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22 May Coinsurance Provision

An insurance provision for property coverage in which the policy holder must carry an amount of insurance that is at least equal to a set percentage of the value of the property in order to receive full payment of a loss....

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22 May Claims-Made Coverage

Claims-made insurance is a type of liability protection that covers current legal obligations resulting from certain actions by the insured. It provides coverage to the insured for claims reported during the policy term....

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22 May Claim

A request for monetary compensation for a loss. A claim typically arises from the terms of an insurance contract. There are two types of claims. A first-party claim is one in which the policyholder reports the claim directly to the insurance company. A third-party claim...

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