Participation

 

Meaning of the word: Participation

Participation is a supplement in the treaty, where is listed the information about the contribution to the indemnity by the insured person himself. If the damage caused by the insured, the indemnity shall be reduced just about participation. Participation is measured as a percentage, the amount ranges from 10% to 1%.

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FROM DICTIONARY

Reinsurer

Reinsurer is a company, which takes responsibility in the case that the insurer is unable to repay its obligations. The insurer must pay for this…

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