First loss insurance,
Definition of First loss insurance:
The first policy that claims are submitted to for a loss, before any other policy that covers the same peril. This term can also mean a policy written for an amount that covers the anticipated loss during the policy term.
Meaning of First loss insurance & First loss insurance Definition
First Loss Insurance,
First Loss Insurance means,
Meaning of First Loss Insurance: Insurance in which the sum insured is recognized below the value of the assets, but the insurer pays the claim up to the sum insured without depositing a security deposit
Literal Meanings of First Loss Insurance
First:
Meanings of First:
Be the first to arrive on time or be the first to order in advance.
Especially in place, location or importance.
With a particular party or individual who holds any position.
Sentences of First
Your first wife
The first duty of a doctor is to respect this right.
He was the first person to drown in the river
Synonyms of First
principal, highest, greatest, paramount, top, opening, prime, chief, original, introductory, topmost, utmost, main, earliest, foremost, major, leading, initial, uppermost
Loss:
Sentences of Loss
Avoid wasting time
Synonyms of Loss
dropping, overlooking, misplacement, forgetting, mislaying
Insurance:
Meanings of Insurance:
The process or arrangement under which a company or government agency guarantees compensation for certain losses, injuries, illness or death in exchange for premium payments.
Anything that provides protection against possible emergencies.
Sentences of Insurance
Many new lenders buy unemployment or health insurance
Adherence to high standards of personal conduct is the best protection against personal problems.
Synonyms of Insurance
defence, safety measure, preventive measure, security, financial protection, safeguard, indemnity, immunity, surety, cover, protection, indemnification, precaution, shelter, provision
First Loss Insurance,
How Do You Define First Loss Insurance?
First Loss Insurance can be defined as, Insurance in which the sum insured is recognized as less than the value of the goods, but the insurer undertakes to settle claims up to the sum insured without applying the average amount.
Literal Meanings of First Loss Insurance
First:
Meanings of First:
Especially in position, position or importance.
In a leadership position with a particular party or person.
Sentences of First
The car was about to dive into the river first.
Synonyms of First
best, number-one, superlative, crucial, ruling, most important, winner's, focal, predominant, cardinal, rudimentary, elemental, winning, champion, key, fundamental, of prime importance, basal, outstanding, dominant, premier, central, core, primary, underlying, essential
Loss:
Meanings of Loss:
The fact or action of losing something or someone.
Synonyms of Loss
reduction, squandering, depletion, dissipation, erosion, waste, disappearance, forfeiture, privation, losing, impoverishment, deprivation, diminution
Insurance:
Meanings of Insurance:
An agreement in which a company or state guarantees compensation for certain losses, injuries, illnesses or deaths in exchange for a premium.
Sentences of Insurance
Many new borrowers buy unemployment insurance or health insurance.
Jacket hanging on the back of the chair, protected against air conditioning.
Synonyms of Insurance
warranty, (financial) protection, guarantee, backstop, assurance
First Loss Insurance,
What is The Definition of First Loss Insurance?
Meaning of First Loss Insurance: Insurance in which the sum insured is less than the value of the goods, but the insurer undertakes to settle claims up to the sum insured without applying the average.
Literal Meanings of First Loss Insurance
First:
Meanings of First:
With a particular party or person in a leadership position.
Sentences of First
Respecting this right is the first duty of a doctor.
The car was the first to dive into the river.
Synonyms of First
basic, overriding, supreme, prevailing, foundation, pre-eminent, of greatest importance, head, pivotal, beginning, vital
Insurance:
Meanings of Insurance:
An agreement in which the company or state guarantees compensation for certain losses, injuries, illnesses or deaths in return for certain premiums.
Something that protects against possible accidents.
Sentences of Insurance
Jacket hanging from the back of the chair, protected from air conditioning ■■■■■
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