Principles of Risk Management and Insurance, 13th Edition

O

• OASDI.( See Social Security(

• Obamacare.( See Affordable Care Act(

• Obesity, 204

• Objective probability, 4

• Objective risk, 3, 28, 45

• Obligee, surety bond, 613

• Occupancy, in schedule rating, 139

• Occurrence, definition of, 505, 579

• Occurrence policy, 585

• Ocean marine insurance, 31, 176–177, 563–565

• Offer and acceptance, 179

• Office of Personnel Management, 74

• Office of the Chief Actuary (Social Security Administration), 401

• Old-Age, Survivors, and Disability Insurance (OASDI).( See Social Security(

• ‘‘Open perils” basis, personal articles floater and, 529–530

• Open-perils policy, 190

• Operational risk, 6, 71

• Operations, and risk management, 59

• Opiate overuse, and workers compensation, 396

• Opportunity cost

  • definition of, 210

  • of life insurance, 210