Glossary

The "going and coming" rule, typically found in workers compensation and employment law, states that injuries or incidents occurring while an employee is traveling to or from their regular workplace are generally not considered to arise out of the course and scope of employment. This means that such injuries are typically not covered by workers compensation benefits without a recognized exception, such as a special work-related errand, employer-provided transportation, or travel that constitutes part of the employee's job duties.

A good faith settlement is a "blessing" by the court that protects a settling defendant from further claims with respect to the incident alleged in the complaint.

Good local standard is the policy wording that most insurers licensed to write coverage in the respective country would quote competitively to most local clients. The standard is used in multinational insurance programs as assurance that the coverage placed on behalf of the multinational is at least the equivalent of what could be purchased locally with respect to coverage terms, conditions, and pricing.

Good Samaritan statutes are laws in various states that relieve physicians of any liability for providing treatment in an emergency such as an automobile accident, as long as the treatment provided was not grossly negligent, wanton, or reckless and the physician received no compensation.

A good student discount is provided by some auto insurers if a student driver maintains a certain grade point average (e.g., 3.0) or is named to the honor roll or dean's list. Such discounts can range from 5 percent to 15 percent.

The governing classification in workers compensation insurance is the classification (other than a standard exception) that best describes the workers compensation exposure of an employer's business as determined by majority of payroll.

A grace period is an insurance provision allowing the insured a certain number of days (e.g., 30 or 31) after the premium due date to make payment if the insurance is to stay in force.

A graded commission schedule is one based on premium size (e.g., 12.5 percent for the first $5,000 of premium, a lower percentage for the next $95,000, and lower still beyond $100,000).

Graduated drivers licenses are issued to young drivers that allow them to improve their driving skills over time. Often, such licenses place restrictions on the number of people a new driver may have in the car at one time. Another restriction often imposed is that young people with these licenses may not drive between a certain time (typically midnight and sunrise).

The Gramm-Leach-Bliley Act of 1999 eliminated many Depression-era restrictions on banks, securities firms, insurance companies, and other financial service providers that had previously barred companies in different financial sectors from engaging in each other's businesses. It also addressed other issues such as information privacy and redomestication of mutual insurers. Generally, it bars a financial institution from disclosing a consumer's nonpublic personal information to an unaffiliated third party unless it provides notice to the consumer and allows the consumer an opportunity to opt out. It requires financial institutions to provide customers with a privacy notice at the start of the customer relationship and once annually thereafter. Also, GLB requires each federal regulatory agency to establish standards by which the financial institutions under its jurisdiction implement "administrative, technical, and physical safeguards."