Menu

Home
About Us
- Code of Conduct
- Guidelines Explained
Members
- Featured Employees
Gallery
Calendar
Resource Center
Courses
- Anti-Money Laundering
  - CIIA COURSE ANNOUNCEMENT – MLRO TRAINING – NEXT LEVEL TRAINING – LEVEL II
- Chartered Insurance Examinations
  - Chartered Insurance Institute Examinations Notice
Links

Allowed/Allowable Charge

Posted on December 21, 2016

See Usual & Customary (U & C). In Cayman, see SHIF.

This entry was posted in . Bookmark the permalink.

Post navigation

← Usual & Customary Charge

FAILURE OF CONSIDERATION

Occurs when the subject matter insured or part thereof is not exposed to risk. For example, a policy is effected to cover a marine shipment of 100 boxes but only 80 boxes are sent. The Insured is entitled to a refund of premium on the 20 boxes that were not exposed to risk.