Glossary
The Payment Card Industry Data Security Standard (PCIDSS) is a set of proprietary information security protocols that businesses are obligated to follow and merchants must agree to if they accept payment from the leading credit cards, including Visa, MasterCard, American Express, and Discover.
Read MoreThe payment card industry fines and assessments insuring agreement is found within cyber and privacy insurance policy forms and covers (1) fines and penalties for failing to comply with the Payment Card Industry Data Security Standard and (2) defense costs incurred, if the insured challenges such penalties.
Read MoreA payor benefit refers to a provision under which premiums are waived if the person paying the premiums becomes disabled or dies.
Read MoreA payout profile is a schedule illustrating the percentage of loss dollars actually paid in settlement of claims over time.
Read MorePayroll audit is a review of an insured's payroll records by a representative of the insurer to determine the earned premium on a policy such as workers compensation.
Read MorePayroll deduction is a method of paying insurance premiums, typically for personal lines policies, that is sometimes offered as an employee benefit.
Read MorePayroll limitation is a limitation on the amount of payroll for certain classifications used for the development of premium.
Read MorePay practices claims are one of the two types of wage and hour claims made by employees against their employers.
Read MorePeer review refers to a process in a professional firm whereby one or more professionals reviews and critiques the work of another professional within the organization on a given project.
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