INSTANTANEITY
\ˌɪnstantˈe͡ɪnɪti], \ˌɪnstantˈeɪnɪti], \ˌɪ_n_s_t_a_n_t_ˈeɪ_n_ɪ_t_i]\
Definitions of INSTANTANEITY
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PROPORTIONAL AGREEMENT
- When an insurer must take their share the losses based on a fixed variable percentage or monetary value. Refer to excess of loss agreement.