MLchartDataset catalogue

valued policy

Term · Insurance and risk management · MLC-T-INS-000249

A policy in which the insured and the insurer agree on the value of the property insured, that value being payable in the event of a total loss. The Standard Flood Insurance Policy (SFIP) is not a valued policy.

Table 1. Record
IdentifierMLC-T-INS-000249
FieldInsurance and risk management
SubjectNational Flood Insurance Program
ReferencesFloodSmart Flood Insurance Glossary; FEMA Glossary
Record as JSON 
{
  "id": "MLC-T-INS-000249",
  "term": "valued policy",
  "field": "Insurance and risk management",
  "definition": "A policy in which the insured and the insurer agree on the value of the property insured, that value being payable in the event of a total loss. The Standard Flood Insurance Policy (SFIP) is not a valued policy.",
  "subject": "National Flood Insurance Program",
  "references": [
    "FloodSmart Flood Insurance Glossary",
    "FEMA Glossary"
  ],
  "url": "https://mlchart.com/terminology/insurance/valued-policy/"
}

Record 249 of 272 in Insurance and risk management terminology (MLC-0106). Request the full dataset.