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%.back to dictionary >
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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…go to the dictionary >
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