Utilization

Definition

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

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

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.