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insurance

TermDefinition
principle of indemnity states that the insured cannot gain from making an insurance
principle of contribution if a risk is insured by two or more insurance companies, any compensation payable will be shared between the compamies
principle of subrogation passes the legal right of the insurer to recover any loss suffered over to the imsure
actury the insurance person who calculates the premium to be paid
policy document an insurance document that gives full detail of the cover to be paid
assesor the person who calculates
underinsurance if something is not insured for its fullmarket
Created by: lauren davis
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