Basket retention

Term · Insurance and risk management · MLC-T-INS-000540

A cumulative self-insured retention amount that applies to the total of all losses across multiple lines of coverage or occurrences within a specific period. The insured party bears all losses up to this combined retention level before any insurance coverage activates. It functions similarly to a basket deductible but represents the insured's direct financial responsibility.

Table 1. Record
Identifier	MLC-T-INS-000540
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-000540",
  "term": "Basket retention",
  "field": "Insurance and risk management",
  "definition": "A cumulative self-insured retention amount that applies to the total of all losses across multiple lines of coverage or occurrences within a specific period. The insured party bears all losses up to this combined retention level before any insurance coverage activates. It functions similarly to a basket deductible but represents the insured's direct financial responsibility.",
  "url": "https://mlchart.com/terminology/insurance/basket-retention/"
}

Record 295 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.