Large deductible plan

Term · Insurance and risk management · MLC-T-INS-001956

A workers' compensation or liability insurance program where the policyholder accepts a high deductible, such as $100,000 or more per occurrence. The insured is responsible for reimbursing the insurer for all claims paid up to the deductible amount, while the insurer handles claims administration and pays for losses exceeding that threshold. To guarantee reimbursement, the insurer requires the policyholder to provide collateral, typically in the form of a letter of credit, for the expected losses within the deductible layer.

Table 1. Record
Identifier	MLC-T-INS-001956
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-001956",
  "term": "Large deductible plan",
  "field": "Insurance and risk management",
  "definition": "A workers' compensation or liability insurance program where the policyholder accepts a high deductible, such as $100,000 or more per occurrence. The insured is responsible for reimbursing the insurer for all claims paid up to the deductible amount, while the insurer handles claims administration and pays for losses exceeding that threshold. To guarantee reimbursement, the insurer requires the policyholder to provide collateral, typically in the form of a letter of credit, for the expected losses within the deductible layer.",
  "url": "https://mlchart.com/terminology/insurance/large-deductible-plan/"
}

Record 1,879 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.