full reporting clause

noun
full re·​port·​ing clause

Legal Definition of full reporting clause

: a clause in an insurance policy which provides that the indemnity will not exceed that proportion of loss which the last reported value of the property bears to the actual value

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“Full reporting clause.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/full%20reporting%20clause. Accessed 5 Mar. 2021.

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