Allocation

{
  "id": "MLC-T-INS-000393",
  "term": "Allocation",
  "field": "Insurance and risk management",
  "definition": "The process of distributing costs, losses, or responsibilities among multiple parties, insurers, or policy periods. In insurance, this often involves determining how much each insurer or policy should contribute to a claim when multiple policies or insurers are involved over time. This method is frequently used in long-tail liability claims, such as environmental contamination or asbestos exposure, to fairly apportion damages.",
  "url": "https://mlchart.com/terminology/insurance/allocation/"
}