Cob Meaning Insurance. COB clause is a provision in the insurance policy which states that benefits will not be paid for amounts that are already covered by other organizational health insurers. Insurance COB abbreviation meaning defined here.
Sometimes two insurance plans work together to pay claims for the same person. It prevents insurers from overpaying for claims. Council of Bureaux International Association of National Motor Insurers Bureaux COB.
What does COB stand for in Insurance.
Council of Bureaux International Association of National Motor Insurers Bureaux COB. COB clause is a provision in the insurance policy which states that benefits will not be paid for amounts that are already covered by other organizational health insurers. What this means is that members of a family have insurance through one employer such as Blue Cross Blue Shield through the husbands policy. Also referred to as COB coordination of benefits occurs when an individual is in possession of more than one insurance policy and when it comes to processing a claim the policies are assessed to determine which will be assigned with the primary responsibility for covering the predominant share of the claim costsThe process also.
