Business risk
First loss policy
Modality in which a determined amount is insured regardless of the total value of the asset, without proportional rule up to that limit.
In practice
It is the reasonable solution when the total value is enormous and the maximum foreseeable loss is limited: theft, cash in hand, or aesthetic damage. Outside these cases, it covers the symptom of underinsurance without resolving it.
Where it is addressed
This term is covered in Riesgos patrimoniales.
