What does Pooling mean? Read on to discover the definition & meaning of the term Pooling - to help you better understand the language used in insurance policies.
Pooling is a system in which a large number of people purchase insurance as a group in order to lessen the cost of coverage. Essentially, the members of the pool who are deemed low-risk compensate for the elevated cost of insuring those who are high-risk.
We hope the you have a better understanding of the meaning of Pooling.