Blanket & First Loss Policies
This paper provides an introduction to blanket and first loss policies, explaining why and when they are most commonly adopted.
The writer discusses some of the queries that might arise on blanket policies in relation to the adequacy of sum insured, value at risk calculation and application of average. With regard to first loss policies, the writer outlines some of the reasons and benefits of this type of insurance cover referencing underwriting considerations, insurance premiums and the nature of the risk.
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