Coinsurance Limit
Definition of "Coinsurance limit"
In a mercantile open-stock burglary insurance policy, the dollar amount of coverage as required by the COINSURANCE clause. This dollar amount is the MAXIMUM PROBABLE LOSS (MPL) of merchandise that the insurer estimates could result from a single burglary. The indemnification of the insured merchant cannot exceed the lesser of this coinsurance limit or the COINSURANCE PERCENTAGE of the total dollar value of the merchandise that has been insured.
Popular Insurance Terms
Nominal interest rate minus the rate of inflation. ...
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Section of a policy that specifies the dollar amount or percentage of any loss that the insurance does not pay. Most property and medical policies specify that the first portion of any loss ...
Same as term Unallocated Funding Instrument: pension funding agreement under which funds paid into a retirement plan are not currently allocated to purchase retirement benefits. The funds ...
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Trust in which rights to make any changes therein are surrendered permanently by the grantor. The grantor uses this type of trust to transfer assets and any potential depreciation out of ...
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Same as term Bankers Blanket Bond: coverage for a bank in the event of loss due to dishonest acts of its employees or individuals external to the bank. For example, if a teller goes to ...
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