Attachment Point
Definition of "Attachment point"
Critical point in the total amount of claims paid above which the excess insurance policy pays a percentage (generally 80-100%) of the claims for any policy year experience.
Popular Insurance Terms
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Insurance coverage purchased on the same item from two or more insurance companies. ...
Clause in some disability income insurance policies under which there is a maximum an insured can receive from all sources of disability income benefits. For example, the clause may ...
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Person who has the responsibility for examining the risk to determine whether or not to insure it. ...
Risk management technique for identifying risks and taking steps to minimize losses. ...
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The term pro rata comes from Latin and translates to in proportion, proportionally, the proportion of, proportionately determined, or according to a specific rate. It is often used in legal ...
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