What is the Definition of Apportionment?

What is the Definition of Apportionment?

The dividing of a loss proportionately among two or more insurers that cover the same loss.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Insurance?

What is the Definition of Apportionment?

What is the Definition of Apportionment?

Check out other definition of insurance terms below:

What is the Meaning of LOSS RESERVES In Insurance Terms?

The company’s best estimate ofWhat it will pay for claims, which is periodically readjusted. They represent a liability on the insurer’s balance sheet.

What is the Meaning of MALPRACTICE INSURANCE In Insurance Terms?

Professional liability coverage for physicians, lawyers, and other specialists against suits alleging negligence or errors and omissions that have harmed clients.

What is the Meaning of MANAGED CARE In Insurance Terms?

Arrangement between an employer or insurer and selected providers to provide comprehensive health care at a discount to members of the insured group and coordinate the financing and delivery of health care. Managed care uses medical protocols and procedures agreed on by the medical profession to be cost effective, also known as medical practice guidelines.

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