A provision in a marine excess of loss reinsurance which relieves the reinsurer of liability unless two or more rigs are involved in the same loss occurrence.
Insurance Encyclopedia
Two Risks Warranty
A provision in a property reinsurance catastrophe treaty that the reinsurer will be liable only in respect of claims where at least two risks are involved in one accident.
Two surgeons
Situation when more than two surgeons are present at the time of the operation. A five-digit CPT code number is used with an attached modifier -62 to list the procedure. If listing more than one modifier, the appropriate sequence is to list -62 first and any one of these modifiers in the next position (-54, -55).
Two Vessel Warranty
A provision in a Marine Hull Excess of loss reinsurance which relieves the reinsurer of liability unless two or more vessels are involved in the same loss occurrence.
Two-party check
Check that is made out to the physician and the patient by the maker.
Two-person membership
Insured or subscriber and one dependent of an insurance contract.
Two-risk warranty
A warranty used in catastrophe excess of loss reinsurance to ensure that the reinsurance is not invoked unless at least two distinct risks are involved. Involvement in single losses applies to working cover excess of loss treaty. The warranty is used in life, personal accident, catastrophe property and reinsurance in the London excess market (LMX).