Professional risk, definition

Professional risk, which means “the assumption of the cost for the provision of physician, ancillary, or pharmacy services undertaken by physicians or other licensed or certified providers to subscribers or enrollees in return for a prepaid or periodic charge paid by or on behalf of the subscriber or enrollee.”
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Professional risk, which means “the assumption of the cost for the provision of physician, ancillary, or pharmacy services undertaken by physicians or other
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Examples of Professional risk, in a sentence

  • The AsBo shall maintain the Professional risk indemnity insurance in force as long as it is necessary to accomplish any obligations according to this Agreement and the specific Assignment Order.

  • The Contractor shall insure against public/third party liability (Professional risk indemnity insurance) for the implementation of the Services during the term of the Agreement.

  • The AsBo`s Professional risk indemnity insurance shall refer to direct beneficiaries as follows: for insurance events arising within the Republic of Latvia the direct beneficiary shall be the Principal and the Implementing Body in Latvia, for the insurance events arising within the Republic of Estonia the direct beneficiary shall be the Implementing Body in Estonia, for the insurance events arising within the Republic of Lithuania the direct beneficiary shall be the Implementing Body in Lithuania.

  • The AsBo`s Professional risk indemnity insurance shall be provided by an insurance company (re-insurance company) with a required minimum rating of BB+ (or equivalent) in accordance with either Standard & Poor`s, Fitch`s or ▇▇▇▇▇`s rating agencies.

  • Within twenty (20) Business Days following the Effective Date, the AsBo shall provide a copy of insurance policy accompanied with an original certificate from its insurer or broker stating that the Professional risk indemnity insurance required under this Section XIII.

  • At the AsBo`s request and to comply with fair market practice the above terms for to the Professional risk indemnity insurance may be further adjusted with the Principal`s consent, upon the sole discretion of the Principal, to the extent the adjustment would not alter the substance and the objective of the above terms.

  • In addition, the AsBo shall provide not less than five (5) Business Days prior written notice to the Principal of any cancellation or material reduction in the Professional risk indemnity insurance.

  • The AsBo is obliged to submit to the Principal a copy of a renewed insurance policy accompanied with an original certificate from its insurer or broker or a copy of a new insurance policy accompanied with an original certificate from its insurer or broker stating that the Professional risk indemnity insurance is in full force and effect within five (5) Business Days before the date of expiry of the previous Professional risk indemnity insurance.

  • The AsBo`s failure to maintain the Professional risk indemnity insurance in accordance with the terms of the Agreement shall constitute a material breach of the Agreement.

  • The amount of the Professional risk indemnity insurance liability for each insured event shall be no less than twenty percent (20%) of the total value of the Agreement under Clause 2.2. The costs of such insurance shall be at the sole expense of the AsBo.

Related to Professional risk,

  • Professional Engineer means a person entitled to practise as a Professional Engineer in the Province of Ontario under a licence issued under the Professional Engineers Act;

  • Professional experience means the actual and lawful pursuit of the profession concerned;

  • Paraprofessional means a person who does not have an academic degree related to the scope of treatment or support services being provided but performs prescribed functions under the general supervision of that discipline.

  • Professional means an Entity employed pursuant to a Bankruptcy Court order in accordance with sections 327 or 1103 of the Bankruptcy Code and to be compensated for services rendered before or on the Confirmation Date, pursuant to sections 327, 328, 329, 330, or 331 of the Bankruptcy Code.

  • Licensed Professional Engineer means a person acceptable to Buyer in its reasonable judgment who (a) is licensed to practice engineering in California, (b) has training and experience in the power industry specific to the technology of the Project, (c) has no economic relationship, association, or nexus with Seller or Buyer, other than to meet the obligations of Seller pursuant to this Agreement, (d) is not a representative of a consultant, engineer, contractor, designer or other individual involved in the development of the Project or of a manufacturer or supplier of any equipment installed at the Project, and (e) is licensed in an appropriate engineering discipline for the required certification being made.