Insurance Term : 'Aggregate Stop-Loss Insurance'

Definition of 'Aggregate Stop-Loss Insurance'

A policy designed to limit claim coverage (losses) to a specific amount. This type of coverage is to ensure that catastrophic claims (specific stop-loss) or numerous claims (aggregate stop-loss), do not upset the financial reserves of a self-funded plan. Aggregate stop-loss protects the employer against higher-than-expected claims. If total claims exceed the aggregate limit, the stop-loss insurance carrier reimburses the employer.

Example:

A self-funded plan is one in which the employer assumes the financial risk for providing healthcare benefits to its employees. In practical terms, self-funded employers pay for each claim as it is presented instead of paying a fixed premium to an insurance carrier for a fully insured plan. Stop-loss insurance is similar to purchasing high-deductible insurance. The employer remains responsible for claims expense under the deductible amount.

Read more: http://www.investopedia.com/terms/a/aggregate-stop-loss-insurance.asp#ixzz2FiXoMXhI

Oracle : MERGE INTO

Update statement is used to update the records in tables however it become complex task when we need to update the records on JOIN condition with other tables.

MERGE INTO set of commands is efficient way to do the same.

Syntax :
           MERGE INTO tablename
           USING { query| tablename } on { condition }
           [ WHEN MATCHED THEN UPDATE set_clause
                          [ DELETE CONDITION ]
           [ WHEN NOT MATCHED THEN INSERT values_clause ]

Insurance Defination : Damage

If any bad thing happens below are three levels of Damage.

Damage: Actual loss or injury due to accident.

Compensatory Damage: In addition to actual loss or injury, this term may include amounts for expenses, loss of time, bodily suffering and mental suffering

Punitive Damage: Damages awarded over and above compensatory damages to punish a negligent party because of wanton, reckless, or malicious acts or omissions.