Guiding Principles
Title of a published set of rules, adhered to by member companies of major property and liability associations, that stipulate how losses should be adjusted when the same loss is covered by more than one insurance company. Particular emphasis is placed on how the cost of the losses should be apportioned among the companies under various situations.
Popular Insurance Terms
in health insurance, reimbursement for an insured's medically related expenses, including room and board, surgery, medicines,anesthetics, ambulance service to and from a hospital, ...
Insurance company that transfers a risk to a reinsurance company. ...
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