SCULPTURED
\skˈʌlpt͡ʃəd], \skˈʌlptʃəd], \s_k_ˈʌ_l_p_tʃ_ə_d]\
Word of the day
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.