Insurance

Pro-rata clause

The prorata clause, a common insurance term, establishes an agreement among insurers to evenly distribute losses based on the proportion of their coverage to the total coverage. This means that if multiple insurers are covering a risk, each will be responsible for a portion of any losses based on their specific coverage. This clause ensures fair distribution of risks and helps protect insurers from bearing the full burden of a loss.

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Blanket coverage

Understand the meaning and definition of Blanket coverage in the context of stock market, trading, and investments.

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Policyholders surplus

Understand the meaning and definition of Policyholders surplus in the context of stock market, trading, and investments.

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Automatic treaty

Understand the meaning and definition of Automatic treaty in the context of stock market, trading, and investments.

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Social insurance

Understand the meaning and definition of Social insurance in the context of stock market, trading, and investments.

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Common disaster clause

Understand the meaning and definition of Common disaster clause in the context of stock market, trading, and investments.

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Term Cover

Understand the meaning and definition of Term Cover in the context of stock market, trading, and investments.

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