Examlex
The letters in REPAIR stand for
Premium Rate
The cost rate of insurance coverage per unit of coverage, reflecting the risk and administrative costs.
Coinsurance Clause
A provision in an insurance policy that defines the split of responsibility for payment between the insurer and the insured.
Short Rate
A penalty premium amount charged when an insurance policy is terminated by the policyholder before the end of its term.
Coinsurance Clause
A provision in an insurance policy that defines the split of costs between the insurer and the insured after the deductible is met.
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