MLchartDataset catalogue

Cash before cover

Term · Insurance and risk management · MLC-T-INS-000696

A condition in an insurance transaction where the premium must be paid in full by the policyholder before the insurance coverage becomes effective. This practice is common in certain markets or for specific types of policies to mitigate credit risk for the insurer. No coverage is in force until the payment is successfully processed and received.

Table 1. Record
IdentifierMLC-T-INS-000696
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-000696",
  "term": "Cash before cover",
  "field": "Insurance and risk management",
  "definition": "A condition in an insurance transaction where the premium must be paid in full by the policyholder before the insurance coverage becomes effective. This practice is common in certain markets or for specific types of policies to mitigate credit risk for the insurer. No coverage is in force until the payment is successfully processed and received.",
  "url": "https://mlchart.com/terminology/insurance/cash-before-cover/"
}

Record 478 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.