Reinstatement

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Reinstatement

The restoration of an insurance policy after it has lapsed for nonpayment of premiums.

Reinstatement

The act of an insurer putting an insurance policy back into effect after it has lapsed because of missed premium payments. Generally speaking, a policyholder is under no legal obligation to make premium payments, but if he/she fails to do so, the insurer has the right to rescind the policy. Reinstatement may require proof of continued eligibility for the policy and may also require the policyholder to pay back all missed premium payments.
References in periodicals archive ?
Endurance Specialty Holdings puts its Sandy-related losses at $160 million, pretax and net of reinsurance and reinstatement premiums.
RenRe says its predicted tally includes est8imates of claims, claims expenses, reinstatement premiums assumed and ceded, lost-profit commissions, redeemable non-controlling interest, and other income.
And though it is not impossible to successfully challenge a claim for temporary reinstatement, it is rarely done as the standard weighs in such favor to the miner.
In at least one recent case, even though MSHA had already made a finding of no discrimination on a miner's overall complaint and decided to not represent the miner in the discrimination action, the Secretary of Labor continued to represent the miner in the temporary reinstatement hearing.
But the Government do not really want more than 10% inspected because if the companies are leaned on too much they say it will cause more inconvenience to do reinstatements again and it will cost more money.
There is a Government a scheme in which motorists can claim for damage to their cars caused by potholes and reinstatements etc.
Since the online service's launch one year ago, more than 100 thousand suspended drivers have paid their reinstatement fees online instead of mailing payment to DPS headquarters, and more than 3,500 people log in every day to view their reinstatement requirements and check their driving eligibility status.
In addition to online reinstatement fee payment, Texas.