MLchartDataset catalogue

Contribution

Term · Insurance and risk management · MLC-T-INS-000959

The right of an insurer to recover a portion of a loss payment from other insurers who also cover the same loss. This principle applies when multiple policies cover the same risk, preventing the insured from recovering more than the actual loss. Contribution is typically determined proportionally based on each policy's limit or premium.

Table 1. Record
IdentifierMLC-T-INS-000959
FieldInsurance and risk management
SubjectCommercial Liability
Record as JSON 
{
  "id": "MLC-T-INS-000959",
  "term": "Contribution",
  "field": "Insurance and risk management",
  "definition": "The right of an insurer to recover a portion of a loss payment from other insurers who also cover the same loss. This principle applies when multiple policies cover the same risk, preventing the insured from recovering more than the actual loss. Contribution is typically determined proportionally based on each policy's limit or premium.",
  "subject": "Commercial Liability",
  "url": "https://mlchart.com/terminology/insurance/contribution/"
}

Record 760 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.