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Master Limited Partnership (MLP) Master Limited Partnership (MLP) is a partnership that sells units traded on a recognized stock exchange, has many advantages of a
Time limit on certain defenses provision Time limit on certain defenses provision in an individual health insurance policy that prohibits the company from canceling the policy or denying a claim on the basis of a preexisting condition or misstatement in the application after the policy has been in force for
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Retention limit Retention limit is an amount of insurance retained by a ceding company for its own account in a reinsurance operation.
Retained limit Retained limit is a term found in an umbrella liability policy that refers to (1) the total limits of the underlying insurance or any other insurance available to the insured, or (2) the deductible stated in the
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General aggregate limit General aggregate limit is in the commercial general liability policy, it is the maximum amount the insurer will pay for the sum of the following—damages under Coverage A and B, and medical expenses
Imitation Imitation stands for “not authentic”. Any produced good reflecting the characteristics of an already existing product will make the latest one an imitation of the first.
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