Contributing Insurance
Definition of "Contributing insurance"
Same as term Contribution: principle of equity in property, casualty, and health insurance. When two or more policies apply to the loss, each policy pays its part of the loss, unless its terms provide otherwise. For example, if two policies each insure a risk for $100,000 and there is a $50,000 loss, then each policy (depending on coinsurance requirements) will pay $25,000. In employee benefits, payment made by an employee.
Popular Insurance Terms
Publication stipulating underwriting rules applicable for a given line of insurance, classifications of exposures within that line of insurance, and premium rates per classification. For ...
Insurance policy underwritten and issued by a syndicate listing each risk insured by each syndicate member. ...
Measure showing how much life insurance an agent has lost through replacement. It is expressed as a percentage of number of policies, face amount, or premium volume. ...
Person insured under a blue CROSS hospitalization or blue shield medical health insurance plan. ...
Coverage on jewelry and precious stones on an all risks basis at any location subject to exclusions of wear and tear, war, and nuclear disaster. Each item must be specifically listed in the ...
Federal statute relating to drug abuse policies that requires all employers with federal contracts at least equal to $25,000 to certify, as a condition of receiving a federal contract, that ...
Hospital charges in addition to room and board. Miscellaneous expenses are covered under a basic hospital plan, with the limits of coverage expressed either as a multiple of the daily ...
Signed receipt by policyowner acknowledging that policyowner is in possession of the policy. ...
Type of disability income insurance that provides income payments to the wage earner when income is interrupted or terminated because of illness, sickness, or accident and can continue to ...
Have a question or comment?
We're here to help.