Pennsylvania Code (Last Updated: April 5, 2016) |
Title 31. INSURANCE |
PART IV. Life Insurance |
Chapter 88. Individual Accident and Sickness Insurance Minimum Standards |
Section 88.82. Reduction
Latest version.
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A reduction is a provision which takes away some portion, but not all, of the coverage of the policy under certain specific conditions. Such reduction relates to a risk, which although assumed by the insurer, payment upon the occurrence of such loss is limited to some amount or period less than would be otherwise payable had such reduction clause not been used.