Definition of Runoff Provision:
Meaning of Runoff Provision: A provision of the insurance policy which stipulates that the insurer will be liable for a fixed period of time for claims due to irregularities in a term or canceled policy. For example, consider the written policy for January 1, 2015, 2016 and the five-year salary policy. In this case, the insurance coverage applies to the settlement of all claims based on deviations during the insurance period. H. 5 year term immediately after expiration of the policy on January 1, 2015-2016). Although the run-of-rule extended reporting period (ERP) works as a rule, there are some differences. First, LESs are usually formed for a period of only one year, while run-off provisions typically cover a period of several years, often up to 5 years. Second, although LES is often obtained when a policyholder switches from a qualifying insurance company to another qualifying insurance company, settlement provisions are usually used when one policyholder is purchased or another Gets together In such cases, the recipient receives a settlement clause which includes merger claims that occurred before the acquisition but which will be billed to the recipient after the acquisition.
Literal Meanings of Runoff Provision
Meanings of Runoff:
Other competitions, elections, races, etc. After a tie or a vague result.
Evacuation of water (or substances in it) from the surface of land, buildings or structures, etc.
Sentences of Runoff
Only 49% of the vote was won, so there was a second round.
The relationship between flow and rain
Meanings of Provision:
Provision of food, drink or luggage, especially for travel.
Save money in the organization's accounts for known responsibilities.
Posting work, or posting, something to use.
Delivery or delivery quantity or goods.
A condition or requirement in a legal document.
Promises of benefits, especially directly from the pope, not from the boss, and initially before he was free.
Sentences of Provision
Civil contractors are responsible for providing these troops.
Financial institutions need to protect themselves from default.
Basic provisions of civil rights
Take another example of medieval, the papal arrangement in medieval England.
Synonyms of Provision
supplying, donation, distribution, furnish, amenities, equip, supply, facilities, provide, arrangements, requirement, stipulation, fit out, clause, accoutre, arm, furnishing, fit up, presentation, providing, equipment, allocation, resources, delivery, purveying, services, equipping, term