MLchartDataset catalogue

Basket deductible

Term · Insurance and risk management · MLC-T-INS-000539

A single deductible amount that applies to the total of all covered losses arising from multiple perils or occurrences within a specified period, rather than applying a separate deductible to each individual loss. Once the cumulative losses exceed this amount, the insurer begins to pay. This differs from a per-occurrence deductible.

Table 1. Record
IdentifierMLC-T-INS-000539
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-000539",
  "term": "Basket deductible",
  "field": "Insurance and risk management",
  "definition": "A single deductible amount that applies to the total of all covered losses arising from multiple perils or occurrences within a specified period, rather than applying a separate deductible to each individual loss. Once the cumulative losses exceed this amount, the insurer begins to pay. This differs from a per-occurrence deductible.",
  "url": "https://mlchart.com/terminology/insurance/basket-deductible/"
}

Record 294 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.