UNCENSURABLE

\ʌnsˈɛnʃəɹəbə͡l], \ʌnsˈɛnʃəɹəbə‍l], \ʌ_n_s_ˈɛ_n_ʃ_ə_ɹ_ə_b_əl]\
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1914 - Nuttall's Standard dictionary of the English language
By Nuttall, P.Austin.

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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.
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