What does Retraction Provisions mean? Read on to discover the definition & meaning of the term Retraction Provisions - to help you better understand the language used in insurance policies.
Clauses contained in media professional liability policies stating that if an insured is sued (or threatened with suit) as a result of information that has been published but that is untrue or incorrect, the insured is required to publish a timely retraction of these misstatements.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
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