Definition of "Layering"
Combination of several policies with each adding an additional layer or limit of coverage above the limits of the policy that comes before it. For example, Policy A adds $100,000, then Policy B adds $200,000 and then Policy C adds $300,000, for a total of $600,000. In some instances a business firm cannot obtain the total coverage it requires from a single insurance company. Thus, the business may have to buy several policies from different companies in order to acquire the total needed.
Popular Insurance Terms
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Number of individuals exposed to the risk of illness, sickness, and disease at each age, and the actual number of individuals who incurred an illness, sickness, and disease at each age. ...
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Same as term Fortuitous Loss: loss occurring by accident or chance, not by anyone's intention. Insurance policies provide coverage against losses that occur only on a chance basis, where ...
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