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Contingent Insurance


An insurance coverage (a policy) that is contingent on the absence or unavailability of other insurance. In other words, the contingent policy will not become effective if , or as long as, the underlying, insurable risk is already covered under another policy.

Contingent insurance includes an escape-type “other insurance” provision stating that it shall not be in effect if there is another policy providing coverage.



ABC
Insurance revolves around risk reduction or mitigation through transferring the risks of individuals and firms to an insurance company. Insurers take on the risk and ...
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