MLchartDataset catalogue

Duplication

Term · Insurance and risk management · MLC-T-INS-001233

The existence of multiple insurance policies or coverages that protect against the same loss or peril for the same insured. This can lead to inefficiencies in claims processing and potential disputes among insurers regarding contribution. While not always prohibited, it does not increase the total amount recoverable beyond the actual loss suffered.

Table 1. Record
IdentifierMLC-T-INS-001233
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001233",
  "term": "Duplication",
  "field": "Insurance and risk management",
  "definition": "The existence of multiple insurance policies or coverages that protect against the same loss or peril for the same insured. This can lead to inefficiencies in claims processing and potential disputes among insurers regarding contribution. While not always prohibited, it does not increase the total amount recoverable beyond the actual loss suffered.",
  "url": "https://mlchart.com/terminology/insurance/duplication/"
}

Record 1,062 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.