answersLogoWhite

0


Best Answer

In all general insurance policies it is the maximum amount of indemnity the insurers will be called upon to pay towards the loss triggered by a single event which of course shall have been covered by the policy of insurance. For example: Engineering works factory is insured for Indian Rupees 10,000,000/- and the insured expects maximum loss arising out of a single event of fire occurrence which is of course an insured risk would be Indian Rupees 1,000,000/- before fire is extinguished in a duly diligent way. This amount of Indian Rupees 1,000,000/- is called Estimated Maximum Loss and which plays an important role in getting the proper reinsurance terms from the reinsurer.

User Avatar

Wiki User

βˆ™ 2008-09-21 03:05:48
This answer is:
User Avatar
Study guides

Nutrition

21 cards

If you were laid off and apply for insurance coverage on your wife's group policy do you have to answer a medical questionnaire

How many grams of cholesterol should you eat each day to maintain a healthy diet

What would cause a fluttering inside the ear canal

Why is beef fat a solid at room temperature

➑️
See all cards
3.22
β˜†β˜…β˜†β˜…β˜†β˜…β˜†β˜…β˜†β˜…
506 Reviews

Add your answer:

Earn +20 pts
Q: What is meant by Estimated maximum losswithin general insurance policies?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What policies are offered by General American Life Insurance?

There are many policies offered by General American Life Insurance. These include the Variable Life Insurance policy, the Condo Insurance policy and the Boat Insurance policy.


Does foremost insurance company offers commercial policies?

iThe Commercial policies are offered by General Insurance companies, whereas life policies are issued by Life Insurance companies


What are two types of insurance policies?

there are two types of insurance 1. Life insurance 2. General insurance


What is non-life insuran?

General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determined to be life insurance.


Are US life insurance policies taxable?

As a general rule, life insurance policies in the US are not taxable. However it is taxable if it is combined with a non-refund life annuity.


What is your fax number for life insurance policies?

It depends on the company. There is no general fax number.


How General Insurance Can Protect You?

"General insurance" is the umbrella term used by the insurance industry to describe all policies other than life insurance policies. This includes various types of insurance for individuals as well business policies. The two most common types of general insurance for individuals are automobile insurance and homeowners insurance, both of which can include property and casualty coverage. The two most common types of general insurance available for businesses are commercial auto liability and commercial general liability. Other commercial general insurance products include premise liability, professional liability, product liability and operations liability. An increasingly popular commercial product is business interruption insurance that provides the business owner with income should a disaster fall that is covered by other parts of his or her policy.


What kind of insurance is Amica Auto?

Amica Auto sells insurance for automobiles and motorcycles to the general public and is known for their competitive rates and their prices on insurance policies.


Will insurance cover child birth for unmarried parrents?

It depends on the state and the insurance you have; in general, childbirth is covered on most women's policies, so be sure that she has insurance and that it covers childbirth.


Which insurance companies offer general insurance policies at an affordable rate?

Almost any car insurance company will be able to offer you a general insurance policy at affordable rates. You should ask family, friends and co-workers for a referral to a good insurance agent in your local area.


Does insurance pay for treatment of cancer?

It is necessary to read a particular insurance policy to see exactly what it will pay for. In general, insurance policies pay for cancer treatments. There can be questions of how many and what type.


What are some benefits of a private healthcare insurance?

There are two types of private health insurance - hospital policies cover you when you go to hospital, while general treatment policies (sometimes known as ancillary or extras ) cover you from ancillary treatment (e. dental , physiotherapy ) Most Health funds offer combined policies that provide a package cover for both hospital and general treatment services, or you can buy separate hospital and general treatment policies to mix and match

People also asked