Selling price clause or endorsement

{
  "id": "MLC-T-INS-003058",
  "term": "Selling price clause or endorsement",
  "field": "Insurance and risk management",
  "definition": "A provision added to a property insurance policy that modifies the valuation method for finished goods that are damaged or destroyed. Instead of valuing the goods at their cost of manufacture or acquisition, this clause allows for their valuation at the price for which they would have been sold had no loss occurred. This covers the profit that would have been realized from the sale.",
  "url": "https://mlchart.com/terminology/insurance/selling-price-clause-or-endorsement/"
}