Money received by an insurer in respect of a loss, thus reducing the loss, by way of subrogation, salvage or reinsurance.
Money received by an insurer in respect of a loss, thus reducing the loss, by way of subrogation, salvage or reinsurance.
The net cost of a Life Insurance contract which is found by subtracting the cash value of the contract at the end of a given year from the premiums paid, less all dividends.