Definition: Insurance AMTEX (also known as Amex) is a term used in the insurance industry to indicate an insurance policy that covers a portion of the loss or damage of goods, vehicles, equipment, buildings, etc., caused by a fire, earthquake, tsunami, flood, storm, etc. The coverage limits can range from $500 per item to several hundred thousand dollars per policy. The term is also used in financial terms to denote insurance contracts that cover the purchase price or cost of an asset. In more technical terms, "insurance amtex" refers to a type of contract where the insurer pays for one party's losses but only if they exceed the amount it covers. This means that if one party incurs a loss and the insurer determines that their coverage exceeds the limit, the excess will be paid by the other party. The specific definition of "insurance amtex" can vary depending on the type of contract, the insurance provider, and any other factors involved. However, in general terms, it means that the amount of coverage provided is limited to the extent of the loss or damage caused by an event, rather than covering all possible losses.
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