What Does Sleep Insurance Mean?

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What does Sleep Insurance mean? Read on to discover the definition & meaning of the term Sleep Insurance - to help you better understand the language used in insurance policies.

Sleep Insurance

Sleep Insurance

Refers to those types of catastrophe insurance coverages that allow management to sleep at night. Such covers protect a company from a devastating yet unlikely event, such as coverage for earthquake or other high excess layers of property coverage. These lines provide coverage for events for which there is a very low likelihood of occurrence; therefore, meeting the requirement for a reasonable possibility of loss may be problematic. But common practice has evolved such that these types of contacts are considered valid insurance and reinsurance contracts.

We hope the you have a better understanding of the meaning of Sleep Insurance.

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