How is Insurance Retention defined in a legal contract?
- Insurance Retention means the limit per event for any loss or reserve as established for a specific entity, which limit shall be the same as is applied to other similar entities participating in the blanket insurance programs, or such higher amount if necessary by the insurer for high-risk situations such as earthquake, flood and wind. Seen in 52 SEC filings.
- Insurance Retention means the amount of any loss or reserve under a entity's blanket insurance or self-insurance programs which is allocated to the entity, not to exceed the higher of the maximum per event limit established for similar entities participating in such programs, or the insurance policy deductible on any loss which may fall within high risk classifications as mandated by the insurer (e.g., earthquake, flood, windstorm on coastal properties, etc.). Seen in 13 SEC filings
- Insurance Retention means the amount of any loss or reserve allocated to a specific entity, not to exceed the insurance policy deductible. Seen in 12 SEC filings
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of insurance retention' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Insurance Retention means the highest limit for any loss or reserve that a specific entity is responsible for, under its blanket insurance programs.
Relevant Contract Types
Relevant Circumstances
- Cases where entities are signing up for blanket insurance programs.
- Situations when organizations need to define their maximum liability for losses.
Relevant Sectors
Genie Definition 2
Insurance Retention means the deductible amount allocated to any loss or reserve for a given entity, under its individual insurance policy.
Relevant Contract Types
- Individual Insurance Policy Contract
- Health Insurance Agreement
- Vehicle Insurance Contract
- Property Insurance Agreement
Relevant Circumstances
- Instances when individuals or organizations are seeking to determine their insurance deductibles.
- Situations when an entity is defining its liability for individual insurance policies.
Relevant Sectors
Insurance Retention means the highest limit for any loss or reserve that a specific entity is responsible for, under its blanket insurance programs
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