Insured Event

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Insured Event

Any event that would cause an insurer to pay a claim. For example, in car insurance, an insured event may be a car accident because it would cause the insurance company to compensate the policyholder for property damage and/or medical bills. Insurance companies base their premiums on the likelihood that an insured event may happen. For example, a younger driver may pay a higher premium than an adult because younger drivers may be statistically more likely to cause an accident.
References in periodicals archive ?
the total performance of the insurer for all insured events of one insurance year must not be more than twice the above-mentioned coverage.
Under the terms of a different policy, if the named insured acquires or creates another organization in which the named insured has an ownership interest of greater than 50 percent, the organization is covered for insured events that take place after the date of acquisition or creation, but only if the named insured provided notice to the insurer no later than 60 days after the effective date of the acquisition or creation, along with any information the insurer should require.
Azad Javadov, head of ADIF, said, 'To date, ADIF has paid nearly AZN93 million to the three banks, where insured events occurred.
Risk of inflated claims--With pressure on management to produce results in line with prior years' budgets--meaning before the financial crisis--losses caused by insured events may create an opportunity to blame the performance of the organization completely on the insured event.
K&R policies also cover a wide range of expenses related to the insured events.
76 billion, had the catastrophe been found to have been two insured events.
The most commonly insured events are discrimination, sexual harassment and wrongful termination, and are the specified perils for most policies.
However, all three classes of notes could incur additional losses if additional insured events occur before the expiration of the reinsurance agreement on May 31, 2008.
The total benefit for all insured events of one insurance year must be at least twice the coverage.
11, 2001, arguing that they are obligated to recompense him for two insured events, rather than one.
Bajaj Allianz will also cover increases in interest expenses caused by delays in any insured events.