Contract
Types
Our
Stop Loss Contract has six (6) standard contract types for specific
and aggregate coverage.
Incurred
and Paid Basis Contracts
1.
12/12
a. Incurred during the policy period AND
b. Paid during the policy period
2.
12/15 (Note
A)
a. Incurred during the policy period AND
b. Paid during the policy period or within three months thereafter
3.
12/18
(Note B)
a.
Incurred during the policy period AND
b. Paid during the policy period or within six months thereafter
4.
15/12
a. Incurred during the policy period or within three months prior
to the beginning of the policy period AND
b. Paid during the policy period
5.
18/12
a. Incurred during the policy period or within six months prior
to the beginning of the policy period AND
b. Paid during the policy period
6.
24/12
a. Incurred during the policy period or within twelve months prior
to the beginning of the policy period AND
b. Paid during the policy period
Notes
A. A 12/15 aggregate must be accompanied with a 12/15 specific.
B. A 12/18 aggregate must be accompanied with a 12/18 specific.
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