Utilization

Definition

  • A measure of how often an insured group uses their insurance policy.

Synonyms
put to use, make use of, take advantage of, exercise

Related Terms and Acronyms

  • Adequacy of Coverage Definition,
    • An assessment of how well an entity's property and assets are insured against potential losses.
  • Casualty Insurance Definition,
    • Insurance that covers losses and liability from injuries to others and/or damage to the property of others.
  • Coverage Definition,
    • The type or amount of protection afforded by an insurance policy.
  • Group Health Insurance Plan Definition,
    • Health insurance that covers a large group of people, often as part as a employee benefit package.
  • Health Insurance (HI) Acronym,
    • Insurance that covers the costs of medical expenses for insured persons.
  • Insurance Policy Definition,
    • A legal contract between an insurer and entity that specifies what the insurer is required to cover and any benefits the insured entity is entitled to.
  • Premium Definition,
    • A payment made to an insurance company for insurance coverage.
  • Property Insurance Definition,
    • Insurance that provides coverage for damages to property from a number of perils.
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