Definition of "Imprest account"

Brian Burget real estate agent
Brian Burget, Real Estate Agent Coldwell Banker Residential Real Estate - Punta Gorda

Fund established to pay specified losses, usually the low severity property losses. This type of account is an excellent device in conjunction with a self-insurance plan, in which the fund is infused with new money as it goes to zero after paying property losses.

Have a question or comment?
We're here to help.

*** Your email address will remain confidential.


Popular Insurance Terms

Popular Insurance Questions