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An update to the insurance certificate that amends the terms and
conditions of the
policy.
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The first part payable of a claim. It is the responsibility of the
policyholder
to pay the excess.
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A policy that reduces the amount of money the
policyholder
is responsible is paying for per claim.
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A written condition or situation that a policy specifically does not cover.
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The possible loss an
insurance company
may suffer from insuring a specific risk.
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