InsuranceRisk mapping (risk profiling) Unilateral contract General average clause Concealment Vicarious liability Pollution insurance
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An additional charge is added to the standard rate when issuing coverages due to pre-existing health conditions or impairments of the insured. This is known as a substandard rate and is determined based on the severity and risk of the condition. It is important for individuals to understand how substandard rates impact their coverage and the potential financial implications. Let's delve deeper into this concept to gain a better understanding.
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