What does Reimbursement of Insured mean? Read on to discover the definition & meaning of the term Reimbursement of Insured - to help you better understand the language used in insurance policies.
Reimbursement of Insured
A reimbursement of the insured occurs when an insurance company refunds an amount of money that it owes to a policyholder. This refund could be for losses that the insured has experienced and that the insurance company is legally responsible the handle, for expenses incurred by the policyholder, or for other reasons.
We hope the you have a better understanding of the meaning of Reimbursement of Insured.