Split Deductible
Definition of "Split deductible"
Deductible applicable to each loss so that the amount of each loss retained by the insured varies according to the peril that caused the loss. For example, the split deductible in a policy may specify that the insured must retain the first $300 of any fire loss and $100 of any vandalism and malicious mischief loss.
Popular Insurance Terms
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Bill that allows the insurance company to include a clause in its policy that permits the policyholder to make a policy loan at a variable interest rate on new policies. Under this clause, ...
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Allocation of monetary resources to equities. ...
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Statutory liabilities minus the interest MAINTENANCE RESERVE minus the ASSET VALUATION RESERVE. ...
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