InsuranceSingle-premium life Hospice Contributory negligence Life insurance Capacity Per-cause deductible
Equal shares
In the world of insurance, there exists a method of apportionment known as pro rata. This method involves the distribution of a loss among multiple insurers who have provided coverage for that particular loss. Each insurer is responsible for sharing the loss in proportion to their respective limit of liability. This system ensures that the risk is spread evenly among the insurers and minimizes the financial burden on any one company. It is an important concept to understand in the field of finance and insurance.
Related terms
Understand the meaning and definition of Single-premium life in the context of stock market, trading, and investments.
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MOREUnderstand the meaning and definition of Capacity in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Per-cause deductible in the context of stock market, trading, and investments.
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