0
First loss basis is a type of insurance or reinsurance where the coverage kicks in immediately upon occurrence of a loss or claim, up to a predetermined limit. This means that the first layer of coverage is exhausted before any other layers of insurance are tapped into. It is commonly used in catastrophe reinsurance to protect against large, infrequent losses.
Still curious? Ask our experts.
Chat with our AI personalities
Beau
Ross
EzraAdd your answer:
Earn +20 pts
Where was the first ozone loss detected?
The first ozone loss was detected over Antarctic. It is due to westerly winds.
What is the first structure to prevent water loss in the leaf?
xylem
What is difference between anhydrous and dried basis?
Anhydrous basis refers to the weight of a substance without any water content, while dried basis refers to the weight of a substance with the water content removed. Anhydrous basis is usually used in calculations to determine the pure substance content, whereas dried basis includes the water content in its weight.
What is anti-inbreeding laws?
They mean it is illegal to have a child with a first relative such as a sister or even a mother. What they exactly are though depends on a state by state basis.
What is the basis of a crystal?
The basis in crystals is that it is uniquely arranged in a given solid or liquid.
