Definition of "Quid pro quo"

Rick Cranmer real estate agent
Rick Cranmer, Real Estate Agent Atlantic Shores Realty Expertise

Exchange, in insurance, of an adequate consideration (premium paid by an insured) for the promise of an insurance company to pay benefits in the event the insured incurs a loss.

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

 
 
 
*** Your email address will remain confidential.
 
 
 

 

Popular Insurance Terms

Popular Insurance Questions