Welcome to the 1520 Perfect Dictionary
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| Overinsurance | |
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| OVERINSURANCE Definitions: i. Situation where an insured has bought so much coverage that it exceeds the actual cash value (or the replacement cost) of the risk or property insured. ii. Insurance (as from two or more policies) that exceeds the value of the thing covered. iii. Having excess insurance coverage/policies that covers the same risk or having insurance cover in excess (more than) of the value of the possible loss that the insured can experience. ______________________________________________________________________ * All seven elements would be in. 1. Thought purposeful and necessary (connect to #2, to emphasize). 2. Decision arose from deliberate overvaluation or a miscalculation. 3. Creative accounting will take care of a likelihood of an exposure. 4. Additional or extra money used in paying a premium not peanuts.* 5. Currency devaluation won't happen when claim is due and made. 6. Fraudulence sure an end result of corruption and mismanagement.** 7. Serves purpose(s), exactly as hoped for, mainly for the insured party. ____________________________________________________________ * Funds could've been better invested with a high ROI. TRUTH TO DENY... for the insurer... HEALTHY CASH FLOW. MONEY TO BURN... by the insured... BENEFITS ENVISAGED. ** Ready to forward false claim, as agreed with cohort. | |
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1520 Products was established in 2005 with the purpose of entertaining and teaching us on key and important aspects of life (such as marriage, sex, etc) through the playing of games which will allow us to laugh but at the same time pass a message of what is the right or ideal way. |
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