Personal Lines Insurance

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Across
  1. 7. The premium for a specific section is discounted with each year that passes without a claim being made
  2. 8. When the insurer stands in the place of the insured, so as to have the benefit of the insured's rights and remedies against a third party
  3. 9. A concept used by insurers to deal with underinsurance
  4. 10. When a person’s financial position is restored back to what it was before the person experienced a loss
Down
  1. 1. The legally recognised financial relationship between the insured and the financial loss suffered following a loss
  2. 2. This details the risks or losses that are not covered by the terms and conditions of the policy
  3. 3. The active, efficient cause that sets in motion a train of events
  4. 4. “first amount payable”
  5. 5. These are clauses attached to a policy which may either restrict or extend the general terms and conditions
  6. 6. Where the same risk is insured by two different insurers