples of Provision

"A statement or clause, found in an insurance policy, to establish some term of the contract. "

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