Reporting form coverage

{
  "id": "MLC-T-INS-002892",
  "term": "Reporting form coverage",
  "field": "Insurance and risk management",
  "definition": "A type of property insurance policy where the insured periodically reports the value of covered property to the insurer, and premiums are adjusted based on these reported values. This coverage is suitable for businesses with fluctuating inventory or property values. The policy typically includes a maximum limit of liability, and underreporting can lead to a coinsurance penalty at the time of a loss.",
  "url": "https://mlchart.com/terminology/insurance/reporting-form-coverage/"
}