full reporting clause

full-reporting clause.

1. Insurance. An insurance-policy clause that requires the insured to reveal values and that penalizes the insured if the insured revealed less than required in the policy application. — Also termed honesty clause. [Cases: Insurance 2169.]

2. An insurance-policy clause providing that the indemnity will not exceed the proportion of the loss that the last reported value bears to the actual value.


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译员Dennis,毕业于英国顶尖的高级翻译学院,专注翻译各种与高管退休金和员工福利有关的法律文件。
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