Substance that is injected into the body, introduced via catheter, or swallowed to allow radiographic images of internal structures that would normally be difficult to see on x-ray films. Also called contrast material.
Insurance Encyclopedia
Contribute-to-the-Loss Statute
A statute found in some countries that requires Insurers claiming misrepresentation or breach of warranty to show that the fact misrepresented actually contributed to the claim the Insurer refuses to pay.
Contributing Excess
REINSURANCE: A form of excess of loss reinsurance where, in addition to its retention, the ceding company has a share of losses in excess of the retention. This form of reinsurance may also apply to subject polices written in excess of underlying insurance or self insured retentions where the reinsurance applies to a share of losses within the policies, with the ceding company or other reinsurers contributing the remaining share. When more than one reinsurer shares a line of insurance on a risk in excess of a specified retention, each reinsurer contributes towards any excess loss in proportion to its original participation in such risk.
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REINSURANCE: Where there is more than one reinsurer sharing a line of insurance on a risk in excess of a specified retention, each such reinsurer shall contribute towards any excess loss in proportion to his original participation in such risk.
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Where there is more than one reinsurer sharing a line of insurance on a risk in excess of a specified retention, each such reinsurer shall contribute towards any excess loss in proportion to his original participation in such risk. Example Retention $100,000, Reinsurer A accepts one-half contributing share part of $1,000,000 in excess of said $100,000. Reinsurer B accepts remaining one-half contribution share part of $1,000,000.
Contributing interests
The main contributing interests to general average expenditure are ship, freight and cargo, including specie. The only exceptions are H.M. mails, crew’s effects and passengers’ personal effects not shipped under a bill of lading. Otherwise the ‘interests’ saved contribute on their net arrived values at the place where the voyage ends.
Contributing location
A location upon which the insured depends as a source of materials or services. One of the four types of dependent properties for which business income coverage may be written.
Contributing location (Property)
One of the four categories of properties covered under business income insurance. A property used to supply equipment or assistance.
Contributing Property
Entity which supplies an important raw material or component to another dependent entity. In contingent business interruption Insurance, a partial or complete temporary shutdown of an entity identified in the Policy as a contributing property of the insured is a basis for a covered contingent business interruption loss to the insured.
Contribution
(i) Share of a loss payable by an Insurer when two or more Insurers cover the same loss. (ii) Insurer’s share of a loss under as Coinsurance or similar provision. (iii) Portion of the premium for group Insurance paid by an employee.
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MEDICAL,USA: 1. Full or partial payment amount by an insurance company under an insurance contract that may be one or two or more contracts that cover the same loss. 2. A part of the insurance premium that is paid by either the policyholder or the insured or both. 3. Act of contributing.
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UK: A corollary of indemnity meaning an equitable division between insurers where two or more insurers cover the same insured and the same risk. Each insurer pays a rateable proportion of the loss either in proportion to the sums insured (the maximum liability method) or in proportion to their respective independent liabilities (the independent liability method). Insurers may avoid contributing to ‘doubly’ insured losses by using a noncontribution clause.
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A term that can have several meanings in the context of insurance. A contribution can be the portion of a loss paid by each insurer, when two or more cover the same loss. Or the term can mean the portion of a premium paid by the insured. The term can also mean the portion of the loss paid by the insurer under coinsurance.
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UK: the amount paid by each insurer in respect of a loss where two or more insurers cover the same insured in respect of the same risk, this division of a loss between insurers arises from the principle of indemnity and ensures equitable distribution of losses between insurers.
Contribution base
See: maximum tax base.
Contribution by Equal Share
Equal apportionment of an insured loss by two or more Insurers so that each Insurer contributes an equal amount toward the loss until each Insurer’s contributes an equal amount toward the loss until each Insurer’s contribution equals the least of their individual limits of liability. For example, if Insurer A has a Rs. 2,00,000 Policy for a particular loss and Insurer B has a Rs. 3,00,000 Policy for that same loss, each Insurer would pay half of any loss not exceeding Rs. 4,00,000. For a loss above Rs. 4,00,000, each Insurer would pay Rs. 2,00,000 and Insurer B would pay any remaining loss until it had paid its Rs. 3,00,000 limit.