Nonconcurrency
Definition of "Nonconcurrency"
Circumstance under which several insurance policies cover an insured's property against damage or destruction, but since the limits of coverage, kinds of property, and perils covered are not the same under all policies, the insured may not be fully covered in the event of a loss.
Popular Insurance Terms
Ordinary life insurance under which premiums are calculated so that the first few years of premiums are less than normal, and subsequent premiums are higher than normal. ...
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