guiding principles

Definition

Principles that guide sharing the coverage of a loss between two insurance companies. These principles are developed by property and liability associations.

Use guiding principles in a sentence

The guiding principles were something we had to live by because it was important to our well being and our future.

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The guiding principles allowed the two insurance companies to diversify by spreading their risk and sharing it with each other.

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The guiding principles were a sort of saving grace to the companies in these tough times, but their bottom line would still suffer from the troubles they faced.

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