Waiver - An agreement attached to the policy and accepted
by the insured, to eliminate a specified pre-existing physical condition
or specified hazard.
Waiver of premium - A provision that sets certain conditions
under which an insurance policy will be kept in full force by the
company without the payment of premiums.
Write-Off - When the insurance company decides it is uneconomical
to repair your motorbike following an accident, theft, or when your
car is stolen and recovered and either it is impossible to repair;
it isn't safe to repair; it is not economical to repair your motorcycle.
Written premiums - The total premiums on all policies written
by an insurer during a specified period of time.
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