reinstatement premium
C1CEFR level
70/100Rarity: rare
TechnicalRegister
The extra premium paid to restore a reinsurance limit after a loss has eroded it.
The first storm exhausted the layer, so we paid a reinstatement premium to buy the cover back.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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