|
Today's Terms
Claim
Definition:
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Subrogation
Definition:
The process in which an insurance company, after paying a loss to its insured, recovers the amount of the loss for damages (plus the insured's deductible) from the legally liable party.
Premium
Definition:
The money paid for an insurance policy based upon the coverage provided.
More Terms >
|