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Today's Terms
Binder
Definition:
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
Subrogation
Definition:
The process in which an insurance company, after paying a loss to its insured, recovers the amount of the loss for damages (plus the insured's deductible) from the legally liable party.
Venue
Definition:
The specific county, city or geographical area in which a court has jurisdiction
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