Expediting Expenses
Definition of "Expediting expenses"
Payment by an insurance company to a damaged or destroyed business to hasten its return to normal business operations. For example, if a kitchen of a restaurant is damaged by fire, the insurance company may be willing to pay overtime wages to enable the restaurant to return to normal operations as soon as possible.
Popular Insurance Terms
Present value of future benefits. This type of reserve would be applicable for single premium life insurance, paid-up insurance, single premium annuity, and a paid-up annuity. ...
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