TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

AUTOMATIC LAY-UP RETURN CLAUSE [1 record]

Record 1 1982-03-25

English

Subject field(s)
  • Insurance
  • Fire, Accidents, Miscellaneous Risks (Insur.)
OBS

The insured can, of course, cancel these hazards on a short rate basis but, generally speaking, especially with respect to commercial operators, underwriters are willing to provide what is known as an "Automatic Lay-up Return Clause".

French

Domaine(s)
  • Assurances
  • Incendies, accidents et risques divers (Assur.)
OBS

Il pourrait évidemment demander la résiliation du risque à court terme, mais en général, et en particulier lorsqu'il s'agit d'entreprises commerciales, les assureurs préfèrent avoir recours à ce qu'on appelle la "Clause de remboursement automatique pour remisage".

Spanish

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