PARTICIPATING INSURANCE
\pɑːtˈɪsɪpˌe͡ɪtɪŋ ɪnʃˈʊ͡əɹəns], \pɑːtˈɪsɪpˌeɪtɪŋ ɪnʃˈʊəɹəns], \p_ɑː_t_ˈɪ_s_ɪ_p_ˌeɪ_t_ɪ_ŋ ɪ_n_ʃ_ˈʊə_ɹ_ə_n_s]\
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An insurance policy which pays back a dividend if the insurance company has announced profits. Secondly, any insurance that manages to contribute towards the payment of a claim with other policies (which also cover the same risk) is known as a participating insurance.
By Henry Campbell Black
Word of the day
hydromorphic
- [Greek] Structurally adapted to an aquatic environment, as organs of water plants.